0001633917-18-000096.txt : 20180426 0001633917-18-000096.hdr.sgml : 20180426 20180426162334 ACCESSION NUMBER: 0001633917-18-000096 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 101 CONFORMED PERIOD OF REPORT: 20180331 FILED AS OF DATE: 20180426 DATE AS OF CHANGE: 20180426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PayPal Holdings, Inc. CENTRAL INDEX KEY: 0001633917 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 492989869 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-36859 FILM NUMBER: 18778894 BUSINESS ADDRESS: STREET 1: 2211 NORTH FIRST STREET CITY: SAN JOSE STATE: CA ZIP: 95131 BUSINESS PHONE: (408) 967-7400 MAIL ADDRESS: STREET 1: 2211 NORTH FIRST STREET CITY: SAN JOSE STATE: CA ZIP: 95131 10-Q 1 pypl10-qq12018.htm 10-Q Document

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 10-Q
 
ý
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2018.
OR
o
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Transition Period from             to             .
Commission file number 001-36859
   
 
PayPal Holdings, Inc.
(Exact Name of Registrant as Specified in Its Charter)
 
 
Delaware
47-2989869
(State or Other Jurisdiction of
Incorporation or Organization)
(I.R.S. Employer
Identification No.)
2211 North First Street
San Jose, California
95131
(Address of Principal Executive Offices)
(Zip Code)
(408) 967-1000
(Registrant’s telephone number, including area code)
  
 
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  [x]    No  [ ]
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  [x]    No  [ ]
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
ý 
Accelerated filer
o
Non-accelerated filer
o  (Do not check if a smaller reporting company)
Smaller reporting company
o
 
 
Emerging growth company
o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  [ ]    No  [x]
As of April 20, 2018, there were 1,187,386,825 shares of the registrant's common stock, $0.0001 par value, outstanding, which is the only class of common or voting stock of the registrant issued.
 

1


PayPal Holdings, Inc.
TABLE OF CONTENTS

 
 
 
Page Number
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



2


PART I: FINANCIAL INFORMATION

Item 1: Financial Statements

PayPal Holdings, Inc.
CONDENSED CONSOLIDATED BALANCE SHEET
 
March 31,
2018
 
December 31,
2017
 
(In millions, except par value)
 
(Unaudited)
ASSETS
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
2,879

 
$
2,883

Short-term investments
3,427

 
2,812

Accounts receivable, net
258

 
283

Loans and interest receivable, net of allowances of $139 and $129 as of March 31, 2018 and December 31, 2017, respectively
1,579

 
1,314

Loans and interest receivable, held for sale
6,537

 
6,398

Funds receivable and customer accounts
19,162

 
18,242

Prepaid expenses and other current assets
900

 
713

Total current assets
34,742

 
32,645

Long-term investments
1,487

 
1,961

Property and equipment, net
1,523

 
1,528

Goodwill
4,338

 
4,339

Intangible assets, net
138

 
168

Other assets
94

 
133

Total assets
$
42,322

 
$
40,774

LIABILITIES AND EQUITY
 
 
 
Current liabilities:
 
 
 
Accounts payable
$
187

 
$
257

Notes payable
3,000

 
1,000

Funds payable and amounts due to customers
20,662

 
19,742

Accrued expenses and other current liabilities
1,767

 
1,781

Income taxes payable
98

 
83

Total current liabilities
25,714

 
22,863

Deferred tax liability and other long-term liabilities
1,967

 
1,917

Total liabilities
27,681

 
24,780

Commitments and Contingencies (Note 13)

 


Equity:
 
 
 
Common stock, $0.0001 par value; 4,000 shares authorized; 1,183 and 1,200 shares outstanding as of March 31, 2018 and December 31, 2017, respectively

 

Treasury stock at cost, 71 and 47 shares as of March 31, 2018 and December 31, 2017, respectively
(3,811
)
 
(2,001
)
Additional paid-in-capital
14,287

 
14,314

Retained earnings
4,334

 
3,823

Accumulated other comprehensive loss
(169
)
 
(142
)
Total equity
14,641

 
15,994

Total liabilities and equity
$
42,322

 
$
40,774

The accompanying notes are an integral part of these condensed consolidated financial statements.

3


PayPal Holdings, Inc.
CONDENSED CONSOLIDATED STATEMENT OF INCOME
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions, except per share data)
 
(Unaudited)
Net revenues
$
3,685

 
$
2,975

Operating expenses:
 
 
 
Transaction expense
1,275

 
987

Transaction and loan losses
305

 
300

Customer support and operations
351

 
317

Sales and marketing
285

 
238

Product development
258

 
214

General and administrative
339

 
265

Depreciation and amortization
185

 
183

Restructuring and other charges
153

 
40

Total operating expenses
3,151

 
2,544

Operating income
534

 
431

Other income (expense), net
14

 
7

Income before income taxes
548

 
438

Income tax expense
37

 
54

Net income
$
511

 
$
384

 
 
 
 
Net income per share:
 
 
 
Basic
$
0.43

 
$
0.32

Diluted
$
0.42

 
$
0.32

 
 
 
 
Weighted average shares:
 
 
 
Basic
1,192

 
1,203

Diluted
1,217

 
1,216

The accompanying notes are an integral part of these condensed consolidated financial statements.


4


PayPal Holdings, Inc.
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions)
 
(Unaudited)
Net income
$
511

 
$
384

Other comprehensive (loss) income, net of reclassification adjustments:
 
 
 
Foreign currency translation
2

 
13

Unrealized (losses) gains on investments, net
(15
)
 
1

Tax benefit (expense) on unrealized (losses) gains on investments, net
4

 

Unrealized (losses) gains on hedging activities, net
(18
)
 
(72
)
Tax benefit (expense) on unrealized (losses) gains on hedging activities, net

 
1

Other comprehensive (loss) income, net of tax
(27
)
 
(57
)
Comprehensive income
$
484

 
$
327

The accompanying notes are an integral part of these condensed consolidated financial statements.


5


PayPal Holdings, Inc.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions)
 
(Unaudited)
Cash flows from operating activities:
 
 
 
Net income
$
511

 
$
384

Adjustments:
 
 
 
Transaction and loan losses
305

 
300

Depreciation and amortization
185

 
183

Stock-based compensation
205

 
145

Deferred income taxes
91

 
53

Gain on sale of principal loans receivable held for sale, net
(5
)
 
(6
)
Cost basis adjustments to loans and interest receivable held for sale
128

 

Changes in assets and liabilities:
 
 
 
Accounts receivable
25

 
36

Changes in loans and interest receivable held for sale, net
(1,291
)
 
6

Accounts payable
(35
)
 
(1
)
Income taxes payable

 
17

Other assets and liabilities
(468
)
 
(366
)
Net cash (used in) provided by operating activities
(349
)
 
751

Cash flows from investing activities:
 
 
 
Purchases of property and equipment
(178
)
 
(148
)
Changes in principal loans receivable, net
738

 
(136
)
Purchases of investments
(5,275
)
 
(7,109
)
Maturities and sales of investments
4,291

 
5,583

Funds receivable
429

 
567

Net cash provided by (used in) investing activities
5

 
(1,243
)
Cash flows from financing activities:
 
 
 
Proceeds from issuance of common stock
13

 
12

Purchases of treasury stock
(1,825
)
 
(517
)
Tax withholdings related to net share settlements of equity awards
(335
)
 
(101
)
Borrowings under financing arrangements, net of repayments
2,075

 

Funds payable and amounts due to customers
865

 
552

Net cash provided by (used in) financing activities
793

 
(54
)
Effect of exchange rate changes on cash, cash equivalents and restricted cash
(7
)
 
11

Net change in cash, cash equivalents and restricted cash
442

 
(535
)
Cash, cash equivalents and restricted cash at beginning of period
8,285

 
6,119

Cash, cash equivalents and restricted cash at end of period
$
8,727

 
$
5,584

Supplemental cash flow disclosures:
 
 
 
Cash paid for interest
$
8

 
$
1

Cash paid (refund received) for income taxes, net
$
(6
)
 
$
48

 
 
 
 
The below table reconciles cash, cash equivalents and restricted cash as reported in the condensed consolidated balance sheet to the total of the same amounts shown in the condensed consolidated statements of cash flows:
 
 
 
Cash and cash equivalents
$
2,879

 
$
1,240

Short term investments
16

 
19

Funds receivable and customer accounts
5,832

 
4,325

Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows
$
8,727

 
$
5,584


The accompanying notes are an integral part of these condensed consolidated financial statements.

6

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)


Note 1—Overview and Summary of Significant Accounting Policies

Overview and Organization

PayPal Holdings, Inc. ("PayPal," the "Company," "we," "us," or "our") was incorporated in Delaware in January 2015 and is a leading technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Our vision is to democratize financial services, as we believe that managing and moving money is a right for all people, not just the affluent. Our goal is to increase our relevance for consumers and merchants to manage and move their money anywhere in the world, anytime, on any platform and using any device. We also facilitate person-to-person payments through our PayPal, Venmo and Xoom products. Our combined payment solutions, including our PayPal, PayPal Credit, Braintree, Venmo, and Xoom products, compose our proprietary Payments Platform.

We operate globally and in a rapidly evolving regulatory environment characterized by a heightened regulatory focus on all aspects of the payments industry. That focus continues to become even more heightened as regulators on a global basis focus on such important issues as countering terrorist financing, anti-money laundering, privacy and consumer protection. Some of the laws and regulations to which we are subject were enacted recently, and the laws and regulations applicable to us, including those enacted prior to the advent of digital and mobile payments, are continuing to evolve through legislative and regulatory action and judicial interpretation. Non-compliance with laws and regulations, increased penalties and enforcement actions related to non-compliance, changes in laws and regulations or their interpretation, and the enactment of new laws and regulations applicable to us could have a material adverse impact on our business, results of operations and financial condition.

Significant Accounting Policies

Basis of Presentation and Principles of Consolidation
The condensed consolidated financial statements include the financial statements of PayPal and our wholly and majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Investments in entities where we hold less than a 20% ownership interest are generally accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes, and our share of the investees’ results of operations and is included in other income (expense), net on our condensed consolidated statement of income to the extent dividends are received. Our investment balance is included in long-term investments on our condensed consolidated balance sheet.
These condensed consolidated financial statements and accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2017 (the "2017 Form 10-K") filed with the Securities and Exchange Commission.
In the opinion of management, these condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for fair presentation of the condensed consolidated financial statements for interim periods. We have evaluated all subsequent events through the date the financial statements were issued. Certain amounts for prior years have been reclassified to conform to the financial presentation as of and for the three months ended March 31, 2018.

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses, during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to provisions for transaction and loan losses, loss contingencies, income taxes, revenue recognition and the valuation of goodwill and intangible assets. We base our estimates on historical experience and various other assumptions which we believe to be reasonable under the circumstances. Actual results could differ from those estimates.


7

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

Recent Accounting Guidance

In 2016, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance related to accounting for leases, which will require lessees to recognize lease assets and lease liabilities on the balance sheet for the rights and obligations created by all leases with terms greater than 12 months. As we are not a lessor, other changes in the guidance applicable to lessors do not apply. The guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. We will adopt the new guidance on January 1, 2019, using a modified retrospective basis and anticipate applying the optional practical expedients related to the transition. We are evaluating the impact of adopting this new accounting guidance on our financial statements.

In 2016, the FASB issued new guidance on the measurement of credit losses on financial instruments. Credit losses on loans, trade and other receivables, held-to-maturity debt securities and other instruments will reflect our current estimate of the expected credit losses that generally will result in the earlier recognition of allowances for losses. Credit losses on available-for-sale debt securities with unrealized losses will be recognized as allowances for credit losses limited to the amount by which fair value is below amortized cost. Additional disclosures will be required, including information used to track credit quality by year of origination for most financing receivables. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. We are required to apply the provisions of this guidance as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted with impairment of available-for-sale debt securities applied prospectively after adoption. We are evaluating the impact and approach to adopting this new accounting guidance on our financial statements.

In 2017, the FASB issued new guidance that requires certain premiums on callable debt securities to be amortized to the earliest call date. The amortization period for callable debt securities purchased at a discount will not be impacted.  Therefore, the new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. Transition is on a modified retrospective basis with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We are evaluating the impact this new accounting guidance will have on our financial statements.

In 2018, the FASB issued new guidance in response to tax reform that allows the option to reclassify stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017 (the "Tax Act") from accumulated other comprehensive income to retained earnings. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. If such an option is elected, transition can be applied either retrospectively to each period in which the effect of tax reform is recognized or applied with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We are evaluating the impact this new accounting guidance will have on our financial statements.

Recently Adopted Accounting Guidance

In 2014, the FASB issued new accounting guidance related to revenue recognition, which was further updated in 2016 for reporting revenue gross versus net. This new guidance replaced all existing GAAP guidance on this topic and eliminated all industry-specific guidance. The new revenue recognition guidance provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. We adopted the guidance effective January 1, 2018 on a full retrospective basis. We performed an impact analysis for the opening balance sheet as of January 1, 2016 as well as for the years ended December 31, 2016 and 2017. The impacts were deemed de minimis. No practical expedients or exemptions were elected in conjunction with the adoption of this new guidance. For additional information, see "Note 2—Revenue."

In 2016, the FASB issued new accounting guidance related to the classification and measurement of financial instruments. This new guidance amends GAAP by requiring equity investments to be measured at fair value with changes in fair value recognized in net income. This new guidance also amends the presentation of certain fair value changes for financial liabilities measured at fair value and it amends certain disclosure requirements associated with the fair value of financial instruments. Additionally, in 2018, the FASB issued technical corrections and improvements to this guidance effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years beginning after June 15, 2018. We are required to apply the new guidance on a modified retrospective basis to all outstanding instruments, with a cumulative effect adjustment as of the date of adoption and on a prospective basis to all outstanding equity investments without a readily determinable fair value. We adopted the guidance,

8

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

including early adoption of the technical corrections and improvements, effective January 1, 2018. Beginning in the first quarter of 2018, we applied the measurement alternative to all our equity investments, which required us to measure these equity investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment in the same issuer. The adoption of this guidance did not have a material impact on our financial statements.

In 2016, the FASB issued new guidance on classifying certain cash receipts and cash payments on the statement of cash flows. The new guidance addresses the classification of cash flows related to: debt prepayment or extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance, including bank-owned life insurance, distributions received from equity method investees and beneficial interests in securitization transactions. The guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The guidance should be applied retrospectively after adoption. We adopted the guidance effective January 1, 2018. The adoption of this guidance did not have a material impact on our financial statements.

In 2016, the FASB issued new guidance on restricted cash on the statement of cash flows. The new guidance requires the classification and presentation of changes in restricted cash and cash equivalents in the statement of cash flows. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning and ending balances shown on the statement of cash flows. The guidance should be applied retrospectively after adoption. We adopted the guidance effective January 1, 2018 on a retrospective basis. The beginning and ending balances of cash and cash equivalents on the statement of cash flows now include restricted cash and restricted cash equivalents, such as cash and cash equivalents underlying customer accounts and restricted cash and restricted cash equivalents within short-term investments.

In 2017, the FASB issued new guidance clarifying the scope and application of the de-recognition of non-financial assets and the sale or transfer of non-financial assets, including partial sales. We adopted the guidance effective January 1, 2018 on a full retrospective basis. The adoption of this guidance did not have a material impact on our financial statements.

In 2017, the FASB issued new guidance clarifying which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Specifically, an entity would apply modification accounting only if the fair value, vesting conditions, or classification of the awards changes as a result of changes in the terms or conditions. We adopted the guidance effective January 1, 2018 and applied it prospectively upon adoption. The adoption of this guidance did not have a material impact on our financial statements.

In 2017, the FASB issued new guidance intended to better align the results of hedge accounting with an entity’s risk management activities. This guidance updates the designation and measurement guidance for qualifying hedging relationships by expanding hedge accounting for both nonfinancial and financial risk components and by refining the measurement of hedge results to better reflect an entity’s hedging strategies. The amendments will also align the recognition and presentation of the effects of the hedge results in the financial statements to increase the understandability of the results of an entity’s intended hedging strategies. Additionally, the guidance includes certain targeted improvements to ease the operational burden of applying hedge accounting. We are required to apply the guidance with a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year in which the guidance is adopted and prospectively apply the presentation and disclosure guidance. We early adopted the guidance in the first quarter of 2018 using a modified retrospective approach to reflect application of the new guidance effective January 1, 2018. Adoption of the guidance did not have a material impact on our financial statements.

In 2018, the FASB issued new guidance to provide clarity around application of income tax accounting in situations where the assessment of tax implications of the Tax Act might not be complete as of period end in which the Tax Act was enacted. This guidance prescribes that an entity must reflect the income tax impact of the Tax Act in the period in which the tax accounting is complete and allows an entity to report provisional amounts for those specific effects of the Act for which the accounting is incomplete but a reasonable estimate can be determined. No provisional amounts should be reported for specific effects of the Tax Act for which a reasonable estimate cannot be determined, and the entity should continue to apply the provisions of the tax laws that were in effect prior to the enactment of the Tax Act. It further allows a measurement period of one year from the date of enactment within which to complete the accounting for all impacts of the Tax Act. Our financial statements reflect tax accounting in compliance with this guidance.


9

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

Note 2—Revenue

We earn revenue primarily by processing customer transactions on our Payments Platforms and from other value added services. Our revenues are classified into two categories, transaction revenues and revenues from other value added services:
Transaction Revenues
We earn transaction revenues primarily from fees charged to consumers and merchants on a transaction basis. These fees may have a fixed and variable component. The variable component is generally a percentage of the value of the payment amount, and is known at the time the transaction is processed. If the underlying transaction is approved for refund, we reimburse the variable component of the fee. We estimate the amount of fee refunds that will be processed during the quarter and record a provision against our net revenues. The volume of activity processed through our Payments Platform, which results in transaction revenue, is referred to as Total Payments Volume (“TPV”). We define TPV as the value of payments, net of reversals, successfully completed through our Payments Platform or enabled by PayPal via a partner payment solution, not including gateway-exclusive transactions. We earn additional fees on transactions where we perform a currency conversion and when we enable cross-border transactions (i.e., transactions where the merchant and consumer are in different countries).

Our contracts with our customers are usually open ended and can be terminated by either party without a termination penalty after the notice period has lapsed. Therefore, our contracts are defined at the transaction level and do not extend beyond the service already provided. Our contracts renew automatically without significant material rights. Some of our contracts include tiered pricing, based primarily on volume. The fee charged per transaction is adjusted up or down if the volume processed for a specified period is different from prior period defined volumes. We have concluded that this volume-based pricing approach does not constitute a future material right since the discount is within a range typically offered to class of customers with similar volume. We provide account set up and payment-processing services and account for these services as one performance obligation satisfied at a point in time when the payment transaction is complete. The transaction price is therefore fully allocated to one performance obligation. We deduct our fees from the transaction payment processed. We do not have any capitalized contract costs, and do not carry any contract balances.

We recognize fees charged to our customers primarily on a gross basis as transaction revenue when we are the principal in respect of processing payments. As a principal to the transaction, we bear primary responsibility for the fulfillment of the payment service, contract directly with our customers, control the product specifications and define the value proposal from our services. Further, we have full discretion in determining the fee charged to our customers, and therefore, we bear the full margin risk. We are also responsible for providing customer support. Related transaction costs paid to our payment processors and other financial institutions are recognized as transaction expense.

We provide merchants and consumers with protection programs on substantially all transactions completed through our Payments Platforms, except for transactions using our gateway products. These programs protect both merchants and consumers from loss primarily due to fraud and counterparty performance. Our buyer protection program provides protection to consumers for qualifying purchases by reimbursing the consumer for the full amount of the purchase if a purchased item does not arrive or does not match the seller’s description. Our seller protection programs provide protection to merchants against claims that a transaction was not authorized by the buyer or claims that an item was not received by covering the seller for the full amount of the payment on eligible sales. These protection programs are considered standard service warranties for which we estimate and record associated costs in transaction and loan losses during the period the payment transaction is processed.
Revenues from Other Value Added Services
We earn revenues from other value added services which comprise revenue earned through partnerships, subscription fees, gateway fees, and other services that we provide to our consumers and merchants. The contracts for these services cannot usually be terminated by either party without penalty. These contracts typically have one performance obligation which is provided and recognized over the term of the contract. The transaction price is generally fixed and known at the end of each reporting period, however, for some agreements, it may be necessary to estimate the transaction price using the expected value method.
We recognize revenue received from our financial institution partners on a net basis when we are considered the agent in respect of processing transactions. As we are an agent to the transaction, our financial institution partners directly contract with the end customers and are ultimately responsible for the fulfillment of the services. In an agent relationship, we may have some discretion in determining the fee charged to end customers, but always in conjunction with a financial institution partner. As a result, related costs incurred by our financial institution partners when we are an agent are included as a reduction to the revenue share received.

10

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

We also earn revenues from interest and fees earned on our loans receivable portfolio, gain on sale of participation interest in certain loans and advances and interest earned on certain PayPal customer account balances. Interest and fees earned on the PayPal credit portfolio of loans receivable are computed and recognized based on contractual interest and fee rates, and are net of any required reserves and amortization of deferred origination costs.
Disaggregation of Revenue

We determine operating segments based on how our chief operating decision maker (“CODM”) manages the business, makes operating decisions around the allocation of resources and evaluates operating performance. Our CODM is our Chief Executive Officer, who reviews our operating results on a consolidated basis. We operate in one segment and have one reportable segment. Based on the information provided to and reviewed by our CODM, we believe that the nature, amount, timing and uncertainty of our revenue and cash flows and how they are affected by economic factors is most appropriately depicted through our primary geographical markets and type of revenue (transaction and other value added services) categories. Revenues recorded within these categories are earned from similar services for which the nature of associated fees and the related revenue recognition models are substantially the same.

The following table presents our revenues disaggregated by primary geographical markets:
 
Three Months Ended March 31,
 
2018
  
2017
 
(In millions)
Primary geographical markets
 
 
 
United States ("U.S.")
$
2,023

 
$
1,606

United Kingdom ("U.K.")
392

 
313

Other countries(1)
1,270

 
1,056

Total revenues(2)
$
3,685

 
$
2,975

 
 
 
 
Types of revenues
 
 
 
Transaction revenues
$
3,197

 
$
2,624

Other value added services
488

 
351

Total revenues(2)
$
3,685

 
$
2,975

(1) No single country included in the other countries category generated more than 10% of total revenue.
(2) Total revenues include interest, fees and gains earned on loan and interest receivables, net and held for sale portfolio, as well as hedging gains or losses and interest earned on certain PayPal customer balances of $359 million and $307 million for the three months ended March 31, 2018 and 2017, respectively, which do not represent revenues recognized in the scope of ASC Topic 606, Revenue from contracts with customers.

Net revenues are attributed to the U.S., the U.K. and other countries primarily based upon the country in which the merchant is located, or in the case of a cross-border transaction, may be earned from the country in which the consumer and the merchant respectively reside. Net revenues earned from value added services are typically attributed to the country in which either the customer or partner reside.

Note 3—Net Income Per Share
Basic net income per share is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing net income for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding for the period. The dilutive effect of outstanding equity incentive awards is reflected in diluted net income per share by application of the treasury stock method. The calculation of diluted net income per share excludes all anti-dilutive common shares.

11

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)


The following table sets forth the computation of basic and diluted net income per share for the periods indicated:
 
Three Months Ended March 31,
 
2018
  
2017
 
(In millions, except per share amounts)
Numerator:
 
 
 
Net income
$
511

 
$
384

Denominator:
 
 
 
Weighted average shares of common stock - basic
1,192

 
1,203

Dilutive effect of equity incentive awards
25

 
13

Weighted average shares of common stock - diluted
1,217

 
1,216

Net income per share:
 
 
 
Basic
$
0.43

 
$
0.32

Diluted
$
0.42

 
$
0.32

Common stock equivalents excluded from income per diluted share because their effect would have been anti-dilutive

 
6


Note 4—Business Combinations
There were no acquisitions or divestitures completed in either the three months ended March 31, 2018 or 2017.

Note 5—Goodwill and Intangible Assets

Goodwill

The following table presents goodwill balances and adjustments to those balances during the three months ended March 31, 2018:
 
December 31,
2017
 
Goodwill
Acquired
 
Adjustments
 
March 31,
2018
 
 (In millions)
Total goodwill
$
4,339

 
$

 
$
(1
)
 
$
4,338


Intangible Assets

The components of identifiable intangible assets are as follows:
 
March 31, 2018
 
December 31, 2017
 
Gross Carrying Amount  
 
Accumulated Amortization 
 
Net Carrying Amount
 
Weighted Average Useful Life (Years)
 
Gross Carrying Amount 
 
Accumulated Amortization 
 
Net Carrying Amount
 
Weighted Average Useful Life (Years)
 
(In millions, except years)
Intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Customer lists and user base
$
613

 
$
(574
)
 
$
39

 
3
 
$
613

 
$
(563
)
 
$
50

 
3
Marketing related
198

 
(197
)
 
1

 
1
 
198

 
(196
)
 
2

 
1
Developed technologies
274

 
(227
)
 
47

 
3
 
274

 
(215
)
 
59

 
3
All other
245

 
(194
)
 
51

 
5
 
245

 
(188
)
 
57

 
5
Intangible assets, net
$
1,330

 
$
(1,192
)
 
$
138

 
 
 
$
1,330

 
$
(1,162
)
 
$
168

 
 

12

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

        
Amortization expense for intangible assets was $30 million and $27 million for the three months ended March 31, 2018 and 2017, respectively.

Expected future intangible asset amortization as of March 31, 2018 was as follows (in millions):
Fiscal years:
 
Remaining 2018
$
69

2019
42

2020
27

 
$
138


Note 6—Geographical Information

The following table summarizes long-lived assets based on geography:

 
March 31,
2018
  
December 31,
2017
 
(In millions)
Long-lived assets:
 
 
 
U.S.
$
1,422

 
$
1,432

Other countries
101

 
96

Total long-lived assets
$
1,523

 
$
1,528


Tangible long-lived assets as of March 31, 2018 and December 31, 2017 consisted of property and equipment. Long-lived assets attributed to the U.S. and other countries are based upon the country in which the asset is located or owned.

Note 7—Funds Receivable and Customer Accounts

The following table summarizes the assets underlying our funds receivable and customer accounts as of March 31, 2018 and December 31, 2017.
 
March 31,
2018
 
December 31,
2017
 
(In millions)
Cash and cash equivalents
$
5,832

 
$
5,387

Government and agency securities
8,036

 
6,651

Time deposits
373

 
739

Corporate debt securities
1,129

 
1,248

Funds receivable
3,792

 
4,217

Total funds receivable and customer accounts
$
19,162

 
$
18,242



13

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

As of March 31, 2018 and December 31, 2017, the estimated fair value of our investments classified as available-for-sale included within funds receivable and customer accounts was as follows:
 
March 31, 2018
 
Gross
Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(In millions)
Government and agency securities
$
6,962

 
$

 
$
(6
)
 
$
6,956

Corporate debt securities
392

 

 
(1
)
 
391

Total
$
7,354

 
$

 
$
(7
)
 
$
7,347


 
December 31, 2017
 
Gross
Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(In millions)
Government and agency securities
$
5,946

 
$

 
$
(5
)
 
$
5,941

Corporate debt securities
529

 

 

 
529

Total
$
6,475

 
$

 
$
(5
)
 
$
6,470


We elect to account for certain investments within customer accounts, including foreign-currency denominated available-for-sale investments, under the fair value option. As a result, any gains and losses from fair value changes on such investments are recognized in other income (expense), net on the condensed consolidated statement of income. Election of the fair value option allows us to significantly reduce the accounting asymmetry that would otherwise arise when recognizing the changes in the fair value of available-for-sale investments and the corresponding foreign exchange gains and losses relating to customer liabilities. As of March 31, 2018 and December 31, 2017, the estimated fair value of our investments included within funds receivable and customer accounts under the fair value option was $1.8 billion and $1.4 billion, respectively. In the three months ended March 31, 2018 and 2017, $40 million and $15 million of net gains from fair value changes, respectively, were recognized in other income (expense), net on the condensed consolidated statement of income.

The aggregate fair value of investments in an unrealized loss position was $6.4 billion as of March 31, 2018 and $6.0 billion as of December 31, 2017. The aggregate gross unrealized loss on our short-term and long-term investments was not material as of March 31, 2018 and December 31, 2017. We believe the decline in value is due to temporary market conditions and expect to recover the entire amortized cost basis of the securities. We neither intend nor anticipate the need to sell the securities before recovery. We will continue to monitor the performance of the investment portfolio and assess market and interest rate risk when evaluating whether other-than-temporary impairment exists.

As of March 31, 2018 and December 31, 2017, we had no material investments that had been in a continuous unrealized loss position for greater than 12 months. Amounts reclassified to earnings from unrealized gains and losses were not material for the three months ended March 31, 2018 and 2017.

The estimated fair values of our investments classified as available-for-sale included within funds receivable and customer accounts by date of contractual maturity at March 31, 2018 were as follows:
 
March 31,
2018
 
(In millions)
One year or less
$
7,292

One year through two years
26

Two years through three years
29

Total
$
7,347



14

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

Note 8—Investments

As of March 31, 2018 and December 31, 2017, the estimated fair value of our short-term and long-term investments classified as available-for-sale was as follows:
 
March 31, 2018
 
Gross
Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(In millions)
Short-term investments(1)(2):
 
  
 
  
 
 
 
Corporate debt securities
$
2,340

 
$

 
$
(4
)
 
$
2,336

Government and agency securities
495

 

 
(1
)
 
494

Long-term investments(1):
 
 
 
 
 
 


Corporate debt securities
1,324

 
1

 
(16
)
 
1,309

Government and agency securities
88

 

 

 
88

Total(1)(2)
$
4,247

 
$
1

 
$
(21
)
 
$
4,227

(1) Excludes short-term restricted cash of $81 million that we intend to use to support our global sabbatical program and a counterparty guarantee, and long-term restricted cash of $2 million.
(2) Excludes time deposits of $199 million, which are not considered available-for-sale securities.

 
December 31, 2017
 
Gross
Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(In millions)
Short-term investments(1)(2):
 
  
 
  
 
 
 
Corporate debt securities
$
2,092

 
$
1

 
$
(1
)
 
$
2,092

Government and agency securities
210

 

 

 
210

Long-term investments(1):
 
 
 
 
 
 
 
Corporate debt securities
1,769

 
2

 
(7
)
 
1,764

Government and agency securities
98

 

 

 
98

Total(1)(2)
$
4,169

 
$
3

 
$
(8
)
 
$
4,164

(1) Excludes short-term restricted cash of $79 million that we intend to use to support our global sabbatical program and a counterparty guarantee, and long-term restricted cash of $2 million.
(2) Excludes time deposits of $163 million, which are not considered available-for-sale securities.

We elected to account for foreign denominated available-for-sale investments held in our Luxembourg banking subsidiary under the fair value option. Election of the fair value option allows us to recognize any gains and losses from fair value changes on such investments in other income (expense), net on the condensed consolidated statement of income to offset certain foreign exchange gains and losses on our foreign denominated customer liabilities. As of March 31, 2018 and December 31, 2017, the estimated fair value of our investments included within short-term investments and long-term investments under the fair value option was $317 million and $277 million, respectively. In the three months ended March 31, 2018 and 2017, $8 million and $6 million, respectively, of net gains from fair value changes were recognized in other income (expense), net on the condensed consolidated statement of income.

The aggregate fair value of short-term and long-term investments in an unrealized loss position was $3.4 billion as of March 31, 2018 and $2.8 billion as of December 31, 2017, of which $206 million and $207 million, respectively, was in a continuous unrealized loss position for greater than 12 months. The aggregate gross unrealized loss on our short-term and long-term investments was not material as of March 31, 2018 and December 31, 2017. We believe the decline in value is due to temporary market conditions and expect to recover the entire amortized cost basis of the securities. We neither intend nor anticipate the need to sell the securities before recovery. We will continue to monitor the performance of the investment portfolio and assess market and interest rate risk when evaluating whether other-than-temporary impairment exists. Amounts reclassified to earnings from unrealized gains and losses were not material for the three months ended March 31, 2018 and 2017.


15

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

The estimated fair values of our short-term and long-term investments classified as available-for-sale by date of contractual maturity at March 31, 2018 were as follows:
 
March 31, 2018
 
(In millions)
One year or less
$
2,830

One year through two years
823

Two years through three years
344

Three years through four years
171

Four years through five years
49

Greater than five years
10

Total
$
4,227


Other Investments

We have equity investments which consist primarily of minority equity interests in companies that are not publicly traded and are reported in long-term investments on our condensed consolidated balance sheet. Our equity investments totaled $88 million as of March 31, 2018 and December 31, 2017.

Note 9—Fair Value Measurement of Assets and Liabilities

Financial Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis

The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017:

 
March 31, 2018
 
 
Significant Other
Observable Inputs
(Level 2)
 
 
(In millions)
Assets:
 
 
 
 
 
Cash and cash equivalents(1)
 
$
1,104

 
 
$
1,104

Short-term investments(2):
 
 
 
 
 
Corporate debt securities
 
2,419

 
 
2,419

Government and agency securities
 
728

 
 
728

Total short-term investments
 
$
3,147

 
 
$
3,147

Funds receivable and customer accounts(3)
 
9,424

 
 
9,424

Derivatives
 
56

 
 
56

Long-term investments(2):
 
 
 
 
 
Corporate debt securities
 
1,309

 
 
1,309

Government and agency securities
 
88

 
 
88

Total long-term investments
 
1,397

 
 
1,397

Total financial assets
 
$
15,128

 
 
$
15,128

Liabilities:
 
 
 
 
 
Derivatives
 
$
197

 
 
$
197

(1) Excludes cash of $1.8 billion not subject to fair value measurement on a recurring basis.
(2) Excludes restricted cash of $83 million, time deposits of $199 million, and equity investments of $88 million not subject to fair value measurement on a recurring basis.
(3) Excludes cash, time deposits and funds receivable of $9.7 billion underlying funds receivable and customer accounts not subject to fair value measurement on a recurring basis.

16

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)


 
December 31, 2017
 
 
Significant Other
Observable Inputs
(Level 2)
 
 
(In millions)
Assets:
 
 
 
 
 
Cash and cash equivalents(1)
 
$
791

 
 
$
791

Short-term investments(2):
 
 
 
 
 
Corporate debt securities
 
2,219

 
 
2,219

Government and agency securities
 
351

 
 
351

Total short-term investments
 
2,570

 
 
2,570

Funds receivable and customer accounts(3)
 
8,007

 
 
8,007

Derivatives
 
66

 
 
66

Long-term investments(2):
 
 
 
 
 
Corporate debt securities
 
1,773

 
 
1,773

Government and agency securities
 
98

 
 
98

Total long-term investments
 
1,871

 
 
1,871

Total financial assets
 
$
13,305

 
 
$
13,305

Liabilities:
 
 
 
 
 
Derivatives
 
$
218

 
 
$
218

(1) Excludes cash of $2.1 billion not subject to fair value measurement on a recurring basis.
(2) Excludes restricted cash of $81 million, time deposits of $163 million, and equity investments of $88 million not subject to fair value measurement on a recurring basis.
(3) Excludes cash, time deposits and funds receivable of $10.2 billion underlying funds receivable and customer accounts not subject to fair value measurement on a recurring basis.

Our financial assets and liabilities are valued using market prices on both active markets (Level 1) and less active markets (Level 2). Level 1 instrument valuations are obtained from real-time quotes for transactions in active exchange markets involving identical assets. Level 2 instrument valuations are obtained from readily available pricing sources for comparable instruments, identical instruments in less active markets, or models using market observable inputs.

A majority of our derivative instruments are valued using pricing models that take into account the contract terms as well as multiple inputs where applicable, such as currency rates, interest rate yield curves, option volatility and equity prices. Our derivative instruments are primarily short-term in nature, generally one month to one year in duration. Certain foreign currency contracts designated as cash flow hedges may have a duration of up to 18 months.

We did not have any transfers of financial instruments between valuation levels during the three months ended March 31, 2018 and 2017. As of March 31, 2018, we did not have any assets or liabilities requiring measurement at fair value without observable market values that would require a high level of judgment to determine fair value (Level 3).

Cash and cash equivalents are short-term, highly liquid investments with original maturities of three months or less when purchased and are comprised primarily of bank deposits, government and agency securities and commercial paper.

We elect to account for foreign currency denominated available-for-sale investments underlying funds receivable and customer accounts, short term investments and long term investments under the fair value option as further discussed in "Note 7—Funds Receivable and Customer Accounts" and "Note 8—Investments."


17

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

Financial Assets and Liabilities Not Measured and Recorded at Fair Value

Our financial instruments, including cash, time deposits, accounts receivable, loans and interest receivable, net, loans and interest receivable held for sale, funds receivable, certain customer accounts, accounts payable, notes payable, and funds payable and amounts due to customers are carried at cost, which approximates their fair value due to the short-term maturity of these instruments. If these financial instruments were measured at fair value in the financial statements, cash would be classified as Level 1, time deposits, certain customer accounts, and notes payable would be classified as Level 2, and the remaining financial instruments would be classified as Level 3 in the fair value hierarchy.

Note 10—Derivative Instruments

Summary of Derivative Instruments

Our primary objective in holding derivatives is to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. Our derivatives expose us to credit risk to the extent that our counterparties may be unable to meet the terms of the arrangement. We seek to mitigate such risk by limiting our counterparties to, and by spreading the risk across, major financial institutions. In addition, the potential risk of loss with any one counterparty resulting from this type of credit risk is monitored on an ongoing basis.

Foreign Exchange Contracts

We transact in various foreign currencies and have significant international revenues and costs denominated in foreign currencies, which subjects us to foreign currency risk. We have a foreign currency exposure management program whereby we designate certain foreign currency exchange contracts, generally with maturities of 18 months or less, to reduce the volatility of cash flows primarily related to forecasted revenues and expenses denominated in foreign currencies. The objective of the foreign exchange contracts is to help mitigate the risk that the U.S. dollar-equivalent cash flows are adversely affected by changes in the applicable U.S. dollar/foreign currency exchange rate. These derivative instruments are designated as cash flow hedges and accordingly, the derivative’s gain or loss is initially reported as a component of accumulated other comprehensive income (loss) and subsequently reclassified into revenue in the same period the forecasted transaction affects earnings. We evaluate the effectiveness of our foreign exchange contracts on a quarterly basis by comparing the change in the fair value of the derivative instruments with the change in the fair value of the forecasted cash flows of the hedged item. We did not exclude any component of the changes in fair value of the derivative instruments from the assessment of hedge effectiveness. We do not use any foreign exchange contracts for trading or speculative purposes.

As of March 31, 2018, we estimated that $126 million of net derivative losses related to our cash flow hedges included in accumulated other comprehensive income will be reclassified into earnings within the next 12 months. During the three months ended March 31, 2018 and 2017, we did not discontinue any cash flow hedges because it was probable that the original forecasted transaction would not occur and as such, did not reclassify any gains or losses to earnings. If we elect to discontinue our cash flow hedges and it is probable that the original forecasted transaction will occur, we continue to report them in accumulated other comprehensive income (loss) until the forecasted transaction affects earnings at which point we also reclassify the de-designated hedges into earnings. Gains and losses on derivatives held after we discontinue our cash flow hedge and gains and losses on derivative instruments that are not designated as cash flow hedges are recorded in the same financial statement line item to which the derivative relates.

We have an additional foreign currency exposure management program whereby we use foreign exchange contracts to offset the foreign exchange risk on our assets and liabilities denominated in currencies other than the functional currency of our subsidiaries. These contracts are not designated as hedging instruments and reduce, but do not entirely eliminate, the impact of currency exchange rate movements on our assets and liabilities. The foreign currency gains and losses on our assets and liabilities are recorded in other income (expense), net, which is offset by the gains and losses on the foreign exchange contracts.


18

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

Fair Value of Derivative Contracts

The fair value of our outstanding derivative instruments as of March 31, 2018 and December 31, 2017 was as follows:
 
Balance Sheet Location
 
March 31,
2018
 
December 31,
2017
 
 
 
(In millions)
Derivative Assets:
 
 
 
 
 
Foreign exchange contracts designated as cash flow hedges
Other current assets
 
$
5

 
$

Foreign exchange contracts not designated as hedging instruments
Other current assets
 
51

 
66

Total derivative assets
 
 
$
56

 
$
66

 
 
 
 
 
 
Derivative Liabilities:
 
 
 
 
 
Foreign exchange contracts designated as cash flow hedges
Other current liabilities
 
$
122

 
$
94

Foreign exchange contracts not designated as hedging instruments
Other current liabilities
 
75

 
124

Total derivative liabilities
 
 
$
197

 
$
218

 
 
 
 
 
 
Net fair value of derivative instruments
 
 
$
(141
)
 
$
(152
)

Master Netting Agreements - Rights of Setoff

Under master netting agreements with respective counterparties to our foreign exchange contracts, subject to applicable requirements, we are allowed to net settle transactions of the same type with a single net amount payable by one party to the other.
However, we have elected to present the derivative assets and derivative liabilities on a gross basis in our condensed consolidated balance sheet. Rights of setoff associated with our foreign exchange contracts represented a potential offset to both assets and liabilities by $52 million as of March 31, 2018 and $56 million as of December 31, 2017. During the year ended December 31, 2017, we entered into collateral security arrangements that provide for collateral to be received or posted when the net fair value of certain financial instruments fluctuates from contractually established thresholds. We posted $70 million and $38 million of cash collateral related to our derivative liabilities as of March 31, 2018 and December 31, 2017, respectively, which is recognized in other current assets on our condensed consolidated balance sheet and is related to the right to reclaim cash collateral. We received $6 million in counterparty cash collateral related to our derivative assets as of March 31, 2018 which is recognized in other current liabilities on our condensed consolidated balance sheet and is related to the obligation to return cash collateral. We did not receive any counterparty cash collateral as of December 31, 2017

Effect of Derivative Contracts on Accumulated Other Comprehensive Income (Loss)

The following table summarizes the activity of derivative contracts that qualify for hedge accounting as of March 31, 2018 and December 31, 2017, and the impact of designated derivative instruments on accumulated other comprehensive income (loss) for the three months ended March 31, 2018 and 2017:
 
December 31, 2017
 
Amount of gains (losses)
recognized in other
comprehensive income
 
Less: Amount of gains (losses)
reclassified from
accumulated other
comprehensive income
to net revenue
 
March 31, 2018
 
(In millions)
Foreign exchange contracts designated as cash flow hedges
$
(111
)
 
$
(62
)
 
$
(44
)
 
$
(129
)



19

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

 
December 31, 2016
 
Amount of gains (losses)
recognized in other
comprehensive income
 
Less: Amount of gains (losses)
reclassified from
accumulated other
comprehensive income
to net revenue
 
March 31, 2017
 
(In millions)
Foreign exchange contracts designated as cash flow hedges
$
131

 
$
(32
)
 
$
40

 
$
59

 
Effect of Derivative Contracts on Condensed Consolidated Statements of Income
The following table provides the location in the condensed consolidated statements of income and amount of the recognized gains or losses related to our derivative instruments designated as hedging instruments:
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions)
 
Revenue
 
Revenue
Total amounts presented in the condensed consolidated statement of income in which the effects of cash flow hedges are recorded
$
3,685

 
$
2,975

Gains (losses) on foreign exchange contracts designated as cash flow hedges reclassified from accumulated other comprehensive income into net income
$
(44
)
 
$
40


The following table provides the location in the condensed consolidated statements of income and amount of the recognized gains or losses related to our derivative instruments not designated as hedging instruments:
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions)
Gains (losses) on foreign exchange contracts recognized in other income (expense), net
$
(44
)
 
$
(40
)
Gains (losses) on foreign exchange contracts recognized in net revenues
(6
)
 
$

Total gains (losses) recognized from foreign exchange contracts not designated as hedging instruments
$
(50
)
 
$
(40
)


Notional Amounts of Derivative Contracts

Derivative transactions are measured in terms of the notional amount; however, this amount is not recorded on the balance sheet and is not, when viewed in isolation, a meaningful measure of the risk profile of the derivative instruments. The notional amount is generally not exchanged, but is used only as the underlying basis on which the value of foreign exchange payments under these contracts is determined. The following table provides the notional amounts of our outstanding derivatives:
 
March 31, 2018
 
December 31, 2017
 
(In millions)
Foreign exchange contracts designated as cash flow hedges
$
3,309

 
$
2,639

Foreign exchange contracts not designated as hedging instruments
6,515

 
5,669

Total
$
9,824

 
$
8,308



20

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

Note 11—Loans and Interest Receivable

We offer credit products to consumers and certain small and medium-sized merchants. We work with independent chartered financial institutions that extend credit to the consumer or merchant using our credit products in the U.S. For our consumer credit products outside the U.S., we extend credit through our Luxembourg banking subsidiary. For our merchant credit products outside the U.S., we extend working capital advances in the U.K. through our Luxembourg banking subsidiary, and we extend working capital loans in Australia through an Australian subsidiary. We purchase the related receivables extended by an independent chartered financial institution and are responsible for servicing functions related to all our credit products. During the three months ended March 31, 2018 and 2017, we purchased approximately $3.0 billion and $2.1 billion, respectively, in credit receivables.

Loans and Interest Receivable, Held for Sale

In November 2017, we reached an agreement to sell our U.S. consumer credit receivables portfolio to Synchrony Bank. Historically, this portfolio was reported as outstanding principal balances, net of any participation interest sold and pro-rata allowances, including unamortized deferred origination costs and estimated collectible interest and fees. Upon approval of our Board of Directors to sell these receivables, the portfolio was reclassified as held for sale and recorded at the lower of cost or fair value, determined on an aggregate basis. As of March 31, 2018 and December 31, 2017, the total outstanding balance in our held for sale portfolio was $6.5 billion and $6.4 billion, respectively, net of the participation interest sold to an independent chartered financial institution and other investors of $1.1 billion and $1.1 billion, respectively.

We use consumer FICO scores, where available, among other measures, in evaluating the credit quality of our U.S. PayPal Credit consumer receivables, held for sale. A FICO score is a type of credit score that lenders use to assess an applicant's credit risk and whether to extend credit. Individual FICO scores are generally obtained each quarter in which the U.S. consumer has an outstanding consumer receivable that we own. The weighted average U.S. consumer FICO scores related to our loans and interest receivable, held for sale balance outstanding at March 31, 2018 and December 31, 2017 was 679 and 680, respectively.

As of March 31, 2018 and December 31, 2017, approximately 50.4% and 51.1%, respectively, of the pool of loans and interest receivable, held for sale was due from U.S. consumers with FICO scores greater than or equal to 680, which is generally considered "prime" by the consumer credit industry. As of March 31, 2018 and December 31, 2017, approximately 12.3% and 11.7%, respectively, of the pool of loans and interest receivable, held for sale was due from U.S. customers with FICO scores below 599.

21

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)


The following table presents the principal amount of U.S. consumer loans and interest receivable segmented by a FICO score range:
 
March 31, 2018
  
December 31, 2017
 
(In millions)
> 760
$
812

 
$
832

680 - 759
2,474

 
2,439

600 - 679
2,432

 
2,378

< 599
804

 
752

Total
$
6,522

 
$
6,401


FICO score segmentation included in the table above provides the credit quality of these receivables for comparative purposes only.

The following table presents the delinquency status of U.S. consumer loans and interest receivable, held for sale. The amounts shown below are based on the number of days past the billing date to the consumer. Current represents balances that are within 30 days of the billing date. As of March 31, 2018 and December 31, 2017, approximately 91.9% and 90.6%, respectively, of the portfolio of U.S. consumer loans and interest receivable, held for sale was current.

March 31, 2018(1)
(In millions)
Current
 
30 - 59 Days
 
60 - 89 Days
 
90 - 180 Days
 
Total Past 30 days
 
Total
$
5,994

 
$
208

 
$
88

 
$
232

 
$
528

 
$
6,522

(1) Includes approximately $31 million of U.S. consumer loans and interest receivables not designated as held for sale that are fully reserved and are expected to be charged off, and excludes approximately $46 million related to accrued unbilled interest.
December 31, 2017(1)
(In millions)
Current
 
30 - 59 Days
 
60 - 89 Days
 
90 - 180 Days
 
Total Past 30 days
 
Total
$
5,800

 
$
240

 
$
103

 
$
258

 
$
601

 
$
6,401

(1) Includes approximately $50 million of U.S. consumer loans and interest receivables not designated as held for sale that are fully reserved and are expected to be charged off, and excludes approximately $47 million related to accrued unbilled interest.

No allowances are recorded for potential losses against the loans and interest receivable, held for sale portfolio. Adjustments to the cost basis of the held for sale portfolio, which are primarily driven by charge-offs, are recorded as incurred and recognized in restructuring and other charges in our consolidated statement of income.

Loans and Interest Receivable, Net

Consumer Receivables

We offer credit products to consumers who choose PayPal Credit as their funding source at checkout. As of March 31, 2018 and December 31, 2017, the outstanding balance in our pool of consumer receivables that excludes amounts classified as held for sale and primarily consists of loans and interest receivable due from international consumer accounts was $403 million and $326 million, respectively.

We closely monitor credit quality for our international consumer receivables to manage and evaluate our related exposure to credit risk. Credit risk management begins with initial underwriting and continues through to full repayment of a loan. To assess a consumer who requests a loan, we use, among other indicators, internally developed risk models using detailed information from external sources such as credit bureaus where available and internal historical experience including the consumer’s prior repayment history with PayPal Credit products as well as other measures. We use delinquency status and trends to assist in making new and ongoing credit decisions, to adjust our models, to plan our collection practices and strategies and in our determination of our allowance for international consumer loans and interest receivable.

22

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)


The following tables present the delinquency status of the principal amount of international consumer loans and interest receivable. The amounts shown below are based on the number of days past the billing date to the consumer. Current represents balances that are within 30 days of the billing date. Amounts as of March 31, 2018 and December 31, 2017 represent loans and interest receivable due from consumer accounts excluding amounts classified as held for sale, of which approximately 95.3% and 96.0%, respectively, were current.
March 31, 2018
(In millions)
Current
 
30 - 59 Days Past Due
 
60 - 89 Days Past Due
 
90 - 180 Days Past Due
 
Total Past Due
 
Total
$
384

 
$
10

 
$
3

 
$
6

 
$
19

 
$
403


December 31, 2017
(In millions)
Current
 
30 - 59 Days Past Due
 
60 - 89 Days Past Due
 
90 - 180 Days Past Due
 
Total Past Due
 
Total
$
313

 
$
7

 
$
2

 
$
4

 
$
13

 
$
326


We charge off consumer loan receivable balances in the month in which a customer balance becomes 180 days past the payment due date. Bankrupt accounts are charged off within 60 days after receipt of notification of bankruptcy. Loans receivable past the payment due date continue to accrue interest until they are charged off. We record an allowance for loss against the interest and fees receivable.

The following table summarizes the activity in the allowance for consumer loans and interest receivable for the three months ended March 31, 2018 and 2017:
 
March 31, 2018
 
March 31, 2017(1)
 
Consumer Loans Receivable
Interest Receivable
Total Allowance(2)
  
Consumer Loans Receivable
Interest Receivable
Total Allowance
 
(In millions)
Beginning balance
$
57

$
6

$
63

 
$
265

$
40

$
305

Provisions
23

3

26

 
120

29

149

Charge-offs
(39
)
(3
)
(42
)
 
(104
)
(32
)
(136
)
Recoveries



 
10


10

Ending balance
$
41

$
6

$
47

 
$
291

$
37

$
328

(1) Includes allowance related to loans and interest receivable, held for sale portfolio prior to its designation as held for sale.
(2) Beginning and ending balances include approximately $50 million and $31 million, respectively, of U.S. consumer receivables not designated as held for sale that are fully reserved and are expected to be charged off.

The tables above exclude receivables from other consumer credit products of $57 million and $55 million at March 31, 2018 and December 31, 2017, respectively, and allowances of $9 million and $7 million at March 31, 2018 and December 31, 2017, respectively.

The provision for loan losses relating to our international consumer loans receivable portfolio is recognized in transaction and loan losses. The provision for interest receivable due to interest and fees earned on our international consumer loans receivable portfolio is recognized in net revenues from other value added services as a reduction in revenue.

Merchant Receivables

We offer business financing solutions to certain existing small and medium-sized merchants through our PayPal Working Capital ("PPWC") product and, subsequent to our acquisition of Swift Capital ("Swift") in September 2017, through Swift business loan products. As of March 31, 2018 and December 31, 2017, the total outstanding balance in our pool of merchant loans, advances, interest and fees receivable was $1.2 billion and $1.0 billion, respectively, net of the participation interest sold to an independent chartered financial institution of $28 million and $28 million, respectively.

23

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)


Through our PPWC product, merchants can borrow a certain percentage of their annual payment volume processed by PayPal and are charged a fixed fee for the loan or advance, which targets an annual percentage rate based on the overall credit assessment of the merchant. Loans and advances are repaid through a fixed percentage of the merchant's future payment volume that PayPal processes. Through our Swift business loan products, we provide merchants with access to short-term business financing based on an evaluation of both the applying business as well as the business owner. Swift business loans are collected by periodic payments until the balance has been satisfied.

The interest or fee is fixed at the time the loan or advance is extended and recognized as deferred revenues included in other current liabilities in our condensed consolidated balance sheet. The fixed interest or fee is amortized to net revenues from other value added services based on the amount repaid over the repayment period. We estimate the repayment period based on the merchant's payment processing history with PayPal, where available. For PPWC product, there is a general requirement that at least 10% of the original amount of the loan or advance plus the fixed fee must be repaid every 90 days. We calculate the repayment rate of the merchant's future payment volume so that repayment of the loan or advance and fixed fee is expected to generally occur within 9 to 12 months from the date of the loan or advance. On a monthly basis, we recalculate the repayment period based on the repayment activity on the receivable. As such, actual repayment periods are dependent on actual merchant payment processing volumes. For Swift business loans, we receive fixed periodic payments over the contractual term of the loan which generally ranges from 3 to 12 months. We actively monitor receivables with repayment periods greater than the original expected or contractual repayment period.

We closely monitor credit quality for our merchant loans and advances that we extend or purchase so that we can evaluate, quantify, and manage our credit risk exposure. To assess a merchant seeking a business financing loan or advance, we use, among other indicators, risk models developed internally which utilize information obtained from multiple data sources, both external and internal data to predict the likelihood of timely and satisfactory repayment by the merchant of the loan or advance amount and the related interest or fixed fee. Primary drivers of the models include the merchant's annual payment volume, payment processing history with PayPal and prior repayment history with the PayPal products where available, elements sourced from consumer credit bureau and business credit bureau reports, and other information obtained during the application process. We use delinquency status and trends to assist in making ongoing credit decisions, to adjust our internal models, to plan our collection practices and strategies and in our determination of our allowance for these loans and advances.

Merchant Receivables Delinquency and Allowance

The following tables present our estimate of the principal amount of merchant loans, advances, interest and fees receivable past their original expected or contractual repayment period.
March 31, 2018
(In millions)
Within Original Expected Repayment Period
 
30 - 59 Days Greater
 
60 - 89 Days Greater
 
90 - 180 Days Greater
 
180+ Days
 
Total Past Original Expected Repayment Period
 
Total
$
1,105

 
$
44

 
$
28

 
$
40

 
$
10

 
$
122

 
$
1,227

December 31, 2017
(In millions)
Within Original Expected Repayment Period
 
30 - 59 Days Greater
 
60 - 89 Days Greater
 
90 - 180 Days Greater
 
180+ Days
 
Total Past Original Expected Repayment Period
 
Total
$
884

 
$
44

 
$
28

 
$
43

 
$
13

 
$
128

 
$
1,012



24

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

The following table summarizes the activity in the allowance for merchant loans and advances, interest and fees receivable, for the three months ended March 31, 2018 and 2017:
 
March 31, 2018
 
March 31, 2017
 
Merchant Loans and Advances
Interest and Fees Receivable
Total Allowance
  
Merchant Loans and Advances
Interest and Fees Receivable
Total Allowance
 
(In millions)
Beginning balance
$
52

$
7

$
59

 
$
28

$
3

$
31

Provisions
39

6

45

 
9

2

11

Charge-offs
(21
)
(2
)
(23
)
 
(10
)
(2
)
(12
)
Recoveries
2


2

 
2


2

Ending balance
$
72

$
11

$
83

 
$
29

$
3

$
32


For merchant loans and advances, the determination of delinquency, from current to 180 days past due, is based on the current expected or contractual repayment period of the loan or advance and fixed interest or fee payment as compared to the original expected or contractual repayment period. For Swift business loans, we charge off the receivable when the repayments are 180 days past due. For PPWC product, we charge off the receivable when the repayments are 180 days past our expectation of repayments and the merchant has not made a payment in the last 60 days or when the repayments are 360 days past due regardless of whether or not the merchant has made a payment within the last 60 days. Bankrupt accounts are charged off within 60 days of receiving notification of bankruptcy. The provision for loan losses is recognized in transaction and loan losses, and the provisions for interest and fees receivable is recognized in deferred revenues included in other current liabilities in our condensed consolidated balance sheet. Charge-offs that are recovered are recorded as a reduction to our allowance for loans and interest receivable.

Note 12—Notes Payable

In the fourth quarter of 2017, we entered into a credit agreement ("2017 Credit Agreement") that provides for an unsecured $3.0 billion, 364-day delayed-draw term loan credit facility, which is available in up to three borrowings. Borrowings and other amounts payable under the 2017 Credit Agreement are guaranteed by PayPal, Inc. Subject to specified conditions, we may designate one or more of our subsidiaries as additional borrowers under the 2017 Credit Agreement provided that we and PayPal, Inc. guarantee all borrowings and other obligations of any such subsidiaries under the 2017 Credit Agreement. As of March 31, 2018, no subsidiaries were designated as additional borrowers. Funds borrowed under the 2017 Credit Agreement may be used for capital allocation and other general corporate purposes. During the three months ended March 31, 2018, we effected two drawdowns aggregating to $2.0 billion under the 2017 Credit Agreement. As of March 31, 2018, $3.0 billion was outstanding under the 2017 Credit Agreement at a weighted average interest rate of 2.88%. Accordingly, at March 31, 2018, no borrowing capacity was available under the 2017 Credit Agreement. The total interest expense and fees we recorded related to this credit facility was approximately $15 million for the three months ended March 31, 2018. On April 5, 2018, we repaid $1.0 billion of the borrowings outstanding under the 2017 Credit Agreement. No remaining borrowing capacity is available under this agreement.

We maintain uncommitted credit facilities in various regions throughout the world, aggregating to approximately $350 million of borrowing capacity. Interest rate terms for these facilities vary by region and reflect prevailing market rates for companies with strong credit ratings. As of March 31, 2018, no amounts were outstanding under those facilities, and therefore, approximately $350 million of borrowing capacity was available, subject to customary conditions to borrowing.

In the third quarter of 2015, we entered into a credit agreement ("2015 Credit Agreement") that provides for an unsecured $2.0 billion, five-year revolving credit facility that includes a $150 million letter of credit sub-facility and a $150 million swingline sub-facility, with available borrowings under the revolving credit facility reduced by the amount of any letters of credit and swingline borrowings outstanding. Borrowings and other amounts payable under the 2015 Credit Agreement are guaranteed by PayPal, Inc. We may also, subject to the agreement of the applicable lenders, increase the commitments under the revolving credit facility by up to $500 million. Loans under the 2015 Credit Agreement will bear interest at either (i) London Interbank Offered Rate ("LIBOR") plus a margin (based on our public debt ratings) ranging from 1.00 percent to 1.625 percent or (ii) a formula based on the agent bank’s prime rate, the federal funds effective rate or LIBOR plus a margin (based on our public debt ratings) ranging from zero percent to 0.625 percent. Subject to specified conditions, we may designate one or more of our subsidiaries as additional borrowers under the 2015 Credit Agreement provided that we and PayPal, Inc. guarantee all borrowings and other obligations of any such

25

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

subsidiaries under the 2015 Credit Agreement. As of March 31, 2018, no subsidiaries were designated as additional borrowers. Funds borrowed under the 2015 Credit Agreement may be used for working capital, capital expenditures, acquisitions and other general corporate purposes. As of March 31, 2018, no borrowings or letters of credit were outstanding under the 2015 Credit Agreement. Accordingly, at March 31, 2018, $2.0 billion of borrowing capacity was available for the purposes permitted by the 2015 Credit Agreement, subject to customary conditions to borrowing.

Note 13—Commitments and Contingencies

Commitments

As of March 31, 2018 and December 31, 2017, approximately $27.3 billion and $26.4 billion, respectively, of unused credit was available to PayPal Credit account holders. While this amount represents the total unused credit available, we have not experienced, and do not anticipate, that all of our PayPal Credit account holders will access their entire available credit at any given point in time. In addition, the individual lines of credit that make up this unused credit are subject to periodic review and termination by the chartered financial institution that is the issuer of PayPal Credit products based on, among other things, account usage and customer creditworthiness. When a consumer funds a purchase in the U.S. using a PayPal Credit product issued by a chartered financial institution, the chartered financial institution extends credit to the consumer, funds the extension of credit at the point of sale and advances funds to the merchant. We subsequently purchase the receivables related to the consumer loans extended by the chartered financial institution and, as a result of such purchase, bear the risk of loss in the event of loan defaults. Although the chartered financial institution continues to own each customer account, we own the related receivable (excluding participation interests sold) and are responsible for all servicing functions related to the account.

Litigation and Regulatory Matters

Overview

We are involved in legal and regulatory proceedings on an ongoing basis. Many of these proceedings are in early stages, and may seek an indeterminate amount of damages. If we believe that a loss arising from such matters is probable and can be reasonably estimated, we accrue the estimated liability in our financial statements. If only a range of estimated losses can be determined, we accrue an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, we accrue the low end of the range. For those proceedings in which an unfavorable outcome is reasonably possible but not probable, we have disclosed an estimate of the reasonably possible loss or range of losses or we have concluded that an estimate of the reasonably possible loss or range of losses arising directly from the proceeding (i.e., monetary damages or amounts paid in judgment or settlement) are not material. If we cannot estimate the probable or reasonably possible loss or range of losses arising from a legal proceeding, we have disclosed that fact. In assessing the materiality of a legal proceeding, we evaluate, among other factors, the amount of monetary damages claimed, as well as the potential impact of non-monetary remedies sought by plaintiffs (e.g., injunctive relief) that may require us to change our business practices in a manner that could have a material adverse impact on our business. With respect to the matters disclosed in this Note 13, we are unable to estimate the possible loss or range of losses that could potentially result from the application of such non-monetary remedies.

Amounts accrued for legal and regulatory proceedings for which we believe a loss is probable were not material for the three months ended March 31, 2018. Except as otherwise noted for the proceedings described in this Note 13, we have concluded, based on currently available information, that reasonably possible losses arising directly from the proceedings (i.e., monetary damages or amounts paid in judgment or settlement) in excess of our recorded accruals are also not material. However, legal and regulatory proceedings are inherently unpredictable and subject to significant uncertainties. If one or more matters were resolved against us in a reporting period for amounts in excess of management’s expectations, the impact on our operating results or financial condition for that reporting period could be material.

Regulatory Proceedings

We are required to comply with U.S. economic and trade sanctions administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”). We have self-reported to OFAC certain transactions that were inadvertently processed but subsequently identified as possible violations of U.S. economic and trade sanctions. In March 2015, we reached a settlement with

26

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

OFAC regarding possible violations arising from our sanctions compliance practices between 2009 and 2013, prior to the implementation of our real-time transaction scanning program. Subsequently, we have self-reported additional transactions as possible violations, and we have received new subpoenas from OFAC seeking additional information about certain of these transactions. Such self-reported transactions could result in claims or actions against us, including litigation, injunctions, damage awards, fines or penalties, or require us to change our business practices in a manner that could result in a material loss, require significant management time, result in the diversion of significant operational resources or otherwise harm our business.

On March 28, 2016, we received a Civil Investigative Demand (“CID”) from the Federal Trade Commission (“FTC”) as part of its investigation to determine whether we, through our Venmo service, have been or are engaged in deceptive or unfair practices in violation of the Federal Trade Commission Act. The CID requested the production of documents and answers to written questions related to our Venmo service. We have cooperated with the FTC in connection with the CID. On February 27, 2018, we entered into a Consent Order with the FTC in which we settled potential allegations arising from our Venmo services between 2013 and 2017. The Consent Order does not contain a monetary penalty, but requires PayPal to make various changes to Venmo’s disclosures and business practices. The Consent Order was subject to public comment through March 29, 2018 and is subject to final approval by the FTC. As required by the Consent Order, we will cooperate with the FTC’s requirements and work to ensure compliance with the Consent Order. Any failure to comply with the Consent Order may increase the possibility of additional adverse consequences, including litigation, additional regulatory actions, injunctions, or monetary penalties, or require further changes to our business practices, significant management time, or the diversion of significant operational resources, all of which could result in a material loss or otherwise harm our business.

Legal Proceedings

On January 12, 2017, a putative shareholder derivative action captioned Silverman v. Schulman, et al., Case No. 5:17-cv-00162 (the “California Derivative Case”) was filed in the U.S. District Court for the Northern District of California (the "Court"). On March 24, 2017, a second derivative action substantially similar to the California Derivative Case captioned Seeman v. Schulman, et al., Case No. 1:17-cv-00318-UNA, was filed in the U.S. District Court for the District of Delaware (the “Delaware Derivative Case”). On April 19, 2017, the Delaware court in the Delaware Derivative Case issued an order adopting a stipulation filed by the parties transferring the Delaware Derivative Case to the Court so that the Delaware Derivative Case could be consolidated with the pending California Derivative Case. On April 27 and 28, 2017, two additional shareholder derivative lawsuits substantially similar to the California Derivative Case and Delaware Derivative Case were filed in the Court. These cases are captioned Sims v. Schulman, et al., Case No. 1:17-cv-02428, and Liss v. Schulman, et al., Case No. 1:17-cv-02446-NC (together with the California Derivative Case and the Delaware Derivative Case, the “Derivative Cases”). The Derivative Cases are purportedly brought on behalf of the Company and assert claims relating to our disclosure in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2016, that on March 28, 2016, we received a CID from the FTC as part of its investigation to determine whether we, through our Venmo service, have been or are engaged in deceptive or unfair practices in violation of the Federal Trade Commission Act. The Derivative Cases allege that the Company’s Chief Executive Officer, Chief Financial Officer, former interim Chief Financial Officer, and certain members of its Board of Directors breached their fiduciary duties to the Company, violated Section 14(a) of the Exchange Act, and were unjustly enriched by, among other things, causing or permitting the Company to issue materially false and misleading statements or omissions regarding the Company’s compliance with applicable laws and regulations with respect to its Venmo service, and/or by permitting or causing the Company to engage in unfair trade practices through its Venmo service. The Derivative Cases seek, among other things, to recover unspecified compensatory damages on behalf of the Company arising out of the individual defendants’ alleged wrongful conduct. Although plaintiffs in the Derivative Cases do not seek relief against the Company, we have certain indemnification obligations to the individual defendants. On June 30, 2017, the Court issued an order approving a stipulation filed by the parties in the Derivative Cases that consolidates these cases and appoints co-lead plaintiffs’ counsel for the consolidated case, captioned In re PayPal Holdings, Inc. Shareholder Derivative Litigation, Lead Case No. 5:17-cv-00162-RS (the “Consolidated Derivative Case”). The Court’s order states that it applies to each purported derivative action that is subsequently filed in, removed to, or transferred to the Court, arising out of the same or substantially the same transactions or events as the Derivative Cases. On July 31, 2017, plaintiffs’ counsel designated the complaint filed in the Liss action as the operative complaint for the Consolidated Derivative Case. On October 5, 2017, another putative shareholder derivative suit was filed in the Court captioned Iron Workers Local No. 25 Pension Fund v. John J. Donahoe, et al., Case No. 5:17-cv-05741-NC, that makes similar allegations and advances similar claims against the same defendants as those at issue in the Consolidated Derivative Case. Pursuant to the Court’s consolidation order, this shareholder derivative suit is part of the Consolidated Derivative Case. On September 28, 2017, we filed a motion to dismiss the operative complaint on grounds that plaintiffs lack standing to pursue claims on behalf of the Company because they did not make a pre-suit demand on the Company’s Board of Directors prior to filing the Derivative Cases and failed to establish that making such a demand would have been futile. On January 18, 2018, the Court granted our motion to dismiss with leave to amend and gave plaintiffs 30 days from that date to file an amended

27

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

complaint. On February 16, 2018, plaintiffs in the Consolidated Derivative Case filed an amended complaint. Plaintiffs’ counsel also sent a letter dated February 15, 2018 to counsel for the defendants that purports to be a litigation demand on the Company's Board of Directors. In April 2018, defendants in the Consolidated Derivative Case entered into a tolling agreement that tolls the running of any statute of limitations applicable to the claims at issue in the lawsuit and the litigation demand plaintiffs sent to the Company's Board of Directors until 30 days from the time the Board issues a final response to the demand or three years elapse from the date of the tolling agreement, whichever comes first. Pursuant to the agreement, plaintiffs in the Consolidated Derivative Case have agreed to voluntarily dismiss the lawsuit without prejudice for now.

We have received subpoenas from the U.S. Department of Justice (“DOJ”) seeking the production of certain information related to our historical anti-money laundering program. We are cooperating with the DOJ in providing information in response to the subpoenas. We are unable to predict the outcome of the government's investigation.
In November 2017, we announced that we had suspended the operations of TIO Networks (“TIO”) as part of an ongoing investigation of security vulnerabilities of the TIO platform. On December 1, 2017 we announced that we had identified evidence of unauthorized access to TIO’s network, including locations that stored personal information of some of TIO’s customers and customers of TIO billers and the potential compromise of personally identifiable information for approximately 1.6 million customers. We have received a number of governmental inquiries, including from state attorneys general, and we may be subject to additional governmental inquiries and investigations in the future. In addition, on December 6, 2017, a putative class action lawsuit captioned Sgarlata v. PayPal Holdings, Inc., et al., Case No. 3:17-cv-06956 was filed in the Court against the Company, its Chief Executive Officer, its Chief Financial Officer and Hamed Shahbazi, the former chief executive officer of TIO (the “Defendants”) alleging violations of federal securities laws. Specifically, the lawsuit alleges that Defendants made false or misleading statements or failed to disclose that TIO’s data security program was inadequate to safeguard the personally identifiable information of its users, those vulnerabilities threatened continued operation of TIO’s platform, the Company’s revenues derived from TIO services were thus unsustainable, and consequently, the Company overstated the benefits of the TIO acquisition, and, as a result, the Company’s public statements were materially false and misleading at all relevant times. The plaintiff who initiated the lawsuit sought to represent a class of shareholders who acquired shares of the Company’s common stock between February 14, 2017 through December 1, 2017 and sought damages and attorneys’ fees, among other relief. On March 16, 2018, the Court appointed two new plaintiffs, not the original plaintiff who filed the case, as interim co-lead plaintiffs in the case and appointed two law firms as interim co-lead counsel. Pursuant to stipulations entered into by the parties to the case, the Court issued orders on March 30 and April 6, 2018 providing for the publication by interim co-lead counsel of an amended notice under the Private Securities Litigation Reform Act given the anticipated amendment of the complaint to include an amended class definition that includes individuals who purchased options to purchase our common stock between February 14, 2017 through December 1, 2017, the filing of an amended complaint by co-lead plaintiffs within seventy-five days of the March 30, 2018 order, and a briefing schedule on the Defendants’ anticipated motions to dismiss the amended complaint. We may be subject to additional litigation relating to TIO’s data security platform or the suspension of TIO’s operations in the future.

General Matters
Other third parties have from time to time claimed, and others may claim in the future, that we have infringed their intellectual property rights. We are subject to patent disputes, and expect that we will increasingly be subject to additional patent infringement claims involving various aspects of our business as our products and services continue to expand in scope and complexity. Such claims may be brought directly or indirectly against our companies and/or against our customers (who may be entitled to contractual indemnification under their contracts with us), and we are subject to increased exposure to such claims as a result of our acquisitions, particularly in cases where we are entering into new lines of business in connection with such acquisitions. We have in the past been forced to litigate such claims, and we believe that additional lawsuits alleging such claims will be filed against us. Intellectual property claims, whether meritorious or not, are time consuming and costly to defend and resolve, could require expensive changes in our methods of doing business or could require us to enter into costly royalty or licensing agreements on unfavorable terms or make substantial payments to settle claims or to satisfy damages awarded by courts.
From time to time, we are involved in other disputes or regulatory inquiries that arise in the ordinary course of business, including suits by our customers (individually or as class actions) alleging, among other things, improper disclosure of our prices, rules or policies, that our practices, prices, rules, policies or customer/user agreements violate applicable law or that we have acted unfairly and/or not acted in conformity with such prices, rules, policies or agreements. In addition to these types of disputes and regulatory inquiries, our operations are also subject to regulatory and/or legal review and/or challenges that tend to reflect the increasing global regulatory focus to which the payments industry is subject and, when taken as a whole with other regulatory and legislative action, such actions could result in the imposition of costly new compliance burdens on our business and customers and may lead

28

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

to increased costs and decreased transaction volume and revenue. Further, the number and significance of these disputes and inquiries are increasing as we have grown larger, our business has expanded in scope (both in terms of the range of products and services that we offer and our geographical operations) and our products and services have increased in complexity. Any claims or regulatory actions against us, whether meritorious or not, could be time consuming, result in costly litigation, settlement payments, damage awards (including statutory damages for certain causes of action in certain jurisdictions), fines, penalties, injunctive relief or increased costs of doing business through adverse judgment or settlement, require us to change our business practices in expensive ways, require significant amounts of management time, result in the diversion of significant operational resources or otherwise harm our business.

Indemnification Provisions
We entered into a separation and distribution agreement, a tax matters agreement, an operating agreement and various other agreements with eBay to govern the separation and relationship of the two companies going forward. These agreements provide for specific indemnity and liability obligations and could lead to disputes between us and eBay, which may be significant. In addition, the indemnity rights we have against eBay under the agreements may not be sufficient to protect us, and our indemnity obligations to eBay may be significant.
In the ordinary course of business, we include limited indemnification provisions in certain of our agreements with parties with whom we have commercial relationships, including our standard marketing, promotions, and application-programming-interface license (API) agreements. Under these contracts, we generally indemnify, hold harmless, and agree to reimburse the indemnified party for losses suffered or incurred by the indemnified party in connection with claims by any third party with respect to our domain names, trademarks, logos, and other branding elements to the extent that such marks are related to the subject agreement. In a limited number of agreements, we have provided an indemnity for other types of third-party claims, which are indemnities mainly related to intellectual property rights. We have also provided an indemnity to our payments processors in the event of certain third-party claims or card association fines against the processor arising out of conduct by us or our customers. It is not possible to determine the maximum potential loss under these indemnification provisions due to our limited history of prior indemnification claims and the unique facts and circumstances involved in each particular situation. To date, no significant costs have been incurred, either individually or collectively, in connection with our indemnification provisions.

Off-Balance Sheet Arrangements

As of March 31, 2018 and December 31, 2017, we had no off-balance sheet arrangements that have, or are reasonably likely to have, a current or future material effect on our consolidated financial condition, results of operations, liquidity, capital expenditures or capital resources.

Protection Programs

We provide merchants and consumers with protection programs on substantially all transactions completed through our Payments Platform, except for transactions using our gateway products. These programs protect both merchants and consumers from loss primarily due to fraud and counterparty performance. Our Buyer Protection Program provides protection to consumers for qualifying purchases by reimbursing the consumer for the full amount of the purchase if a purchased item does not arrive or does not match the seller’s description. Our Seller Protection Programs provide protection to merchants against claims that a transaction was not authorized by the buyer or claims that an item was not received by covering the seller for the full amount of the payment on eligible sales.

The maximum potential exposure under our protection programs is estimated to be the portion of total eligible transaction volume (TPV) for which buyer or seller protection claims may be raised under our existing user agreements. Since eligible transactions are typically completed in a period significantly shorter than the period under which disputes may be opened, and based on our historical losses to date, we do not believe that the maximum potential exposure is representative of our actual potential exposure. The actual amount of potential exposure cannot be quantified as we are unable to determine total eligible transactions where performance by a merchant or customer is incomplete or completed transactions that may result in a claim under our protection programs. We record a liability with respect to losses under these protection programs when they are probable and the amount can be reasonably estimated.


29

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

The following table provides management's estimate of the maximum potential exposure related to our protection programs as of March 31, 2018 and December 31, 2017:
 
March 31, 2018
  
December 31, 2017
 
(In millions)
Maximum potential exposure
$
173,764

 
$
165,207


The following table provides the amount of allowance for transaction losses and negative customer balances related to our protection programs as of March 31, 2018 and December 31, 2017:
 
March 31, 2018
  
December 31, 2017
 
(In millions)
Allowance for transaction losses and negative customer balances
$
283

 
$
266


Note 14Related Party Transactions

As of March 31, 2018 and December 31, 2017, there were no material amounts payable to or amounts receivable from related parties. For all periods presented, there were no material related party transactions.

Note 15Stock Repurchase Programs

In April 2017, our Board of Directors authorized a stock repurchase program that provides for the repurchase of up to $5 billion of our common stock, with no expiration from the date of authorization. The stock repurchase program is intended to offset the impact of dilution from our equity compensation programs and, subject to market conditions and other factors, may also be used to make opportunistic repurchases of our common stock to reduce outstanding share count. Any share repurchases under our stock repurchase program may be made through open market transactions, block trades, privately negotiated transactions including accelerated share repurchase agreements or other means at times and in such amounts as management deems appropriate and will be funded from our working capital or other financing alternatives. However, any stock repurchases are subject to market conditions and other uncertainties and we cannot predict if or when any stock repurchases will be made. Moreover, we may terminate our stock repurchase program at any time without notice.

In February 2018, we entered into an accelerated share repurchase ("ASR") agreement with an unrelated third party financial institution to repurchase shares of our common stock. Under the terms of the ASR agreement, we made an upfront payment of approximately $1.0 billion to the third party financial institution and received approximately 12.8 million shares of our common stock during the term of the transaction, which ended in March 2018. The total number of shares of our common stock repurchased was based on the volume-weighted average share price of our common stock during the term of the transaction, less a discount and subject to adjustments pursuant to the terms of the applicable ASR agreement.

We recorded the initial payment of $1.0 billion as a reduction to stockholders' equity on our condensed consolidated balance sheet. All common stock received was recorded as treasury stock and the forward contract indexed to our own common stock met all applicable criteria for equity classification.


30

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

The stock repurchase activity under the April 2017 stock repurchase program during the three months ended March 31, 2018 is summarized as follows:
 
Shares Repurchased
 
Average Price
Paid per Share
(1) (2)
 
Cash Paid for Shares Repurchased
 
Remaining Amount Authorized
 
(In millions, except per share amounts)
Balance as of January 1, 2018
 
 
 
 
 
 
$
4,999

Repurchases of shares of common stock in the open market
10.8

 
$
76.82

 
825

 
4,174

Repurchases of shares of common stock under the ASR agreement
12.8

 
$
78.03

 
1,000

 
3,174

Balance as of March 31, 2018
23.6

 
 
 
$
1,825

 
$
3,174

(1)Average price paid per share for open market purchases includes broker commissions.
(2) Average price paid per share under the ASR agreement represents the volume-weighted average share price, less a discount and adjustments pursuant to the terms of the agreement. Treasury stock recorded for repurchases under the ASR agreement amounts to $985 million.

These repurchased shares of common stock were recorded as treasury stock for purposes of calculating earnings per share, and were accounted for under the cost method. No repurchased shares of common stock have been retired.

Note 16Stock-Based Plans

Stock Options

As of March 31, 20181.9 million options to purchase shares of common stock were outstanding. No new options were granted in the three months ended March 31, 2018.

Restricted Stock Units (RSUs) and Performance-Based Restricted Stock Units (PBRSUs)

The following table summarizes the RSU and PBRSU activity under our equity incentive plans for the three months ended March 31, 2018:
 
Units 
 
(In thousands)
Outstanding at January 1, 2018
33,875

Awarded(1)
12,103

Vested(1)
(9,663
)
Forfeited
(484
)
Outstanding at March 31, 2018
35,831

Expected to vest
30,871

(1) Includes approximately 2.1 million additional PBRSUs issued due to company performance in connection with the Company's 2017 annual incentive plan.

The weighted average grant-date fair value of RSUs and PBRSUs granted during the three months ended March 31, 2018 was $78.58 per share.

In the three months ended March 31, 2018, the Company granted RSUs that vest in equal annual installments over a three-year period, 1.5 million PBRSUs with a one-year performance period (fiscal 2018) and cliff vesting following the completion of the performance period in February 2019 (one year from the annual incentive award cycle grant date) and 0.7 million PBRSUs with a three-year performance period. Over the respective performance period, the number of PBRSUs that may be issued and the related stock-based compensation expense that is recognized is adjusted upward or downward based upon the probability of achieving the approved performance targets against the performance metrics. Depending on the probability of achieving the pre-established performance targets, the PBRSUs issued could range from 0% to 200% of the target amount.

31

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)


Stock-based Compensation Expense

We record stock-based compensation expense for our equity incentive plans in accordance with the provisions of the authoritative accounting guidance, which requires the measurement and recognition of compensation expense based on estimated fair values.

The impact on our results of operations of recording stock-based compensation expense under our equity incentive plans for the three months ended March 31, 2018 and 2017 was as follows:
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions)
Customer support and operations
$
38

 
$
30

Sales and marketing
44

 
28

Product development
64

 
45

General and administrative
59

 
42

Depreciation and amortization
4

 
2

Total stock-based compensation expense
$
209

 
$
147

Capitalized as part of internal use software and website development costs
$
7

 
$
3


Note 17Income Taxes

Our effective tax rate for the three months ended March 31, 2018 and 2017 was 7% and 12%, respectively. The difference between our effective tax rate for the three months ended March 31, 2018 and the U.S. federal statutory rate of 21% was primarily the result of foreign income taxed at different rates and discrete tax benefits related to stock-based compensation. The difference between our effective tax rate for the three months ended March 31, 2017 and the U.S. federal statutory rate of 35% was primarily the result of foreign income taxed at different rates.

During the three months ended March 31, 2018, we recognized tax expense adjustments of $3 million to the provisional amounts recorded at December 31, 2017 for the enactment-date effects of the Tax Act. All amounts recorded related to the enactment-date effects of the Tax Act as of March 31, 2018 are considered provisional estimates because we have not completed our accounting for certain elements of the Tax Act, including whether taxes due on future U.S. inclusions related to Global Intangible Low Taxed Income ("GILTI") are recorded as a current-period expense when incurred or whether such amounts should be factored into our measurement of its deferred taxes. As a result, for the period ended March 31, 2018, we have treated GILTI as a period cost. We will continue to refine our calculations as additional analysis is completed. Our provisional estimates may be affected as we gain a more thorough understanding of the Tax Act and any such changes to those estimates could be material to income tax expense.


Note 18Restructuring

During the first quarter of 2018 and 2017, management approved strategic reductions of the existing global workforce, which resulted in restructuring charges of $25 million and $40 million, respectively. The reduction approved in the first quarter of 2018 also includes restructuring charges related to the decision to wind down TIO's operations. The reduction and timing of cash payments associated with the 2018 restructuring are expected to be substantially completed by the end of 2018. We incurred employee and severance benefits expenses under the 2017 strategic reduction, which was substantially completed by the end of the year.


32

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

The following table summarizes the restructuring reserve activity during the three months ended March 31, 2018:
 
Employee Severance and Benefits
 
(In millions)
Accrued liability as of January 1, 2018
$
2

Charges
25

Payments
(2
)
Accrued liability as of March 31, 2018
$
25



Note 19Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the three months ended March 31, 2018:
 
Unrealized Gains (Losses) on Cash Flow Hedges
 
Unrealized Gains (Losses) on Investments
 
Foreign
Currency
Translation
 
Estimated tax benefit
 
Total
 
(In millions)
Beginning balance
$
(111
)
 
$
(12
)
 
$
(25
)
 
$
6

 
$
(142
)
Other comprehensive income (loss) before reclassifications
(62
)
 
(16
)
 
2

 
4

 
(72
)
Less: Amount of gains (losses) reclassified from accumulated other comprehensive income
(44
)
 
(1
)
 

 

 
(45
)
Net current period other comprehensive income (loss)
(18
)
 
(15
)
 
2

 
4

 
(27
)
Ending balance
$
(129
)
 
$
(27
)
 
$
(23
)
 
$
10

 
$
(169
)

The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the three months ended March 31, 2017:
 
Unrealized Gains (Losses) on Cash Flow Hedges
 
Unrealized Gains (Losses) on Investments
 
Foreign
Currency
Translation
 
Estimated tax benefit
 
Total
 
(In millions)
Beginning balance
$
131

 
$
(5
)
 
$
(68
)
 
$
1

 
$
59

Other comprehensive income (loss) before reclassifications
(32
)
 

 
13

 
1

 
(18
)
Less: Amount of gains (losses) reclassified from accumulated other comprehensive income
40

 
(1
)
 

 

 
39

Net current period other comprehensive income (loss)
(72
)
 
1

 
13

 
1

 
(57
)
Ending balance
$
59

 
$
(4
)
 
$
(55
)
 
$
2

 
$
2


33

PayPal Holdings, Inc.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

The following table provides details about reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2018 and 2017:
Details about Accumulated Other Comprehensive
Income (Loss) Components
 
Amount of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss)
 
Affected Line Item in the Statement of Income
 
 
Three Months Ended March 31,
 
 
 
 
2018
 
2017
 
 
 
 
(In millions)
 
 
Gains (losses) on cash flow hedges-foreign exchange contracts
 
$
(44
)
 
$
40

 
Net revenues
Unrealized gains (losses) on investments
 
(1
)
 
(1
)
 
Other income (expense), net
 
 
$
(45
)
 
$
39

 
Income before income taxes
 
 

 

 
Income tax expense
Total reclassifications for the period
 
$
(45
)
 
$
39

 
Net income








34


Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements that involve expectations, plans or intentions (such as those relating to future business, future results of operations or financial condition, new or planned features or services, or management strategies). These forward-looking statements can be identified by words such as “may,” “will,” “would,” “should,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan” and other similar expressions. These forward-looking statements involve risks and uncertainties that could cause our actual results and financial condition to differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties include, among others, those discussed in Part I, Item 1A, Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2017 (the "2017 Form 10-K"), as supplemented and, to the extent inconsistent, superseded (if applicable) by some of the information in the risk factors set forth below in Part II, Item 1A, Risk Factors, of this Form 10-Q, as well as in our unaudited condensed consolidated financial statements, related notes, and the other information appearing elsewhere in this report and our other filings with the Securities and Exchange Commission, or the SEC. We do not intend, and undertake no obligation, to update any of our forward-looking statements after the date of this report to reflect actual results or future events or circumstances. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

The following Management's Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction with the unaudited condensed consolidated financial statements and the related notes that appear elsewhere in this report. Unless otherwise expressly stated or the context otherwise requires, references to “we,” “our,” “us,” “the Company” and “PayPal” refer to PayPal Holdings, Inc. and its consolidated subsidiaries.

Business Environment

We are a leading technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Our vision is to democratize financial services, as we believe that managing and moving money is a right for all people, not just the affluent. Our goal is to increase our relevance for consumers and merchants to manage and move their money anywhere in the world, anytime, on any platform and using any device. We also facilitate person-to-person payments through our PayPal, Venmo and Xoom products. Our combined payment solutions, including our PayPal, PayPal Credit, Braintree, Venmo, and Xoom products, compose our proprietary Payments Platform.

We operate globally and in a rapidly evolving regulatory environment characterized by a heightened regulatory focus on all aspects of the payments industry. That focus continues to become even more heightened as regulators on a global basis focus on such important issues as countering terrorist financing, anti-money laundering, privacy and consumer protection. Some of the laws and regulations to which we are subject were enacted recently, and the laws and regulations applicable to us, including those enacted prior to the advent of digital and mobile payments, are continuing to evolve through legislative and regulatory action and judicial interpretation. Non-compliance with laws and regulations, increased penalties and enforcement actions related to non-compliance, changes in laws and regulations or their interpretation, and the enactment of new laws and regulations applicable to us could have a material adverse impact on our business, results of operations and financial condition.

The United Kingdom ("U.K.") held a referendum in June 2016 in which a majority of voters approved an exit from the European Union ("EU") (“Brexit”). In March 2017, the U.K. government gave formal notice of its intention to leave the EU and started the process of negotiating the future terms of the U.K.'s relationship with the EU. Brexit could adversely affect U.K., regional (including European) and worldwide economic and market conditions and could contribute to instability in global financial and foreign exchange markets, including volatility in the value of the British Pound and Euro.

We have foreign exchange exposure management programs designed to help reduce the impact from foreign currency rate movements. For both the three months ended March 31, 2018 and 2017, net revenues generated from our U.K. operations constituted 11% of total net revenues. During each of these periods, net revenues generated from the EU (excluding the U.K.) constituted less than 20% of total net revenues. For additional information on how Brexit could affect our business, see Part I, Item 1A, Risk Factors in our 2017 Form 10-K, as supplemented and, to the extent inconsistent, superseded below in Part II, Item 1A, Risk Factors in this Form 10-Q.

Information security risks for global payments and technology companies have significantly increased in recent years. Although we are not aware of any material impacts relating to cyberattacks or other information security breaches on our Payments Platform, we are not immune to these risks and there can be no assurance that we will not suffer such losses in the future.

35


Overview of Results of Operations

The following table provides a summary of our condensed consolidated GAAP financial measures for the three months ended March 31, 2018 and 2017:
 
Three Months Ended March 31,
 
Percent Increase/(Decrease)
 
2018
 
2017
 
 
(In millions, except percentages and per share data)
Net revenues
$
3,685

 
$
2,975

 
24
 %
Operating expenses
3,151

 
2,544

 
24
 %
Operating income
$
534

 
$
431

 
24
 %
Operating margin
14
%
 
14
%
 
**

Income tax expense
$
37

 
$
54

 
(31
)%
Effective tax rate
7
%
 
12
%
 
**

Net income
$
511

 
$
384

 
33
 %
Net income per diluted share
$
0.42

 
$
0.32

 
33
 %
Net cash provided by operating activities
$
(349
)
 
$
751

 
(146
)%
All amounts in tables are rounded to the nearest million, except as otherwise noted. As a result, certain amounts may not recalculate using the rounded amounts provided.
** Not meaningful

Three Months Ended March 31, 2018 and 2017

Net revenues increased $710 million, or 24%, in the three months ended March 31, 2018 compared to the same period of the prior year driven primarily by growth in TPV (as defined below under "Net revenues") of 32% compared to the same period of the prior year. Net revenues from our recent acquisition of Swift contributed one percentage point to the growth rate.

Total operating expenses increased $607 million, or 24%, in the three months ended March 31, 2018 compared to the same period of the prior year due primarily to increases in transaction expense, restructuring and other, general and administrative, sales and marketing and product development expenses. Operating expenses related to our recent acquisitions of TIO and Swift collectively contributed three percentage points to the growth rate in total operating expenses. In March 2018, our management decided to wind down TIO's operations.

Operating income increased $103 million, or 24%, in the three months ended March 31, 2018 compared to the same period of the prior year due to the increase in net revenues and positive impact of held for sale accounting for our U.S. consumer credit portfolio offset by the growth in operating expenses and impact of recent acquisitions. Our operating margin was 14% in both the three months ended March 31, 2018 and 2017. Operating margin for the three months ended March 31, 2018 was negatively impacted by growth in transaction expense which increased 29% in the three months ended March 31, 2018 compared to net revenues, which increased 24% in the same period. These impacts were offset by operating efficiencies in our business.

Net income increased by $127 million, or 33%, in the three months ended March 31, 2018 compared to the same period of the prior year due primarily to the increase in operating income of $103 million and a decrease in income tax expense of $17 million, which was driven by discrete tax benefits related to stock-based compensation partially offset by tax expense associated with the increase in operating income. For the three months ended March 31, 2018, our diluted net income per share was $0.42, a $0.10 increase compared to the same period of the prior year.



36



Non-GAAP Financial Measures

The following table provides a summary of our condensed consolidated non-GAAP financial measures for the three months ended March 31, 2018 and 2017:
 
Three Months Ended March 31,
 
Percent Increase/(Decrease)
 
2018
 
2017
 
 
(In millions, except percentages and per share data)
Non-GAAP operating income
$
829

 
$
643

 
29
 %
Non-GAAP operating margin
22
%
 
22
%
 
**

Non-GAAP income tax expense
$
151

 
$
116

 
30
 %
Non-GAAP net income
$
692

 
$
534

 
30
 %
Non-GAAP net income per diluted share
$
0.57

 
$
0.44

 
29
 %
Free cash flow
$
(527
)
 
$
603

 
(187
)%
All amounts in tables are rounded to the nearest millions, except as otherwise noted. As a result, certain amounts may not recalculate using the rounded amounts provided.
** Not meaningful

Non-GAAP operating income, non-GAAP operating margin, non-GAAP income tax expense, non-GAAP net income, non-GAAP net income per diluted share and free cash flow are not financial measures prepared in accordance with the U.S. GAAP. For information on how we compute these non-GAAP financial measures and a reconciliation to the most directly comparable financial measures prepared in accordance with GAAP, please refer to “Non-GAAP Financial Information” below.

Impact of Foreign Currency Exchange Rates
We have significant operations internationally that are denominated in foreign currencies, primarily the British Pound, Euro, Australian Dollar and Canadian Dollar, subjecting us to foreign currency risk which may adversely impact our financial results. The strengthening or weakening of the U.S. dollar versus the British Pound, Euro, Australian Dollar and Canadian Dollar, as well as other currencies in which we conduct our international operations, impacts the translation of our net revenues and expenses generated in these foreign currencies into the U.S. dollar. In the three months ended March 31, 2018 and 2017, we generated approximately 45% and 46% of our net revenues from customers domiciled outside of the United States ("U.S."), respectively. Other than the U.S., the U.K. was the only country where we generated more than 10% of total net revenues in the three months ended March 31, 2018 and 2017. During each of these periods, net revenues generated from the EU (excluding the U.K.) constituted less than 20% of total net revenues. Because we have generated substantial net revenues internationally in recent periods, including during the periods presented, we are subject to the risks of doing business in foreign countries. See Part I, Item 1A, Risk Factors in our 2017 Form 10-K, as supplemented and, to the extent inconsistent, superseded (if applicable) below in Part II, Item 1A, Risk Factors in this Form 10-Q.
We calculate the year-over-year impact of foreign currency movements on our business using prior period foreign currency exchange rates applied to current period transactional currency amounts. While changes in foreign currency exchange rates affect our reported results, we have a foreign currency exchange exposure management program whereby we designate certain foreign currency exchange contracts as cash flow hedges designed to reduce the impact on earnings from foreign currency exchange rate movements. Gains and losses from these foreign currency exchange contracts are recognized as a component of transaction revenues in the same period the forecasted transactions impact earnings.


37


In the three months ended March 31, 2018 and March 31, 2017, year-over-year foreign currency movements relative to the U.S. dollar had the following impact on our reported results:
 
Three Months Ended March 31, 2018
 
(In millions)
Favorable impact to net revenues (exclusive of hedging impact)
$
141

Hedging impact
(50
)
Favorable impact to net revenues
91

Unfavorable impact to operating expense
(59
)
Net impact to operating income
$
32


 
Three Months Ended March 31, 2017
 
(In millions)
Unfavorable impact to net revenues (exclusive of hedging impact)
$
(56
)
Hedging impact
40

Unfavorable impact to net revenues
(16
)
Favorable impact to operating expense
15

Net impact to operating income
$
(1
)

While we enter into foreign currency exchange contracts to help reduce the impact on earnings from foreign currency rate movements, it is impossible to predict or eliminate the total effects of this exposure.
Additionally, in connection with our services in multiple currencies, we generally set our foreign currency exchange rates daily, and may face financial exposure if we incorrectly set our foreign currency exchange rates or as a result of fluctuations in foreign currency exchange rates between the times that we set our foreign currency exchange rates. Given that we also have foreign currency exchange risk on our assets and liabilities denominated in currencies other than the functional currency of our subsidiaries, we have an additional foreign currency exchange exposure management program whereby we use foreign currency exchange contracts to offset the impact of foreign currency exchange rate movements on our assets and liabilities. The foreign currency gains and losses on our assets and liabilities are recorded in other income (expense), net, and are offset by the gains and losses on the foreign currency exchange contracts. These foreign currency exchange contracts reduce, but do not entirely eliminate, the impact of currency exchange rate movements on our assets and liabilities.

Financial Results

Net Revenues

Due to the diversification of PayPal’s business through strategic partnerships, new products and acquisitions, we have updated our definitions of "active accounts" and "total payment volume (TPV)" as described below.

Active Accounts: An active account is an account registered directly with PayPal or a platform access partner that has completed a transaction through our Payments Platform, not including gateway-exclusive transactions, within the past 12 months. The definition of active accounts has been expanded to include payments made or outstanding balances held on our co-branded credit card program. The definition has also been expanded to include accounts from our platform access partners. A platform access partner is a third party whose customers are provided access to PayPal’s Payments Platform through such third party’s login credentials. This expanded definition captures uniquely identifiable accounts for which PayPal receives economic benefits for completed transactions processed on behalf of customers who have established a relationship with PayPal.

Total Payment Volume: The value of payments, net of reversals, successfully completed through our Payments Platform or enabled by PayPal via a partner payment solution, not including gateway-exclusive transactions. The definition of TPV has been expanded to include PayPal’s diversification into new partner payment solutions such as certain tokenized transactions and contextual commerce which expand our opportunities for growth.


38


The revised definition will also capture TPV from our merchant debit card program. Due to their inclusion in TPV, revenues from these transactions were reclassified from “other value added services” to “transaction revenues” with no change to “total net revenues.”

These revisions also impacted previously reported results for other non-financial key performance metrics, including number of payment transactions and payment transactions per active account. Prior period metrics have been revised in this filing to conform to the new definitions.

We earn revenue from the following types of transactions:

Transaction revenues: Net transaction fees charged to consumers and merchants on a transaction basis primarily based on the volume of activity, or total payments volume (“TPV”), processed through our Payments Platform. Growth in TPV is directly impacted by the number of payment transactions that we enable on our Payments Platform. Payment transactions are the total number of payments, net of payment reversals, successfully completed through our Payments Platform, not including gateway-exclusive transactions. We earn additional fees on transactions settled in foreign currencies when we enable cross-border transactions (i.e., transactions where the merchant or consumer are in different countries).

Other value added services: Net revenues derived principally from interest and fees earned on our loans and interest receivable, net and held for sale portfolio, subscription fees, gateway fees, gains on sale of participation interests in certain consumer loans receivable and working capital loans and advances, revenue share we earn through partnerships, interest earned on certain PayPal customer account balances, and fees earned through other services that we provide to consumers and merchants.

Net Revenues Analysis

The components of our net revenue for the three months ended March 31, 2018 and 2017 were as follows:
 
Three Months Ended March 31,
 
Percent Increase/(Decrease)
 
2018
 
2017(1)
 
 
(In millions, except percentages)
Transaction revenues
$
3,197

 
$
2,624

 
22
%
Other value-added services
488

 
351

 
39
%
Net revenues
$
3,685

 
$
2,975

 
24
%
(1) Amounts in the prior period were reclassified to conform to current period presentation.

Transaction revenues grew by $573 million, or 22%, for the three months ended March 31, 2018 compared to the same period of the prior year due primarily to the growth in TPV, mainly from our PayPal and Braintree products.

The following table provides a summary of our active accounts, number of payment transactions, TPV and related metrics:
 
Three Months Ended March 31,
 
Percent Increase/(Decrease)
 
2018
 
2017(1)
 
 
(In millions, except percentages)
Active accounts(2)
237

 
205

 
15
%
Number of payment transactions(3)
2,214

 
1,771

 
25
%
Payment transactions per active account(4)
34.7

 
32.2

 
8
%
Total TPV(5)
$
132,364

 
$
100,639

 
32
%
Percent of cross-border TPV
21
%
 
21
%
 
**

All amounts in tables are rounded to the nearest million, except as otherwise noted. As a result, certain amounts may not recalculate using the rounded amounts provided.
(1) Prior period amounts were revised to reflect updated definitions of our metrics.
(2) Reflects active accounts as of the end of the applicable period. An active account is an account registered directly with PayPal or a platform access partner that has completed a transaction through our Payments Platform, not including gateway-exclusive transactions, within the past 12 months.
(3) Number of payment transactions are the total number of payments, net of payment reversals, successfully completed through our Payments Platform, not including gateway-exclusive transactions.
(4) Number of payment transactions per active account reflects the total number of payment transactions within the previous 12 month period, divided by active accounts at the end of the period.
(5) TPV is the value of payments, net of reversals, successfully completed through our Payments Platform or enabled by PayPal via a partner payment solution, not including gateway-exclusive transactions.
** Not meaningful

39



Transaction revenues grew more slowly than both TPV and number of payment transactions for the three months ended March 31, 2018 compared to the same period in the prior year due to a higher proportion of person-to-person ("P2P") transactions (primarily from our PayPal and Venmo products) from which we earn lower rates, foreign exchange hedging losses, and a higher portion of TPV generated by large merchants who generally pay lower rates with higher transaction volumes. Changes in prices charged to our customers did not significantly impact transaction revenue growth for the three months ended March 31, 2018.

For the three months ended March 31, 2018, net revenues from other value added services increased $137 million, or 39%, compared to the same period in the prior year due primarily to interest and fee income earned on our PayPal Credit loans receivable portfolio which was also positively impacted by held for sale accounting for our U.S. consumer credit portfolio. Swift revenues contributed approximately eight percentage points to the growth rate. The total consumer and merchant loans and interest receivable balance, including consumer loans and receivables, held for sale, as of March 31, 2018 and March 31, 2017 was $8.3 billion and $5.7 billion, respectively, reflecting a year-over-year increase of 46%.

In November 2017, we reached an agreement to sell our U.S. consumer credit receivables portfolio to Synchrony Bank, which we believe will enable us, at closing, to free up balance sheet capacity and cash flow for other uses, and mitigate balance sheet risk. Historically, this portfolio was reported as outstanding principal balances, net of any participation interest sold and pro-rata allowances including, unamortized deferred origination costs and estimated collectible interest and fees. Upon approval of the decision to sell these receivables from our Board of Directors, the portfolio was reclassified as held for sale, and recorded at the lower of cost or fair value. This transaction will be accounted for as a sale, and the receivables will no longer be reported in our consolidated financial statements, upon close of the transaction.

Following the closing of this transaction, which is expected to occur in the third quarter of 2018, Synchrony Bank will become the exclusive issuer of the PayPal Credit online consumer financing program in the U.S., and we will no longer hold an ownership interest in the receivables generated through the program (other than charged off receivables). In addition, we will earn a profit share on the portfolio of consumer receivables owned by Synchrony Bank, which will be recorded in net revenues from other value added services.

Operating Expenses

The following table summarizes our operating expenses and related metrics:
 
Three Months Ended March 31,
 
Percent Increase/(Decrease)
 
2018
 
2017
 
 
(In millions, except percentages)
Transaction expense
$
1,275

 
$
987

 
29
%
Transaction and loan losses
305

 
300

 
2
%
Customer support and operations
351

 
317

 
11
%
Sales and marketing
285

 
238

 
20
%
Product development
258

 
214

 
21
%
General and administrative
339

 
265

 
28
%
Depreciation and amortization
185

 
183

 
1
%
Restructuring and other charges
153

 
40

 
283
%
Total operating expenses
$
3,151

 
$
2,544

 
24
%
Transaction expense rate(1)
0.96
%
 
0.98
%
 
**

Transaction and loan loss rate(2)
0.23
%
 
0.30
%
 
**

(1) Transaction expense rate is calculated by dividing transaction expense by TPV. Prior year amount was revised to reflect updated TPV definition, as discussed above.
(2) Transaction and loan loss rate is calculated by dividing transaction and loan losses by TPV. Prior year amount was revised to reflect updated TPV definition, as discussed above.
** Not meaningful

40



Transaction Expense

Transaction expense increased by $288 million, or 29%, in the three months ended March 31, 2018 compared to the same period of the prior year primarily due to the increase in TPV of 32%. The decrease in our transaction expense rate for the three months ended March 31, 2018 compared to the same period of the prior year was due primarily to the impact of foreign currency exchange rates and a higher volume of P2P transactions.

Our transaction expense rate is impacted by changes in regional and funding mix, and assessments charged by payments processors and other financial institutions when we draw funds from a customer’s credit or debit card, bank account or other funding sources. The cost of funding a transaction with a credit or debit card is generally higher than the cost of funding a transaction from a bank or through internal sources such as a PayPal account balance or PayPal Credit. For each of the three months ended March 31, 2018 and 2017, approximately 2% of TPV was funded with PayPal Credit. For the three months ended March 31, 2018 and 2017, approximately 44% and 42% of TPV was generated outside of the U.S., respectively. As we expand the availability and presentation of alternative funding sources to our customers, our funding mix may change, which could increase or decrease our transaction expense rate.

Transaction and Loan Losses

The components of our transaction and loan losses for the three months ended March 31, 2018 and 2017 were as follows:
 
Three Months Ended March 31,
 
Percent Increase/(Decrease)
 
2018
 
2017
 
 
(In millions, except percentages)
Transaction losses
$
243

 
$
171

 
42
 %
Loan losses
62

 
129

 
(52
)%
Transaction and loan losses
$
305

 
$
300

 
2
 %

Transaction losses increased by $72 million, or 42%, in the three months ended March 31, 2018 compared to the same period of the prior year primarily due to the increase in TPV. Transaction losses as a percentage of TPV increased by one basis point in the three months ended March 31, 2018, compared to the same period of the prior year.

Loan losses decreased by $67 million, or 52%, in the three months ended March 31, 2018 compared to the same period of the prior year due primarily to the designation of our U.S. consumer credit portfolio as held for sale, partially offset by an increase in our PayPal Working Capital loans and Swift business loans receivable balance. The total consumer loans and interest receivable balance as of March 31, 2018 and March 31, 2017 was $403 million and $5.1 billion, respectively, reflecting a year-over-year decrease of 92%.

The following table provides information regarding the credit quality of our pool of consumer loans and interest receivable balance:
 
March 31,
 
2018
 
2017
Percent of consumer loans and interest receivables current(1)
95.3
%
 
91.3
%
Percent of consumer loans and interest receivables > 90 days outstanding(1)(2)
1.5
%
 
3.9
%
Net charge off rate(1)(3)
2.3
%
 
6.9
%
(1) Amounts as of March 31, 2018 represent loans and interest receivables due from consumer accounts not classified as held for sale. Amounts as of March 31, 2017 represent total consumer loans and interest receivables including U.S. consumer receivables because they were not classified as held for sale as of that date.
(2) Represents percentage of balances which are 90 days past the billing date to the consumer.
(3) Net charge off rate is the annual ratio of net credit losses on consumer loans receivables as a percentage of the average daily amount of consumer loans and interest receivables balance during the period.
 
We offer business financing solutions to certain small and medium-sized merchants. Total merchant loans, advances interest and fees receivable outstanding as of March 31, 2018, net of participation interest sold, were $1.2 billion. Total merchant loans, advances, interest and fees receivable outstanding as of March 31, 2017 were $566 million, representing a year-over-year increase of 117%, which was due primarily to the acquisition of Swift portfolio and its growth subsequent to acquisition, combined with increase in the availability of our PPWC credit products.

We closely monitor credit quality for our merchant loans and advances that we extend or purchase so that we can evaluate, quantify, and manage our credit risk exposure. To assess a merchant seeking a business financing loan or advance, we use, among other

41


indicators, risk models developed internally which utilize information obtained from multiple data sources, both external and internal data to predict the likelihood of timely and satisfactory repayment by the merchant of the loan or advance amount and the related interest or fixed fee. Primary drivers of the models include the merchant's annual payment volume, payment processing history with PayPal and prior repayment history with the PayPal products where available, elements sourced from consumer credit bureau and business credit bureau reports, and other information obtained during the application process. We use delinquency status and trends to assist in making ongoing credit decisions, to adjust our internal models, to plan our collection practices and strategies and in our determination of our allowance for these loans and advances.

For PPWC product, the number of days our merchant loans and advances receivables are past due is based on the current expected repayment period of the loan or advance and fixed fee as compared to an original expected repayment period. We generally calculate the repayment rate of the merchant's estimated future payment volume such that repayment of the advance and fixed fee is expected to occur within 9 to 12 months from the date of the loan or advance. On a monthly basis, we recalculate the repayment period based on the repayment activity on the receivable. As such, actual repayment periods are dependent on actual payment processing volumes. For Swift business loans, we receive fixed periodic payments over the contractual term of the loan which generally ranges from 3 to12 months. We monitor receivables with repayment periods greater than the original expected or contractual repayment period.

The following table provides information regarding the credit quality of our merchant receivables:
 
March 31,
 
2018
 
2017
Merchant loans and advances
 
 
 
Percent of merchant receivables within original expected or contractual repayment period
90.1
%
 
83.2
%
Percent of merchant receivables > 90 days outstanding after the end of original expected or contractual repayment period
4.1
%
 
7.8
%

Modifications to the acceptable risk parameters of our PayPal Credit products for the periods presented did not have a material impact on our loans. For additional information, see "Note 11—Loans and Interest Receivable" in the notes to the condensed consolidated financial statements in Part I, Item 1 of this Form 10-Q.

Customer Support and Operations

Customer support and operations expenses increased by $34 million, or 11%, in the three months ended March 31, 2018 compared to the same period of the prior year due primarily to an increase in network infrastructure expenses and contractor and employee related expenses to support the growth in our active accounts and the number of payment transactions occurring on our Payments Platform.

Sales and Marketing

Sales and marketing expenses increased by $47 million, or 20%, in the three months ended March 31, 2018 compared to the same period of the prior year due primarily to higher employee-related expenses. Our recent acquisitions contributed approximately nine percentage points to the growth rate.

Product Development

Product development expenses increased by $44 million, or 21%, in the three months ended March 31, 2018 compared to the same period of the prior year due primarily to an increase in employee-related expenses. Our recent acquisitions contributed approximately two percentage points to the growth rate.
 
General and Administrative

General and administrative expenses increased by $74 million, or 28%, in the three months ended March 31, 2018 compared to the same period of the prior year due primarily to an increase in employee-related expenses and facilities cost. Our recent acquisitions contributed approximately three percentage points to the growth rate.

Depreciation and Amortization

Depreciation and amortization expenses in the three months ended March 31, 2018 remained consistent as compared to the same period of the prior year.

42



Restructuring and Other Charges

Restructuring and other charges increased by $113 million in the three months ended March 31, 2018 compared to the same period of the prior year due to cost basis adjustments related to our loans and receivables, held for sale portfolio, partially offset by lower restructuring charges incurred compared to the same period of the prior year.

In March 2018, management approved a strategic reduction of the existing global workforce, including a decision to wind down TIO's operations, which resulted in restructuring charges of $25 million. The reduction and cash payments associated are expected to be substantially completed by the end of 2018. Restructuring expenses were $40 million in the three months ended March 31, 2017.

Due to the designation of the U.S. consumer credit receivables portfolio as held for sale in November 2017, approximately $128 million related to adjustments to the cost basis, which are primarily driven by charge offs against those loans and interest receivables, were recorded in restructuring and other charges during the three months ended March 31, 2018.

Income Tax Expense

Our effective income tax rate was 7% and 12% for the three months ended March 31, 2018 and 2017, respectively. The decrease in our effective income tax rate was due primarily to discrete tax adjustments related to the accounting for the tax benefits of stock-based compensation.

Non-GAAP Financial Information

Non-GAAP financial information is defined as a numerical measure of a company’s performance that excludes or includes amounts that create differences between the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (“GAAP”). Pursuant to the requirements of Regulation S-K, the following portion of this “Management’s Discussion and Analysis of Financial Condition and Results of Operations” includes a reconciliation of certain non-GAAP financial measures to the most directly comparable GAAP financial measures. The presentation of non-GAAP financial measures should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP.

We present non-GAAP financial measures to enhance an investor’s evaluation of our operating results and to facilitate meaningful comparisons of our results between periods. Management uses these non-GAAP financial measures to, among other things; evaluate our operations, for internal planning and forecasting purposes and in the calculation of performance-based compensation.

We exclude the following items from non-GAAP net income, non-GAAP net income per diluted share, non-GAAP operating income, non-GAAP operating margin and non-GAAP effective tax rate:

Stock-based compensation expense and related employer payroll taxes. This consists of expenses for equity awards under our equity incentive plans. We exclude stock-based compensation expense from our non-GAAP measures primarily because they are non-cash expenses. The related employer payroll taxes are dependent on our stock price and the timing and size of exercises and vesting of equity awards, over which management has limited to no control, and as such management does not believe it correlates to the operation of our business.
Amortization or impairment of acquired intangible assets, impairment of goodwill, and transaction expenses from the acquisition or disposal of a business. We incur amortization or impairment of acquired intangible assets and goodwill in connection with acquisitions and may incur significant gains or losses or transactional expenses from the acquisition or disposal of a business and therefore exclude these amounts from our non-GAAP measures. We exclude these items because management does not believe they are reflective of our ongoing operating results.
Restructuring. These consist of expenses for employee severance and other exit and disposal costs. We exclude restructuring charges primarily because management does not believe they are reflective of our ongoing operating results.
Certain other significant gains, losses, benefits, or charges that are not indicative of our core operating results. These are significant gains, losses, benefits, or charges during a period that are the result of isolated events or transactions which have not occurred frequently in the past and are not expected to occur regularly in the future. We exclude these amounts from our non-GAAP results because management does not believe they are indicative of our ongoing operating results.

43


Tax effect of non-GAAP adjustments. This adjustment is made to present stock-based compensation and the other amounts described above on an after-tax basis consistent with the presentation of non-GAAP net income.

The following table provides reconciliations of our condensed consolidated non-GAAP financial measures to the most directly comparable GAAP financial measures for the three months ended March 31, 2018 and 2017:

 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions, except percentages)
GAAP operating income
$
534

 
$
431

Stock-based compensation expense and related employer payroll taxes
241

 
149

Amortization of acquired intangible assets
29

 
23

Restructuring
25

 
40

Total non-GAAP operating income adjustments
295

 
212

Non-GAAP operating income
$
829

 
$
643

Non-GAAP operating margin
22
%
 
22
%

 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions, except percentages and per share data)
GAAP income before income taxes
$
548

 
$
438

GAAP income tax expense
37

 
54

GAAP net income
511

 
384

Non-GAAP adjustments to net income:
 
 
 
Non-GAAP operating income adjustments (see table above)
295

 
212

Other(1)
3

 

Tax effect of non-GAAP adjustments
(117
)
 
(62
)
Non-GAAP net income
$
692

 
$
534

 
 
 
 
GAAP net income per diluted share
$
0.42

 
$
0.32

Non-GAAP net income per diluted share
$
0.57

 
$
0.44

Shares used in GAAP diluted share calculation
1,217

 
1,216

Shares used in non-GAAP diluted share calculation
1,217

 
1,216

 
 
 
 
GAAP income tax expense
$
37

 
$
54

Tax effect of non-GAAP adjustments
114

 
62

Non-GAAP income tax expense
$
151

 
$
116

 
 
 
 
GAAP effective tax rate
7
%
 
12
%
Tax effect of non-GAAP adjustments to net income
11
%
 
6
%
Non-GAAP effective tax rate
18
%
 
18
%
(1) Tax expense related to the Tax Act.

44


In addition to the non-GAAP measures discussed above, we also use free cash flow to assess our performance. Free cash flow represents cash flows from operating activities less purchases of property and equipment. We consider free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after the purchases of property and equipment, and investments in our Payments Platform, which can then be used to, among other things, invest in our business, make strategic acquisitions, and repurchase stock. A limitation of the utility of free cash flow as a measure of financial performance is that it does not represent the total increase or decrease in our cash balance for the period. A reconciliation of free cash flow to the most directly comparable GAAP financial measure is presented below:
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions)
Net cash (used in) provided by operating activities(1)
$
(349
)
 
$
751

Less: purchases of property and equipment
(178
)
 
(148
)
Free cash flow
$
(527
)
 
$
603

(1) The period ended March 31, 2018 includes a $1.3 billion reduction due to the change in presentation of the U.S. consumer credit portfolio subsequent to its designation as held for sale in November 2017.


Liquidity and Capital Resources

We require liquidity and access to capital to fund our global operations, including customer protection programs, our PayPal Credit products, capital expenditures, investments in our business, potential acquisitions, working capital and other cash needs. The following table summarizes the cash, cash equivalents and investments as of March 31, 2018 and December 31, 2017:
 
March 31, 2018
 
December 31, 2017
 
(In millions)
Cash, cash equivalents and investments(1)(2)
$
7,622

 
$
7,487

(1) Excludes assets related to customer accounts of $19.2 billion and $18.2 billion at March 31, 2018 and December 31, 2017, respectively.
(2) Excludes total restricted cash of $83 million and $81 million at March 31, 2018 and December 31, 2017, respectively, and equity investments of $88 million as of both March 31, 2018 and December 31, 2017.

Cash, cash equivalents and investments held by our foreign subsidiaries were $6.6 billion as of March 31, 2018 and $6.1 billion at December 31, 2017, or 87% and 81% of our total cash, cash equivalents and investments as of those respective dates. At December 31, 2017, all of our cash, cash equivalents and investments held by foreign subsidiaries were subject to U.S. taxation under the one-time transition tax. Subsequent repatriations will not be taxable from a U.S. federal tax perspective, but may be subject to state or foreign withholding tax.

In the fourth quarter of 2017, we entered into a credit agreement ("2017 Credit Agreement") that provides for an unsecured $3.0 billion, 364-day delayed-draw term loan credit facility, which is available in up to three borrowings. Borrowings and other amounts payable under the 2017 Credit Agreement are guaranteed by our PayPal, Inc. subsidiary. Subject to specified conditions, we may designate one or more of our subsidiaries as additional borrowers under the 2017 Credit Agreement provided that we and PayPal, Inc. guarantee all borrowings and other obligations of any such subsidiaries under the 2017 Credit Agreement. As of March 31, 2018, no subsidiaries were designated as additional borrowers. Funds borrowed under the 2017 Credit Agreement may be used for capital allocation and other general corporate purposes of us and our subsidiaries.

Loans under the 2017 Credit Agreement will bear interest at either (i) the London Interbank Offered Rate (“LIBOR”) plus a margin (based on our public debt ratings) ranging from 1.00 percent to 1.25 percent or (ii) a formula based on the agent bank's prime rate, the NYFRB rate (the greater of the federal funds effective rate and the overnight bank funding rate) or LIBOR plus a margin (based on our public debt ratings) ranging from zero percent to 0.25 percent. The 2017 Credit Agreement will terminate and all amounts owing thereunder will be due and payable in December 2018, unless the commitments are terminated earlier, either at our request or, if an event of default occurs, by the lenders (or automatically in the case of certain bankruptcy-related events). Subject to certain exceptions, if we were to issue debt securities or enter into a credit facility, a corresponding portion of the aggregate commitments and outstanding loans under the 2017 Credit Agreement will be terminated and be required to be paid, as applicable. The 2017 Credit Agreement contains customary representations, warranties, affirmative and negative covenants, including financial covenants, events of default and indemnification provisions in favor of the lenders. The negative covenants include restrictions regarding the incurrence of liens, subject to certain exceptions. The financial covenants require us to meet a quarterly financial test with respect to a minimum consolidated interest coverage ratio and a maximum consolidated leverage ratio, based on our public debt ratings.

45



During the three months ended March 31, 2018, we effected two drawdowns aggregating to $2.0 billion under the 2017 Credit Agreement. As of March 31, 2018, $3.0 billion was outstanding under the 2017 Credit Agreement at a weighted average interest rate of 2.88%. Accordingly, at March 31, 2018, no borrowing capacity was available under the 2017 Credit Agreement. On April 5, 2018, we repaid $1.0 billion of the borrowings outstanding under the 2017 Credit Agreement. No remaining borrowing capacity is available under this agreement.

We maintain uncommitted credit facilities in various regions throughout the world, aggregating to approximately $350 million of borrowing capacity. Interest rate terms for these facilities vary by region and reflect prevailing market rates for companies with strong credit ratings. As of March 31, 2018, no amounts were outstanding under these facilities, and therefore, approximately $350 million of borrowing capacity was available, subject to customary conditions to borrowing.

In the third quarter of 2015, we entered into a credit agreement ("2015 Credit Agreement" and collectively with the 2017 Credit Agreement, the "Credit Agreements") that provides for an unsecured $2.0 billion, 5-year revolving credit facility that includes a $150 million letter of credit sub-facility and a $150 million swingline sub-facility, with available borrowings under the revolving credit facility reduced by the amount of any letters of credit and swingline borrowings outstanding from time to time. Borrowings and other amounts payable under the 2015 Credit Agreement are guaranteed by our PayPal, Inc. subsidiary. We may also, subject to the agreement of the applicable lenders, increase the commitments under the revolving credit facility by up to $500 million. Subject to specified conditions, we may designate one or more of our subsidiaries as additional borrowers under the 2015 Credit Agreement provided that we and PayPal Inc. guarantee all borrowings and other obligations of any such subsidiaries under the 2015 Credit Agreement. As of March 31, 2018, no subsidiaries were designated as additional borrowers. Funds borrowed under the 2015 Credit Agreement may be used for working capital, capital expenditures, acquisitions and other general corporate purposes.

Loans under the 2015 Credit Agreement will bear interest at either (i) LIBOR plus a margin (based on our public debt ratings) ranging from 1.00 percent to 1.625 percent or (ii) a formula based on the agent bank’s prime rate, the federal funds effective rate or LIBOR plus a margin (based on our public debt ratings) ranging from zero percent to 0.625 percent. Subject to certain conditions stated in the 2015 Credit Agreement, we and any of our subsidiaries designated as additional borrowers may borrow, prepay and re-borrow amounts under the revolving credit facility at any time during the term of the 2015 Credit Agreement. The 2015 Credit Agreement will terminate and all amounts owing thereunder will be due and payable on July 17, 2020, unless (a) the commitments are terminated earlier, either at our request or, if an event of default occurs, by the lenders (or automatically in the case of certain bankruptcy-related events), or (b) the maturity date is extended upon our request, subject to the agreement of the lenders. The Credit Agreement contains customary representations, warranties, affirmative and negative covenants, including financial covenants, events of default and indemnification provisions in favor of the banks. The negative covenants include restrictions regarding the incurrence of liens, subject to certain exceptions. The financial covenants require us to meet a quarterly financial test with respect to a minimum consolidated interest coverage ratio and a maximum consolidated leverage ratio, based on our public debt ratings.

As of March 31, 2018, no borrowings or letters of credit were outstanding under the 2015 Credit Agreement. Accordingly, at March 31, 2018, $2.0 billion of borrowing capacity was available for the purposes permitted by the 2015 Credit Agreement, subject to customary conditions to borrowing.

We have a cash pooling arrangement with a financial institution for cash management purposes. The arrangement allows for cash withdrawals from the financial institution based upon our aggregate operating cash balances held within the financial institution (“Aggregate Cash Deposits”). The arrangement also allows us to withdraw amounts exceeding the Aggregate Cash Deposits up to an agreed-upon limit. The net balance of the withdrawals and the Aggregate Cash Deposits are used by the financial institution as a basis for calculating our net interest expense or income under these arrangements. As of March 31, 2018, we had a total of $3.8 billion in cash withdrawals offsetting our $3.8 billion in Aggregate Cash Deposits held within the financial institution under the cash pooling arrangement.

Growth in the portfolio of loan receivables increases our liquidity needs and any failure to meet those liquidity needs could adversely affect our business. We continue to evaluate partnerships and third party sources of funding of our credit portfolio. In March 2016, as approved by management and our Luxembourg banking subsidiary's Supervisory Board and as permitted within regulations set forth by the Luxembourg Commission de Surveillance du Secteur Financier (the "CSSF"), we designated $800 million of European customer balances held in our Luxembourg banking subsidiary to be used to extend credit to our European customers. In the fourth quarter of 2017, an additional amount of $700 million of European customer balances held in our Luxembourg banking subsidiary was approved and designated to be used to extend credit to our U.S. consumers. These funds were classified as cash and cash equivalents in our condensed consolidated balance sheet on the date of designation and represent approximately 26% of European customer balances potentially available for corporate use by us at March 31, 2018 as determined by applying financial regulations maintained by the CSSF. We may periodically seek to designate additional amounts of customer

46


balances, if necessary, based on utilization of the approved funds and anticipated credit funding requirements. Our objective is to expand the availability of our credit products with capital from external sources, although there can be no assurance that we will be successful in achieving that goal.

In November 2017, we reached an agreement to sell our U.S. consumer credit receivables portfolio to Synchrony Bank. Historically, this portfolio was reported as outstanding principal balances, net of any participation interest sold and pro-rata allowances including, unamortized deferred origination costs and estimated collectible interest and fees. Following the closing of this transaction, which is expected to occur in the third quarter of 2018, Synchrony Bank will become the exclusive issuer of the PayPal credit online consumer financing program in the U.S., and we will no longer hold an ownership interest in the receivables generated through the program (other than charged off receivables).

As of March 31, 2018, we continue to be rated investment grade by Standard and Poor's Financial Services, LLC and Fitch Ratings, Inc. We expect that these credit rating agencies will continue to monitor our performance, including our capital structure and results of operations. Our goal is to be rated investment grade, but as circumstances change there are factors that could result in our credit ratings being downgraded or put on a watch list for possible downgrading. If that were to occur, it could increase our borrowing rates, including the interest rate on loans under the Credit Agreements.
The risk of losses from our customer protection programs are specific to individual customers, merchants and transactions, and may also be impacted by regional variations in and changes or modifications to, the programs, including as a result of changes in regulatory requirements. For the periods presented in the condensed consolidated financial statements included in this report, our transaction loss rates, calculated by dividing transaction loss by TPV, ranged between 0.17% and 0.18% of TPV. Historical trends may not be an indication of future results.

In April 2017, our Board of Directors authorized a stock repurchase program that provides for the repurchase of up to $5 billion of our common stock, with no expiration from the date of authorization. The stock repurchase program is intended to offset the impact of dilution from our equity compensation programs and, subject to market conditions and other factors, may also be used to make opportunistic repurchases of our common stock to reduce outstanding share count. Any share repurchases under our stock repurchase program may be made through open market transactions, block trades, privately negotiated transactions including accelerated share repurchase agreements or other means at times and in such amounts as management deems appropriate and will be funded from our working capital or other financing alternatives. However, any stock repurchases are subject to market conditions and other uncertainties and we cannot predict if or when any stock repurchases will be made. Moreover, we may terminate our stock repurchase program at any time without notice.

During the three months ended March 31, 2018, we repurchased approximately $825 million of our common stock through open market repurchases and approximately $1.0 billion pursuant to the ASR agreement, under our stock repurchase program authorized in April 2017. As of March 31, 2018, a total of approximately $3.2 billion remained available for future repurchases of our common stock under our stock repurchase program.

Our liquidity, access to capital and borrowing costs could be adversely impacted by declines in our credit rating, our financial performance and global credit market conditions, as well as a broad range of other factors. In addition, our liquidity, access to capital and borrowing costs could also be negatively impacted by the outcome of any of the legal or regulatory proceedings to which we are a party. See Part I, Item 1A, Risk Factors in our 2017 Form 10-K, as supplemented and, to the extent inconsistent, superseded below in Part II, Item 1A, Risk Factors in this Form 10-Q, as well as “Note 13—Commitments and Contingencies” to the condensed consolidated financial statements in Part I, Item 1 of this Form 10-Q for additional discussion of these and other risks facing our business.

We believe that our existing cash, cash equivalents, and investments, cash expected to be generated from operations, and our expected access to capital markets, together with potential external funding through third party sources, will be sufficient to fund our operating activities, anticipated capital expenditures, and PayPal Credit products for the foreseeable future. Depending on market conditions, we may from time to time issue debt, including in private or public offerings, to fund our operating activities, finance acquisitions, repurchase shares under our share repurchase program or reduce our cost of capital.

47



Cash Flows

The following table summarizes our condensed consolidated statement of cash flows:
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions)
Net cash provided by (used in):
 
 
 
Operating activities
$
(349
)
 
$
751

Investing activities
5

 
(1,243
)
Financing activities
793

 
(54
)
Effect of exchange rates on cash, cash equivalents and restricted cash
(7
)
 
11

Net increase/(decrease) in cash, cash equivalents and restricted cash
$
442

 
$
(535
)

Operating Activities

The net cash used in operating activities of $349 million in the three months ended March 31, 2018 was primarily due to the $1.3 billion negative impact of changes in the loans and interest receivable held for sale, net and changes in other assets and liabilities of $468 million primarily related to actual cash transaction losses incurred during the period. These uses of cash were partially offset by operating income of $534 million and adjustments for non-cash expenses of depreciation and amortization and stock-based compensation of $390 million and expenses related to provision for transaction and loan losses of $305 million.

We generated cash from operating activities of $751 million in the three months ended March 31, 2017 due primarily to operating income of approximately $431 million. Adjustments for non-cash expenses of depreciation and amortization and stock-based compensation were approximately $328 million during the three months ended March 31, 2017. Adjustments for non-cash expenses related to provision for transaction and loan losses were approximately $300 million during the three months ended March 31, 2017. The cash generated from operating activities was negatively impacted by changes in other assets and liabilities of $366 million primarily related to actual cash transaction losses incurred during the period and timing of employee related costs, including bonus payments under our annual incentive award program.

In the three months ended March 31, 2018, we received a net cash refund of income taxes of $6 million. Cash paid for income taxes in the three months ended March 31, 2017 was $48 million.

Investing Activities

We generated cash from investing activities of $5 million in the three months ended March 31, 2018 was due primarily to purchases of investments of $5.3 billion and purchases of property and equipment of $178 million offset by maturities and sales of investments of $4.3 billion, changes in principal loans receivable, net of $738 million, and changes in funds receivable from customers of $429 million.

The net cash used in investing activities of $1.2 billion in the three months ended March 31, 2017 was due primarily to purchases of investments of $7.1 billion, changes in principal loans receivable, net of $136 million and purchases of property and equipment of $148 million. These net cash outflows were partially offset by maturities and sales of investments of $5.6 billion and changes in funds receivable from customers of $567 million.

Financing Activities

We generated cash from financing activities of $793 million in the three months ended March 31, 2018 due primarily to borrowings on our 2017 Credit Agreement of $2.0 billion and increase in funds payable and amounts due to customers of $865 million. These net inflows were offset by the repurchase of $1.8 billion of our common stock under our stock repurchase program and tax withholdings related to net share settlement of equity awards of $335 million.

The net cash used in financing activities of $54 million in the three months ended March 31, 2017 was due primarily to the repurchase of $517 million of our common stock under our stock repurchase program and tax withholdings related to net share settlement of equity awards of $101 million offset by increases in funds payable and amounts due to customers of $552 million.


48


Free Cash Flow

Free cash flow is a non-GAAP financial measure. See "Non-GAAP Financial Information" above for information on how we compute free cash flow and a reconciliation to the most directly comparable GAAP financial measure. We define free cash flow as cash flows from operating activities less purchases of property and equipment.

We had negative free cash flow of $527 million in the three months ended March 31, 2018, representing a decrease of $1.1 billion from the same period of the prior year. The decrease in free cash flow during the period was due to lower cash generated from operating activities of $1.1 billion, which was impacted by the change in presentation from investing activities to operating activities of originations and collections on the U.S. consumer credit portfolio subsequent to its designation as held for sale in November 2017, and higher purchases of property and equipment of $30 million as compared to the same period of the prior year.

Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash

During the three months ended March 31, 2018, we had a negative effect of currency exchange rates on cash, cash equivalents and restricted cash of $7 million due to the strengthening of the U.S. dollar against certain foreign currencies, primarily the Australian dollar. During the three months ended March 31, 2017 we had a positive effect of currency exchange rates on cash, cash equivalents and restricted cash of $11 million, due to the weakening of the U.S. dollar against certain foreign currencies, primarily the Euro.

Off-Balance Sheet Arrangements

As of March 31, 2018, we had no off-balance sheet arrangements that have, or are reasonably likely to have, a current or future material effect on our consolidated financial condition, results of operations, liquidity, capital expenditures or capital resources.


49


Item 3: Quantitative and Qualitative Disclosures About Market Risk

Market risk is the potential for economic losses to be incurred on market risk sensitive instruments arising from adverse changes in market factors such as interest rates, foreign currency exchange rates and equity price risk. Management establishes and oversees the implementation of policies governing our investing, funding, and foreign currency derivative activities in order to mitigate market risks. We monitor risk exposures on an ongoing basis.

Interest Rate Risk

We are exposed to interest-rate risk relating to our investment portfolio and from interest-rate sensitive assets underlying the customer balances we hold on our condensed consolidated balance sheet as customer accounts. . 

As of March 31, 2018 and December 31, 2017, approximately 38% and 39% of our total cash and investment portfolio was held in cash and cash equivalents. The assets underlying the customer balances we hold on our condensed consolidated balance sheet as customer accounts are maintained in interest and non-interest bearing bank deposits, time deposits, and U.S. and foreign government and agency securities and corporate debt securities. We classify the assets underlying the customer balances as current based on their purpose and availability to fulfill our direct obligation under amounts due to customers. We seek to preserve principal while holding eligible liquid assets, as defined by applicable regulatory requirements and commercial law in the jurisdictions where we operate, equal to at least 100% of the aggregate amount of all customer balances. We do not pay interest on amounts due to customers.

In the fourth quarter of 2017, we entered into an unsecured $3.0 billion, 364-day delayed-draw term loan credit facility, which is available in up to three borrowings ("2017 Credit Agreement"). In the third quarter of 2015, we entered into a $2.0 billion senior unsecured credit facility maturing in 2020 ("2015 Credit Agreement"). We maintain uncommitted credit facilities in various regions throughout the world, aggregating to approximately $350 million.

Borrowings under the 2017 Credit Agreement and 2015 Credit Agreement, if any, bear interest at floating rates. As a result, we will be exposed to fluctuations in interest rates to the extent of our borrowings. As of March 31, 2018, we had $3.0 billion of borrowings outstanding under the 2017 Credit Agreement at a weighted average interest rate of 2.88%. Accordingly, at March 31, 2018, no borrowing capacity was available under the 2017 Credit Agreement. As of March 31, 2018, no borrowings or letters of credit were outstanding under the 2015 Credit Agreement or uncommitted facilities.

Interest rates may also adversely impact our customers’ spending levels and ability and willingness to pay outstanding amounts owed to us. Higher interest rates often lead to higher payment obligations by customers to us and other lenders under mortgage, credit card and other consumer and merchant loans, which may reduce our customers’ ability to remain current on their obligations to us and therefore lead to increased delinquencies, charge-offs and allowance for loan and interest receivable, which could have an adverse effect on our net income.

A 100 basis point increase in interest rates would not have had a material impact on our financial assets or liabilities at March 31, 2018 and December 31, 2017.

Foreign Currency Risk

We have significant operations internationally that are denominated in foreign currencies, primarily the British Pound, Euro, Australian Dollar and Canadian Dollar, subjecting us to foreign currency risk which may adversely impact our financial results. We transact business in various foreign currencies and have significant international revenues and costs. In addition, we charge our international subsidiaries for their use of intellectual property and technology and for certain corporate services. Our cash flows, results of operations and certain of our intercompany balances that are exposed to foreign exchange rate fluctuations may differ materially from expectations and we may record significant gains or losses due to foreign currency fluctuations and related hedging activities. We are generally a net receiver of foreign currencies and therefore benefit from a weakening of the U.S. dollar, and are adversely affected by a strengthening of the U.S. dollar, relative to foreign currencies.

We have a foreign exchange exposure management program designed to identify material foreign currency exposures, manage these exposures and reduce the potential effects of currency fluctuations on our reported condensed consolidated cash flows and results of operations through the execution of foreign currency exchange contracts. These foreign currency exchange contracts are accounted for as derivative instruments; for additional details related to our foreign currency exchange contracts, please see “Note 10—Derivative Instruments” to the condensed consolidated financial statements included in this report.


50


We use foreign exchange forward contracts to protect our forecasted U.S. dollar-equivalent earnings from adverse changes in foreign currency exchange rates. These hedging contracts reduce, but do not entirely eliminate, the impact of adverse currency exchange rate movements. We designate these contracts as cash flow hedges for accounting purposes. The derivative’s gain or loss is initially reported as a component of accumulated other comprehensive income ("AOCI") and subsequently reclassified into revenue in the same period the forecasted transaction affects earnings.

We considered the historical trends in currency exchange rates and determined that it was reasonably possible that changes in exchange rates of 20% for all currencies could be experienced in the near term. If the U.S. dollar weakened by 20% at March 31, 2018 and December 31, 2017, the amount recorded in AOCI related to our foreign currency exchange forward contracts, before taxes, would have been approximately $668 million and $536 million lower, respectively. If the U.S. dollar strengthened by 20% at March 31, 2018 and December 31, 2017, the amount recorded in AOCI related to our foreign currency exchange forward contracts, before taxes, would have been approximately $668 million and $536 million higher, respectively.

We have an additional foreign exchange management program whereby we use foreign currency exchange contracts to offset the foreign currency exchange risk on our assets and liabilities denominated in currencies other than the functional currency of our subsidiaries. These contracts are not designated as hedging instruments and reduce, but do not entirely eliminate, the impact of currency exchange rate movements on our assets and liabilities. The foreign currency gains and losses on our assets and liabilities are recorded in other income (expense), net, and are offset by the gains and losses on the foreign currency exchange contracts.

Adverse changes in exchange rates of 20% for all currencies would have resulted in an adverse impact on income before income taxes of approximately $261 million and $243 million at March 31, 2018 and December 31, 2017, respectively, without considering the offsetting effect of hedging. Foreign currency exchange contracts in place as of March 31, 2018 would have positively impacted income before income taxes by approximately $227 million, resulting in a net negative impact of approximately $34 million. Foreign currency exchange contracts in place as of December 31, 2017 would have positively impacted income before income taxes by approximately $211 million, resulting in a net negative impact of approximately $32 million. These reasonably possible adverse changes in exchange rates of 20% were applied to total monetary assets and liabilities denominated in currencies other than the functional currencies of our subsidiaries at the balance sheet dates to compute the adverse impact these changes would have had on our income before income taxes in the near term.

Investment Risk

As of March 31, 2018 and December 31, 2017, our equity investments totaled $88 million, which represented approximately 1% of our total cash and investment portfolio and were primarily related to minority equity interests in companies that are not publicly traded. We did not hold any marketable equity instruments. We review our investments for impairment when events and circumstances indicate a decline in fair value of such assets below carrying value is other-than-temporary. Our analysis includes a review of recent operating results and trends, recent sales and acquisitions of the securities in which we have invested and other publicly available data.

Item 4: Controls and Procedures

(a) Evaluation of disclosure controls and procedures. Based on the evaluation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) required by Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, our Chief Executive Officer and our Chief Financial Officer have concluded that as of the end of the period covered by this report, our disclosure controls and procedures were effective.

(b) Changes in internal controls. There were no changes in our internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.




51


PART II: OTHER INFORMATION

Item 1: Legal Proceedings

The information set forth under “Note 13—Commitments and Contingencies—Litigation and Regulatory Matters” to the condensed consolidated financial statements included in Part I, Item 1 of this report is incorporated herein by reference.

Item 1A: Risk Factors

We are subject to various risks and uncertainties, which could materially affect our business, results of operations, financial condition, and future results and the trading price of our common stock. You should carefully read the following information together with the information appearing in Part I, Item 1A, Risk Factors in our 2017 Form 10-K.  The following information supplements and, to the extent inconsistent, supersedes some of the information appearing in the Risk Factors section of our 2017 Form 10-K. These risk factors, as well as our condensed consolidated financial statements and notes thereto and the other information appearing in this report, should be reviewed carefully for important information regarding risks that affect us.

Our business is subject to cyberattacks and security and privacy breaches.

Our business involves the collection, storage, processing and transmission of customers’ personal data, including financial information and information about how they interact with our Payments Platform. In addition, a significant number of our customers authorize us to bill their payment card or bank accounts directly for all transaction and other fees charged by us. We have built our reputation on the premise that our Payments Platform offers customers a more secure way to make payments. An increasing number of organizations, including large merchants and businesses, other large technology companies, financial institutions, and government institutions, have disclosed breaches of their information security systems, some of which have involved sophisticated and highly targeted attacks, including on their websites and infrastructure.

The techniques used to obtain unauthorized, improper or illegal access to our systems, our data or customers' data, disable or degrade service, or sabotage systems are constantly evolving, may be difficult to detect quickly, and often are not recognized until launched against a target. We expect that unauthorized parties will continue to attempt to gain access to our systems or facilities through various means, including hacking into our systems or facilities or those of our customers, partners or vendors, or attempting to fraudulently induce (often through spear phishing attacks) our employees, customers, partners, vendors or other users of our systems into disclosing user names, passwords, payment card information, or other sensitive information, which may in turn be used to access our information technology systems. Certain efforts may be state-sponsored and supported by significant financial and technological resources, making them even more sophisticated and difficult to detect. We believe that PayPal is a particularly attractive target for such breaches and attacks due to our name and brand recognition and the widespread adoption and use of our products and services. Although we have developed systems and processes designed to protect our data and customer data and to prevent data loss and other security breaches, and expect to continue to expend significant resources to bolster these protections, these security measures cannot provide absolute security. Our information technology and infrastructure may be vulnerable to cyberattacks or security breaches, and third parties may be able to access our customers’ personal or proprietary information and payment card data that are stored on or accessible through those systems. We have experienced from time to time, and may experience in the future, breaches of our security measures due to human error, malfeasance, system errors or vulnerabilities, or other irregularities. Actual or perceived breaches of our security could interrupt our operations, result in our systems or services being unavailable, result in improper disclosure of data, materially harm our reputation and brands, result in significant regulatory scrutiny and legal and financial exposure, cause us to incur significant remediation costs, lead to loss of customer confidence in, or decreased use of, our products and services, divert the attention of management from the operation of our business, result in significant compensation or contractual penalties from us to our customers and their business partners as a result of losses to them or claims by them, and adversely affect our business and results of operations. In addition, any cyberattacks or data security breaches affecting companies that we acquire or our customers, partners or vendors (including data center and cloud computing providers) could have similar negative effects. See "Note 13—Commitments and Contingencies" to our consolidated financial statements for disclosure relating to the suspension of operations of TIO Networks ("TIO") (which we acquired in July 2017) as part of an ongoing investigation of security vulnerability of the TIO platform. Actual or perceived vulnerabilities or data breaches have led and may lead to claims against us.

In addition, under payment card rules and our contracts with our card processors, if there is a breach of payment card information that we store, or that is stored by our direct payment card processing customers, we could be liable to the payment card issuing banks for their cost of issuing new cards and related expenses. We also expect to expend significant additional resources to protect against security or privacy breaches, and may be required to redress problems caused by breaches. Financial services regulators in various jurisdictions, including the U.S. and the EU, have implemented authentication requirements for banks and payment processors intended to reduce online fraud, which could impose significant costs, require us to change our business practices,

52


make it more difficult for new customers to join PayPal, and reduce the ease of use of our products, which could harm our business. Additionally, while we maintain insurance policies, they may not be adequate to reimburse us for losses caused by security breaches.

Systems failures and resulting interruptions in the availability of our websites, applications, products or services could harm our business.

Our systems and those of our services providers and partners may experience service interruptions or degradation because of hardware and software defects or malfunctions, computer denial-of-service and other cyberattacks, human error, earthquakes, hurricanes, floods, fires, natural disasters, power losses, disruptions in telecommunications services, fraud, military or political conflicts, terrorist attacks, computer viruses or other malware, or other events. We have experienced from time to time, and may experience in the future, disruptions to our systems due to break-ins, sabotage, and intentional acts of vandalism. Some of our systems are not fully redundant, and our disaster recovery planning may not be sufficient for all eventualities. In addition, as a provider of payments solutions, we are subject to heightened scrutiny by regulators that may require specific business continuity, resiliency and disaster recovery plans, and more rigorous testing of such plans, which may be costly and time-consuming and may divert our resources from other business priorities.

We have experienced and expect to continue to experience system failures, denial of service attacks, and other events or conditions from time to time that interrupt the availability, or reduce or adversely affect the speed or functionality of our products and services. These events have resulted and likely will result in loss of revenue. A prolonged interruption in the availability or reduction in the availability, speed or functionality of our products and services could materially harm our business. Frequent or persistent interruptions in our services could cause current or potential customers to believe that our systems are unreliable, leading them to switch to our competitors or to avoid or reduce the use of our products and services, and could permanently harm our reputation and brands. Moreover, if any system failure or similar event results in damages to our customers or their business partners, these customers or partners could seek significant compensation or contractual penalties from us for their losses, and those claims, even if unsuccessful, would likely be time-consuming and costly for us to address, and could have other consequences described in this “Risk Factors” section under the caption “Our business is subject to cyberattacks and security and privacy breaches.”

Our Payments Platform has experienced and may in the future experience intermittent unavailability. The full-time availability and expeditious delivery of our products and services is critical to our goal of gaining widespread acceptance among consumers and merchants for digital payments. We have undertaken certain system upgrades and re-platforming efforts designed to improve our reliability and speed. These efforts are costly and time-consuming, involve significant technical risk and may divert our resources from new features and products, and there can be no guarantee that these efforts will succeed. Because we are a regulated financial institution in certain jurisdictions, frequent or persistent site interruptions could lead to regulatory scrutiny, significant fines and penalties, and mandatory and costly changes to our business practices, and ultimately could cause us to lose existing licenses that we need to operate or prevent or delay us from obtaining additional licenses that may be required for our business.

We also rely on facilities, components and services supplied by third parties, including data center facilities and cloud storage services. If these third parties cease to provide the facilities or services, experience operational interference or disruptions, breach their agreements with us, or fail to perform their obligations and meet our expectations, our operations could be disrupted or otherwise negatively affected, which could result in customer dissatisfaction and damage to our reputation and brands, and materially and adversely affect our business. We do not carry business interruption insurance sufficient to compensate us for all losses that may result from interruptions in our service as a result of systems failures and similar events.

In addition, we are continually improving and upgrading our information systems and technologies. Implementation of new systems and technologies is complex, expensive and time-consuming. If we fail to timely and successfully implement new information systems and technologies, or improvements or upgrades to existing information systems and technologies, or if such systems and technologies do not operate as intended, this could have an adverse impact on our business, internal controls (including internal controls over financial reporting), results of operations and financial condition.


53


Our business is subject to extensive government regulation and oversight, as well as extensive, complex, overlapping and frequently changing rules, regulations and legal interpretations.

Our business is subject to extensive government regulation and oversight. For a discussion of how government regulation impacts key aspects of our business, please see Item 1 “Business—Government Regulation” in our 2017 Form 10-K. In addition, some of the risks relating to government regulation and oversight of our business are discussed in Item 1A “Risk Factors” in our 2017 Form 10-K under a risk factor captioned “Our business is subject to extensive government regulation and oversight, as well as extensive, complex, overlapping and frequently changing rules, regulations and legal interpretations”. The information appearing below under the captions “Payments Regulation” and “Privacy and Protection of User Data” supplements and supersedes the information appearing in the same captions in that risk factor in our 2017 Form 10-K but it does not supersede any of the other information in that risk factor. Accordingly, for additional information regarding some of the risks resulting from government regulation and oversight of our business, please also see the information under the other captions in that risk factor in our 2017 Form 10-K.

Payments Regulation

In the U.S., PayPal, Inc. has obtained licenses to operate as a money transmitter (or its equivalent) in the states where it is required, as well as in the District of Columbia, the U.S. Virgin Islands and Puerto Rico. These licenses include not only the PayPal branded products and services in these states, but also our Braintree, Venmo, Xoom and TIO branded products and services. As a licensed money transmitter, PayPal is subject to restrictions with respect to the investment of customer funds, reporting requirements, bonding requirements and inspection by state regulatory agencies. Accordingly, if we violate these laws or regulations, we could be subject to liability and/or additional restrictions, forced to cease doing business with residents of certain states, forced to change our business practices or required to obtain additional licenses or regulatory approvals, which could impose substantial costs.

While we currently allow our customers with payment cards to send payments from approximately 200 markets, we allow customers in only approximately half of those markets (including the U.S.) to also receive payments, in some cases with significant restrictions on the manner in which customers can withdraw funds. These limitations may adversely affect our ability to grow our business in these markets.

We provide our services to customers in the EU through PayPal (Europe), our wholly-owned subsidiary that is licensed and subject to regulation as a credit institution in Luxembourg. Accordingly, PayPal (Europe) is subject to significant fines or other enforcement action if it violates the disclosure, reporting, anti-money laundering, capitalization, fund management, corporate governance, privacy, data protection, information security, banking secrecy, taxation, sanctions, or other requirements imposed on Luxembourg banks. In addition, EU laws and regulations can be subject to different and potentially inconsistent interpretations by the countries that are members of the EU, which can make compliance more costly and operationally difficult to manage. Moreover, the countries that are EU members may each have different and potentially inconsistent domestic regulations implementing European Directives, including the EU Payment Services Directive and the E-Money Directive, which could make compliance more costly and operationally difficult to manage. The Revised Payment Services Directive (“PSD2”) entered into force in January 2016 and is in the process of being implemented into national legislation, with certain requirements effective January 13, 2018. The implementation of the PSD2 may negatively affect our business. PSD2 seeks to enable new payment models whereby a newly formed category of regulated payment provider would be able to access bank and payment accounts (including PayPal accounts) for the purposes of accessing account information or initiating a payment on behalf of a customer. Such access could subject us to data security and other legal and financial risks and could create new competitive forces and new types of competitors in the European payments market. PSD2 seeks to regulate more online platforms that handle payments for their sellers. PayPal merchants with affected business models which are not licensed, or which do not benefit from exemptions or integrate a compliant marketplaces solution may not be able to offer PayPal products in the future. PSD2 also imposes new standards for payment security and strong customer authentication that may make it more difficult and time consuming to carry out a PayPal transaction, which may adversely impact PayPal’s customer value proposition and its European business.

Finally, if the business activities of PayPal (Europe) exceed certain thresholds, or if the European Central Bank (“ECB”) determines that PayPal (Europe) is a significant supervised entity or that some activity of PayPal (Europe) is deemed subject to oversight by the ECB, PayPal (Europe) could become directly regulated by the ECB in addition to the Luxembourg regulator, the Commission de Surveillance du Secteur Financier (the "CSSF"), as its national supervisor, which could subject us to additional requirements and would likely increase compliance costs.

In Australia, we serve our customers through PayPal Australia Pty. Ltd. (“PayPal Australia”), which is licensed by the Australian Securities and Investments Commission as a provider of a non-cash payment product and by the Australian Prudential Regulation Authority as a purchased payment facility provider, which is a type of authorized depository institution. Accordingly, PayPal Australia is subject to significant fines or other enforcement action if it violates the product disclosure, reporting, anti-money

54


laundering, capital requirements, privacy, corporate governance or other requirements imposed on Australian depository institutions.

In certain other markets outside the U.S., we are locally regulated and hold payments licenses. For example, in Hong Kong, we serve our customers through a Hong Kong subsidiary, which is licensed by the Hong Kong Monetary Authority as an issuer of stored value facility (“SVF Licensee”). In Russia, we serve our customers through a Russian subsidiary which operates under a license of the Central Bank of Russia as a non-credit banking institution. In such markets, we could be subject to significant fines or other enforcement action if we violate the reporting, anti-money laundering, capital requirements, privacy, corporate governance, risk management, float management, and/or any other requirements imposed on license holders.

In many of the other markets in which we do business, we serve our customers through PayPal Pte. Ltd., our wholly-owned subsidiary based in Singapore. PayPal Pte. Ltd. is supervised by the Monetary Authority of Singapore and designated as a holder of a stored value facility, but does not hold a remittance license. As a result, PayPal Pte. Ltd. is not able to offer outbound remittance payments (including donations to charities) from Singapore, and can only offer payments for the purchase of goods and services in Singapore. In many of the markets (other than Singapore) served by PayPal Pte. Ltd., it is unclear and uncertain whether our Singapore-based service is subject only to Singapore law or, if it is subject to the application of local laws, whether such local laws would require a payment processor like us to be licensed as a payments service, bank, financial institution or otherwise.

We are also subject to regulation in other markets in which we do business, and we have been and expect to continue to be required to apply for various licenses, certifications and regulatory approvals in a number of the countries where we provide our services. There can be no assurance that we will be able to obtain any such licenses, certifications, and approvals. In addition, there are substantial costs and potential product changes involved in maintaining such licenses, certifications, and approvals, and we could be subject to fines or other enforcement action if we are found to violate disclosure, reporting, anti-money laundering, capitalization, corporate governance or other requirements of such licenses. These factors could impose substantial additional costs and involve considerable delay to the development or provision of our products or services, or could require significant and costly operational changes or prevent us from providing our products or services in a given market.

In many countries, it may not be clear whether we are required to be licensed as a payment services provider, bank, financial institution or otherwise. In such markets, we may rely on local banks to process payments and conduct foreign exchange transactions in local currency. Local regulators may use their power to slow or halt payments to local merchants conducted through local banks or otherwise prohibit us from doing business in a country. Such regulatory actions or the need to obtain licenses, certifications or other regulatory approvals could impose substantial costs, involve considerable delay to the provision or development of our services, require significant and costly operational changes, impose restrictions, limitations, or additional requirements on our business, or prevent us from providing any products or services in a given market.

Privacy and Protection of User Data

We are subject to a number of laws, rules, directives and regulations (which we refer to as “privacy laws”) relating to the collection, use, retention, security, processing and transfer (which we refer to as “process”) of personally identifiable information about our customers and employees (which we refer to as “personal data”) in the countries where we operate. Much of the personal data that we process, especially financial information, is regulated by multiple privacy laws and, in some cases, the privacy laws of multiple jurisdictions. In many cases, these laws apply not only to third-party transactions, but also to transfers of information between or among us, our subsidiaries, and other parties with which we have commercial relationships.

Regulatory scrutiny of privacy, data protection, and the collection, use and sharing of data is increasing around the world. There is uncertainty associated with the legal and regulatory environment relating to privacy and data protection laws, which continue to develop in ways we cannot predict, including with respect to evolving technologies such as cloud computing. Privacy and data protection laws may be interpreted and applied inconsistently from country to country and impose inconsistent or conflicting requirements. Complying with varying jurisdictional requirements could increase the costs and complexity of compliance or require us to change our business practices in a manner adverse to our business, and violations of privacy and data protection-related laws may expose us to significant damage awards, fines and other penalties that could, individually or in the aggregate, materially harm our business and reputation. In addition, compliance with inconsistent privacy laws may restrict our ability to provide products and services to our customers.

PayPal relies on a variety of compliance methods to transfer personal data of EU citizens to the U.S., including reliance on Binding Corporate Rules (“BCRs”) for internal transfers of certain types of personal data and Standard Contractual Clauses (“SCCs”) as approved by the European Commission for transfers to and from third parties. PayPal must also ensure that third parties processing personal data of PayPal’s EU customers and/or employees outside of the EU have compliant transfer mechanisms. In October 2015, the European Court of Justice invalidated U.S.-EU Safe Harbor framework that was previously relied upon by some PayPal

55


vendors to lawfully transfer personal data of EU citizens to U.S. companies, and PayPal entered into SCCs with those third parties who had previously relied on the U.S.-EU Safe Harbor framework. In July 2016, the U.S. and EU authorities agreed on a replacement for Safe Harbor known as “Privacy Shield.” Both the Privacy Shield framework and SCCs are facing legal challenges in the European justice system. To the extent that the Privacy Shield or SCCs are invalidated, PayPal’s ability to process EU personal data with third parties outside of the EU could be jeopardized.

In 2016, the EU adopted a comprehensive overhaul of its data protection regime from the current national legislative approach to a single European Economic Area Privacy Regulation, the General Data Protection Regulation (“GDPR”), which comes into effect in May 2018. The proposed EU data protection regime expands the scope of the EU data protection law to all foreign companies processing personal data of EU residents, imposes a strict data protection compliance regime with severe penalties of up to the greater of 4% of worldwide turnover or €20 million, and includes new rights such as the “portability” of personal data. Although the GDPR will apply across the EU without a need for local implementing legislation, EU member states have the ability to interpret the GDPR opening clauses, which permit region-specific data protection legislation and have the potential to create inconsistencies on a country-by-country basis. We are evaluating the regulation and its requirements. Implementation of the GDPR could require us to change our business practices and increase the costs and complexity of compliance.

PayPal also faces additional potential challenges from local data protection authorities (“DPAs”). Because PayPal (Europe) is headquartered in Luxembourg and subject to regulation as a bank in that jurisdiction, we have relied on the “one-stop-shop” concept under which Luxembourg has been our lead data protection regulator in the EU. However, a 2015 European Court of Justice ruling (Weltimmo) affecting companies that do business in the EU potentially could make us subject to the local data protection laws or regulatory enforcement activities of the various EU member states in which we have established legal entities and which apply privacy laws that are different than, and may conflict with, Luxembourg privacy laws.

In addition, because of the large number of text messages, emails, phone calls and other communications we send or make to our customers for various business purposes, communication-related privacy laws that provide a specified monetary damage award or fine for each violation could result in particularly significant damage awards or fines. For example, under the Telephone Consumer Protection Act (“TCPA”), in the U.S., plaintiffs may seek actual monetary loss or statutory damages of $500 per violation, whichever is greater, and courts may treble the damage award for willful or knowing violations. We have been, and may continue to be subject to lawsuits (including class-action lawsuits) containing allegations that our business violated the TCPA. These lawsuits seek damages (including statutory damages) and injunctive relief, among other remedies. Given the large number of communications we send to our customers, a determination that there have been violations of the TCPA or other communications-based statutes could expose us to significant damage awards that could, individually or in the aggregate, materially harm our business.

Data protection, privacy and information security have become the subject of increasing public, media, regulatory and legislative concern. We post on our websites and applications our privacy policies and practices regarding the collection, use and disclosure of user data. Any failure, or perceived failure, by us to comply with our posted privacy policies, with applicable industry data protection or security standards, with any applicable regulatory requirements or orders, or with privacy, data protection, information security or consumer protection-related laws and regulations in one or more jurisdictions could result in proceedings or actions against us by governmental entities or others, including class action privacy litigation in certain jurisdictions, subject us to significant fines, penalties, judgments and negative publicity, require us to change our business practices, and increase the costs and complexity of compliance that could, individually or in the aggregate, materially harm our business. As noted above, we are also subject to the possibility of security and privacy breaches, which themselves may result in a violation of privacy laws.

Our business may be impacted by political events, war, terrorism, public health issues, natural disasters and other business interruptions.

War, terrorism, geopolitical uncertainties, trade restrictions, public health issues, natural disasters and other business interruptions have caused and could cause damage or disruption to the economy and commerce on a global, regional or country-specific basis, which could have a material adverse effect on our business, our customers, and companies with which we do business. Our business operations are subject to interruption by, among others, natural disasters, fire, power shortages, earthquakes, floods, nuclear power plant accidents and other industrial accidents, terrorist attacks and other hostile acts, labor disputes, public health issues and other events beyond our control. Such events could decrease demand for our products and services or make it difficult or impossible for us to deliver products and services to our customers. In the event of a natural disaster, we could incur significant losses, require substantial recovery time and experience significant expenditures in order to resume or maintain operations, which could have a material adverse impact on our business, financial condition and results of operations.


56


Item 2: Unregistered Sales of Equity Securities and Use of Proceeds
 
In April 2017, our Board of Directors authorized a stock repurchase program that provides for the repurchase of up to $5 billion of our common stock, with no expiration from the date of authorization. The stock repurchase program is intended to offset the impact of dilution from our equity compensation programs and, subject to market conditions and other factors, may also be used to make opportunistic repurchases of our common stock to reduce outstanding share count. Any share repurchases under our stock repurchase program may be made through open market transactions, block trades, privately negotiated transactions including accelerated share repurchase agreements or other means at times and in such amounts as management deems appropriate and will be funded from our working capital or other financing alternatives. However, any stock repurchases are subject to market conditions and other uncertainties and we cannot predict if or when any stock repurchases will be made. Moreover, we may terminate our stock repurchase program at any time without notice.

In February 2018, we entered into an accelerated share repurchase ("ASR") agreement with an unrelated third party financial institution to repurchase shares of our common stock. Under the terms of the ASR agreement, we made an upfront payment of approximately $1.0 billion to the third party financial institution and received approximately 12.8 million shares of our common stock during the term of the transaction, which ended in March 2018. The total number of shares of our common stock repurchased was based on the volume-weighted average share price of our common stock during the term of the transaction, less a discount and subject to adjustments pursuant to the terms of the applicable ASR agreement.

The stock repurchase activity under our April 2017 stock repurchase program during the three months ended March 31, 2018 is summarized as follows:
 
Total number of shares purchased
 
Average price
paid per share
(1)
 
Total number of shares purchased as part of publicly announced plans or programs
 
Approximate dollar value of shares that may yet be purchased under the plans or programs
 
(In millions, except per share amounts)
Balance as of January 2018
 
 
 
 
 
 
$
4,999

Period ended January 31, 2018

 

 

 
4,999

Period ended February 28, 2018
9.9

 
$
76.61

 
9.9

 
4,239

Period ended February 28, 2018 (ASR agreement)(2)
10.3

 
$
78.03

 
10.3

 
3,239

Period ended March 31, 2018
0.9

 
$
79.37

 
0.9

 
3,174

Period ended March 31, 2018 (ASR agreement)(2)
2.5

 
$
78.03

 
2.5

 
3,174

Balance as of March 31, 2018
23.6

 
 
 
23.6

 
$
3,174

(1) Average price paid per share for open market purchases includes broker commissions.
(2) Average price paid per share represents the volume-weighted average share price, less a discount and adjustments pursuant to the terms of the ASR agreement. We made an up-front payment of approximately $1.0 billion in connection with the ASR agreement in February 2018.

Item 3: Defaults Upon Senior Securities

Not applicable.

Item 4: Mine Safety Disclosures

Not applicable.

Item 5: Other Information

Not applicable.

Item 6: Exhibits

The information required by this Item is set forth in the Index of Exhibits that precedes the signature page of this Quarterly Report.

57


INDEX TO EXHIBITS
 
 
 
 
 
Certification of Registrant's Chief Executive Officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002.
 
Certification of Registrant's Chief Financial Officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002.
 
Certification of Registrant's Chief Executive Officer, as required by Section 906 of the Sarbanes-Oxley Act of 2002.
 
Certification of Registrant's Chief Financial Officer, as required by Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS
 
XBRL Instance Document
101.SCH
 
XBRL Taxonomy Extension Schema Document
101.CAL
 
XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF
 
XBRL Taxonomy Extension Definition Linkbase Document
101.LAB
 
XBRL Taxonomy Extension Label Linkbase Document
101.PRE
 
XBRL Taxonomy Extension Presentation Linkbase Document
 




58


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
 
PayPal Holdings, Inc.
 
 
Principal Executive Officer:
 
 
 
 
 
 
By:
/s/ Daniel H. Schulman
 
 
 
Daniel H. Schulman
 
 
 
President and Chief Executive Officer
Date:
April 26, 2018
 
 
 
Principal Financial Officer:
 
 
 
 
 
 
By:
/s/ John D. Rainey
 
 
 
John D. Rainey
 
                                                                                       
 
Executive Vice President, Chief Financial Officer
Date:
April 26, 2018
 
 
 
Principal Accounting Officer:
 
 
 
 
 
 
By:
/s/ Aaron A. Anderson
 
 
 
Aaron A. Anderson
 
 
 
Vice President, Chief Accounting Officer
Date:
April 26, 2018
 
 


59
EX-31.01 2 exhibit3101ceoq12018.htm EXHIBIT 31.01 Exhibit


Exhibit 31.01

CERTIFICATION OF CHIEF EXECUTIVE OFFICER,
AS REQUIRED BY SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002.

I, Daniel H. Schulman, certify that:

1. I have reviewed this report on Form 10-Q of PayPal Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
 
 
/s/ Daniel H. Schulman
 
Daniel H. Schulman
 
President, Chief Executive Officer and Director
                                                                   
(Principal Executive Officer)

Date: April 26, 2018


EX-31.02 3 exhibit3102cfoq12018.htm EXHIBIT 31.02 Exhibit


Exhibit 31.02

CERTIFICATION OF CHIEF FINANCIAL OFFICER,
AS REQUIRED BY SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002.

I, John D. Rainey, certify that:

1. I have reviewed this report on Form 10-Q of PayPal Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 
/s/ John D. Rainey
 
John D. Rainey
 
Executive Vice President, Chief Financial Officer
                                                                                          
(Principal Financial Officer)

Date: April 26, 2018


EX-32.01 4 exhibit3201ceoq12018.htm EXHIBIT 32.01 Exhibit


Exhibit 32.01

CERTIFICATION OF CHIEF EXECUTIVE OFFICER,
AS REQUIRED BY SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002.

I, Daniel H. Schulman, hereby certify pursuant to 18 U.S.C. Section 1350 adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 that:

(i) The accompanying quarterly report on Form 10-Q for the quarter ended March 31, 2018 fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934, as amended; and

(ii) The information contained in such report fairly presents, in all material respects, the financial condition and results of operations of PayPal Holdings, Inc.
 
 
/s/ Daniel H. Schulman
 
Daniel H. Schulman
 
President, Chief Executive Officer and Director
                                                                   
(Principal Executive Officer)

Date: April 26, 2018

The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of this report.



EX-32.02 5 exhibit3202cfoq12018.htm EXHIBIT 32.02 Exhibit


Exhibit 32.02

CERTIFICATION OF CHIEF FINANCIAL OFFICER,
AS REQUIRED BY SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002.

I, John D. Rainey, hereby certify pursuant to 18 U.S.C. Section 1350 adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 that:

(i) The accompanying quarterly report on Form 10-Q for the quarter ended March 31, 2018 fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934, as amended; and

(ii) The information contained in such report fairly presents, in all material respects, the financial condition and results of operations of PayPal Holdings, Inc.
 
 
/s/ John D. Rainey
 
John D. Rainey
 
Executive Vice President, Chief Financial Officer
                                                                                          
(Principal Financial Officer)

Date: April 26, 2018

The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of this report.



EX-101.INS 6 pypl-20180331.xml XBRL INSTANCE DOCUMENT 0001633917 2018-01-01 2018-03-31 0001633917 2018-04-20 0001633917 2018-03-31 0001633917 2017-12-31 0001633917 2017-01-01 2017-03-31 0001633917 us-gaap:CashEquivalentsMember 2017-03-31 0001633917 2017-03-31 0001633917 2016-12-31 0001633917 pypl:FundsReceivableAndCustomerAccountsMember 2017-03-31 0001633917 pypl:FundsReceivableAndCustomerAccountsMember 2018-03-31 0001633917 us-gaap:CashEquivalentsMember 2018-03-31 0001633917 pypl:CountriesOtherThanUSAndUnitedKingdomMember 2018-01-01 2018-03-31 0001633917 pypl:OtherValueAddedServicesMember 2018-01-01 2018-03-31 0001633917 pypl:TransactionRevenueMember 2018-01-01 2018-03-31 0001633917 country:GB 2017-01-01 2017-03-31 0001633917 country:US 2018-01-01 2018-03-31 0001633917 pypl:TransactionRevenueMember 2017-01-01 2017-03-31 0001633917 pypl:OtherValueAddedServicesMember 2017-01-01 2017-03-31 0001633917 country:US 2017-01-01 2017-03-31 0001633917 country:GB 2018-01-01 2018-03-31 0001633917 pypl:CountriesOtherThanUSAndUnitedKingdomMember 2017-01-01 2017-03-31 0001633917 pypl:InterestFeesAndGainsEarnedOnLoanAndInterestReceivablesNetAndHeldForSalePortfolioHedgingGainsAndInterestEarnedOnCustomerBalancesMember 2017-01-01 2017-03-31 0001633917 pypl:InterestFeesAndGainsEarnedOnLoanAndInterestReceivablesNetAndHeldForSalePortfolioHedgingGainsAndInterestEarnedOnCustomerBalancesMember 2018-01-01 2018-03-31 0001633917 us-gaap:OtherIntangibleAssetsMember 2018-03-31 0001633917 us-gaap:CustomerListsMember 2018-03-31 0001633917 us-gaap:MarketingRelatedIntangibleAssetsMember 2018-01-01 2018-03-31 0001633917 us-gaap:MarketingRelatedIntangibleAssetsMember 2017-12-31 0001633917 us-gaap:CustomerListsMember 2018-01-01 2018-03-31 0001633917 us-gaap:TechnologyBasedIntangibleAssetsMember 2017-12-31 0001633917 us-gaap:OtherIntangibleAssetsMember 2017-01-01 2017-12-31 0001633917 us-gaap:TechnologyBasedIntangibleAssetsMember 2018-03-31 0001633917 us-gaap:CustomerListsMember 2017-12-31 0001633917 us-gaap:OtherIntangibleAssetsMember 2017-12-31 0001633917 us-gaap:MarketingRelatedIntangibleAssetsMember 2018-03-31 0001633917 us-gaap:MarketingRelatedIntangibleAssetsMember 2017-01-01 2017-12-31 0001633917 us-gaap:TechnologyBasedIntangibleAssetsMember 2018-01-01 2018-03-31 0001633917 us-gaap:CustomerListsMember 2017-01-01 2017-12-31 0001633917 us-gaap:TechnologyBasedIntangibleAssetsMember 2017-01-01 2017-12-31 0001633917 us-gaap:OtherIntangibleAssetsMember 2018-01-01 2018-03-31 0001633917 us-gaap:NonUsMember 2018-03-31 0001633917 us-gaap:NonUsMember 2017-12-31 0001633917 country:US 2017-12-31 0001633917 country:US 2018-03-31 0001633917 pypl:FundsReceivableAndCustomerAccountsMember us-gaap:CorporateDebtSecuritiesMember 2017-12-31 0001633917 pypl:FundsReceivableAndCustomerAccountsMember 2017-12-31 0001633917 pypl:FundsReceivableAndCustomerAccountsMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2017-12-31 0001633917 pypl:FundsReceivableAndCustomerAccountsMember 2018-03-31 0001633917 pypl:FairValueOptionForeignCurrencyDenominatedInvestmentsMember 2018-03-31 0001633917 pypl:FundsReceivableAndCustomerAccountsMember pypl:FairValueOptionForeignCurrencyDenominatedInvestmentsMember 2017-01-01 2017-03-31 0001633917 pypl:FundsReceivableAndCustomerAccountsMember pypl:FairValueOptionForeignCurrencyDenominatedInvestmentsMember 2018-01-01 2018-03-31 0001633917 pypl:FairValueOptionForeignCurrencyDenominatedInvestmentsMember 2017-12-31 0001633917 pypl:FundsReceivableAndCustomerAccountsMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2018-03-31 0001633917 pypl:FundsReceivableAndCustomerAccountsMember us-gaap:CorporateDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:CashAndCashEquivalentsMember 2018-03-31 0001633917 us-gaap:CorporateDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:CorporateDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:CashAndCashEquivalentsMember 2017-12-31 0001633917 us-gaap:BankTimeDepositsMember 2018-03-31 0001633917 us-gaap:BankTimeDepositsMember 2017-12-31 0001633917 pypl:FundsReceivableMember 2018-03-31 0001633917 pypl:FundsReceivableMember 2017-12-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:BankTimeDepositsMember 2017-12-31 0001633917 us-gaap:ShortTermInvestmentsMember 2017-12-31 0001633917 us-gaap:OtherLongTermInvestmentsMember 2017-12-31 0001633917 us-gaap:OtherLongTermInvestmentsMember 2018-03-31 0001633917 us-gaap:FairValueMeasurementsNonrecurringMember 2018-03-31 0001633917 pypl:FairValueOptionForeignCurrencyDenominatedInvestmentsMember us-gaap:OtherNonoperatingIncomeExpenseMember 2017-01-01 2017-03-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:BankTimeDepositsMember 2018-03-31 0001633917 pypl:FairValueOptionForeignCurrencyDenominatedInvestmentsMember us-gaap:OtherNonoperatingIncomeExpenseMember 2018-01-01 2018-03-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:CorporateDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:CorporateDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:CorporateDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:CorporateDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-03-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-03-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:FairValueMeasurementsRecurringMember 2018-03-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2018-03-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2018-03-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2018-03-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-03-31 0001633917 us-gaap:MinimumMember 2018-01-01 2018-03-31 0001633917 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:BankTimeDepositsMember 2018-03-31 0001633917 us-gaap:FairValueMeasurementsNonrecurringMember 2017-12-31 0001633917 us-gaap:FairValueMeasurementsNonrecurringMember pypl:CashAndFundsReceivableMember 2017-12-31 0001633917 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:MaximumMember 2018-01-01 2018-03-31 0001633917 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:BankTimeDepositsMember 2017-12-31 0001633917 us-gaap:MaximumMember 2018-01-01 2018-03-31 0001633917 us-gaap:FairValueMeasurementsNonrecurringMember pypl:CashAndFundsReceivableMember 2018-03-31 0001633917 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2017-12-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:FairValueMeasurementsRecurringMember 2017-12-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2017-12-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2017-12-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2017-12-31 0001633917 us-gaap:OtherLongTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2017-12-31 0001633917 us-gaap:ShortTermInvestmentsMember us-gaap:FairValueMeasurementsRecurringMember 2017-12-31 0001633917 us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2017-01-01 2017-03-31 0001633917 us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-01-01 2018-03-31 0001633917 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2017-01-01 2017-03-31 0001633917 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-01-01 2018-03-31 0001633917 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember us-gaap:NonoperatingIncomeExpenseMember 2018-01-01 2018-03-31 0001633917 us-gaap:NondesignatedMember 2018-01-01 2018-03-31 0001633917 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember us-gaap:SalesMember 2018-01-01 2018-03-31 0001633917 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember us-gaap:SalesMember 2017-01-01 2017-03-31 0001633917 us-gaap:NondesignatedMember 2017-01-01 2017-03-31 0001633917 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember us-gaap:NonoperatingIncomeExpenseMember 2017-01-01 2017-03-31 0001633917 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2017-03-31 0001633917 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2016-12-31 0001633917 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-03-31 0001633917 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2017-12-31 0001633917 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2017-12-31 0001633917 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-03-31 0001633917 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2017-12-31 0001633917 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2018-03-31 0001633917 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2018-03-31 0001633917 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2017-12-31 0001633917 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2018-03-31 0001633917 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2017-12-31 0001633917 us-gaap:OtherCurrentLiabilitiesMember 2018-03-31 0001633917 us-gaap:OtherCurrentLiabilitiesMember 2017-12-31 0001633917 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2017-12-31 0001633917 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember 2018-03-31 0001633917 pypl:FICOScore680To759Member us-gaap:ConsumerPortfolioSegmentMember 2017-12-31 0001633917 pypl:FICOScoreGreaterThan760Member us-gaap:ConsumerPortfolioSegmentMember 2017-12-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember 2017-12-31 0001633917 pypl:FICOScoreGreaterThan760Member us-gaap:ConsumerPortfolioSegmentMember 2018-03-31 0001633917 pypl:FICOScoreLessThanOrEqualTo599Member us-gaap:ConsumerPortfolioSegmentMember 2018-03-31 0001633917 pypl:FICOScore680To759Member us-gaap:ConsumerPortfolioSegmentMember 2018-03-31 0001633917 pypl:FICOScore600To679Member us-gaap:ConsumerPortfolioSegmentMember 2018-03-31 0001633917 pypl:FICOScoreLessThanOrEqualTo599Member us-gaap:ConsumerPortfolioSegmentMember 2017-12-31 0001633917 pypl:FICOScore600To679Member us-gaap:ConsumerPortfolioSegmentMember 2017-12-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember 2018-03-31 0001633917 us-gaap:CommercialPortfolioSegmentMember 2017-12-31 0001633917 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2017-12-31 0001633917 us-gaap:CommercialPortfolioSegmentMember pypl:FinancingReceivablesGreaterThan180DaysPastDueWithFivePercentPaymentInLast90DaysMember 2017-12-31 0001633917 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2017-12-31 0001633917 us-gaap:CommercialPortfolioSegmentMember pypl:FinancingReceivables90To180DaysPastDueMember 2017-12-31 0001633917 pypl:LoansAndInterestReceivableHeldForSaleMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2017-12-31 0001633917 pypl:LoansAndInterestReceivableHeldForSaleMember us-gaap:ConsumerPortfolioSegmentMember pypl:FinancingReceivables90To180DaysPastDueMember 2017-12-31 0001633917 pypl:LoansAndInterestReceivableHeldForSaleMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2017-12-31 0001633917 pypl:LoansAndInterestReceivableHeldForSaleMember us-gaap:ConsumerPortfolioSegmentMember 2017-12-31 0001633917 us-gaap:CommercialPortfolioSegmentMember pypl:PayPalWorkingCapitalProductsMember 2017-12-31 0001633917 us-gaap:CommercialPortfolioSegmentMember pypl:SwiftBusinessLoanProductsMember us-gaap:MinimumMember 2018-01-01 2018-03-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember country:US 2017-12-31 0001633917 us-gaap:CommercialPortfolioSegmentMember pypl:PayPalWorkingCapitalProductsMember us-gaap:MinimumMember 2018-01-01 2018-03-31 0001633917 pypl:FICOScoreGreaterThan680Member us-gaap:ConsumerPortfolioSegmentMember 2018-03-31 0001633917 us-gaap:CommercialPortfolioSegmentMember pypl:SwiftBusinessLoanProductsMember 2018-01-01 2018-03-31 0001633917 us-gaap:CommercialPortfolioSegmentMember pypl:PayPalWorkingCapitalProductsMember us-gaap:MaximumMember 2018-01-01 2018-03-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember 2018-01-01 2018-03-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember country:US 2018-03-31 0001633917 pypl:FICOScoreGreaterThan680Member us-gaap:ConsumerPortfolioSegmentMember 2017-12-31 0001633917 us-gaap:CommercialPortfolioSegmentMember pypl:PayPalWorkingCapitalProductsMember 2018-03-31 0001633917 pypl:LoansAndInterestReceivableHeldForSaleMember us-gaap:ConsumerPortfolioSegmentMember 2018-03-31 0001633917 pypl:OtherConsumerCreditProductsMember us-gaap:ConsumerPortfolioSegmentMember 2018-03-31 0001633917 us-gaap:CommercialPortfolioSegmentMember 2018-03-31 0001633917 pypl:OtherConsumerCreditProductsMember us-gaap:ConsumerPortfolioSegmentMember 2017-12-31 0001633917 us-gaap:CommercialPortfolioSegmentMember pypl:SwiftBusinessLoanProductsMember us-gaap:MaximumMember 2018-01-01 2018-03-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2018-03-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember pypl:FinancingReceivables90To180DaysPastDueMember 2018-03-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2018-03-31 0001633917 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2018-03-31 0001633917 us-gaap:CommercialPortfolioSegmentMember pypl:FinancingReceivablesGreaterThan180DaysPastDueWithFivePercentPaymentInLast90DaysMember 2018-03-31 0001633917 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2018-03-31 0001633917 us-gaap:CommercialPortfolioSegmentMember pypl:FinancingReceivables90To180DaysPastDueMember 2018-03-31 0001633917 pypl:LoansAndInterestReceivableHeldForSaleMember us-gaap:ConsumerPortfolioSegmentMember pypl:FinancingReceivables90To180DaysPastDueMember 2018-03-31 0001633917 pypl:LoansAndInterestReceivableHeldForSaleMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2018-03-31 0001633917 pypl:LoansAndInterestReceivableHeldForSaleMember us-gaap:ConsumerPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2018-03-31 0001633917 us-gaap:LoansReceivableMember us-gaap:CommercialPortfolioSegmentMember 2017-01-01 2017-03-31 0001633917 us-gaap:FinanceReceivablesMember us-gaap:CommercialPortfolioSegmentMember 2018-01-01 2018-03-31 0001633917 us-gaap:FinanceReceivablesMember us-gaap:CommercialPortfolioSegmentMember 2016-12-31 0001633917 us-gaap:CommercialPortfolioSegmentMember 2017-01-01 2017-03-31 0001633917 us-gaap:CommercialPortfolioSegmentMember 2016-12-31 0001633917 us-gaap:CommercialPortfolioSegmentMember 2018-01-01 2018-03-31 0001633917 us-gaap:FinanceReceivablesMember us-gaap:CommercialPortfolioSegmentMember 2017-01-01 2017-03-31 0001633917 us-gaap:LoansReceivableMember us-gaap:CommercialPortfolioSegmentMember 2018-01-01 2018-03-31 0001633917 us-gaap:LoansReceivableMember us-gaap:CommercialPortfolioSegmentMember 2017-03-31 0001633917 us-gaap:CommercialPortfolioSegmentMember 2017-03-31 0001633917 us-gaap:FinanceReceivablesMember us-gaap:CommercialPortfolioSegmentMember 2018-03-31 0001633917 us-gaap:FinanceReceivablesMember us-gaap:CommercialPortfolioSegmentMember 2017-12-31 0001633917 us-gaap:LoansReceivableMember us-gaap:CommercialPortfolioSegmentMember 2017-12-31 0001633917 us-gaap:FinanceReceivablesMember us-gaap:CommercialPortfolioSegmentMember 2017-03-31 0001633917 us-gaap:LoansReceivableMember us-gaap:CommercialPortfolioSegmentMember 2016-12-31 0001633917 us-gaap:LoansReceivableMember us-gaap:CommercialPortfolioSegmentMember 2018-03-31 0001633917 us-gaap:FinanceReceivablesMember us-gaap:ConsumerPortfolioSegmentMember 2018-03-31 0001633917 us-gaap:FinanceReceivablesMember us-gaap:ConsumerPortfolioSegmentMember 2016-12-31 0001633917 us-gaap:FinanceReceivablesMember us-gaap:ConsumerPortfolioSegmentMember 2017-12-31 0001633917 us-gaap:LoansReceivableMember us-gaap:ConsumerPortfolioSegmentMember 2018-03-31 0001633917 us-gaap:FinanceReceivablesMember us-gaap:ConsumerPortfolioSegmentMember 2018-01-01 2018-03-31 0001633917 us-gaap:FinanceReceivablesMember us-gaap:ConsumerPortfolioSegmentMember 2017-01-01 2017-03-31 0001633917 us-gaap:LoansReceivableMember us-gaap:ConsumerPortfolioSegmentMember 2017-03-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember 2017-03-31 0001633917 us-gaap:LoansReceivableMember us-gaap:ConsumerPortfolioSegmentMember 2018-01-01 2018-03-31 0001633917 us-gaap:LoansReceivableMember us-gaap:ConsumerPortfolioSegmentMember 2017-12-31 0001633917 us-gaap:LoansReceivableMember us-gaap:ConsumerPortfolioSegmentMember 2017-01-01 2017-03-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember 2017-01-01 2017-03-31 0001633917 us-gaap:LoansReceivableMember us-gaap:ConsumerPortfolioSegmentMember 2016-12-31 0001633917 us-gaap:FinanceReceivablesMember us-gaap:ConsumerPortfolioSegmentMember 2017-03-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember 2016-12-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2017-12-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember pypl:FinancingReceivables90To180DaysPastDueMember 2017-12-31 0001633917 us-gaap:ConsumerPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2017-12-31 0001633917 pypl:DelayedDrawTermLoanCreditFacilityMember us-gaap:UnsecuredDebtMember 2018-01-01 2018-03-31 0001633917 us-gaap:RevolvingCreditFacilityMember us-gaap:UnsecuredDebtMember 2015-09-30 0001633917 us-gaap:RevolvingCreditFacilityMember us-gaap:UnsecuredDebtMember 2018-03-31 0001633917 us-gaap:RevolvingCreditFacilityMember pypl:UncommittedCreditFacilitiesMember 2018-03-31 0001633917 us-gaap:MinimumMember pypl:AgentBanksPrimeRateTheFederalFundsEffectiveRateOrLondonInterbankOfferedRateLIBORMember 2015-07-01 2015-09-30 0001633917 us-gaap:BridgeLoanMember us-gaap:UnsecuredDebtMember 2015-09-30 0001633917 us-gaap:RevolvingCreditFacilityMember us-gaap:UnsecuredDebtMember 2015-07-01 2015-09-30 0001633917 us-gaap:MinimumMember us-gaap:LondonInterbankOfferedRateLIBORMember 2015-07-01 2015-09-30 0001633917 us-gaap:LetterOfCreditMember us-gaap:UnsecuredDebtMember 2015-09-30 0001633917 pypl:DelayedDrawTermLoanCreditFacilityMember us-gaap:UnsecuredDebtMember 2017-12-31 0001633917 us-gaap:MaximumMember us-gaap:LondonInterbankOfferedRateLIBORMember 2015-07-01 2015-09-30 0001633917 pypl:DelayedDrawTermLoanCreditFacilityMember us-gaap:UnsecuredDebtMember us-gaap:SubsequentEventMember 2018-04-05 2018-04-05 0001633917 pypl:DelayedDrawTermLoanCreditFacilityMember us-gaap:UnsecuredDebtMember 2017-10-01 2017-12-31 0001633917 pypl:DelayedDrawTermLoanCreditFacilityMember us-gaap:UnsecuredDebtMember 2018-03-31 0001633917 us-gaap:MaximumMember pypl:AgentBanksPrimeRateTheFederalFundsEffectiveRateOrLondonInterbankOfferedRateLIBORMember 2015-07-01 2015-09-30 0001633917 2018-01-18 2018-01-18 0001633917 us-gaap:MaximumMember us-gaap:SubsequentEventMember 2018-04-01 2018-04-30 0001633917 2018-03-30 2018-03-30 0001633917 2018-03-16 0001633917 us-gaap:MinimumMember us-gaap:SubsequentEventMember 2018-04-01 2018-04-30 0001633917 2017-12-01 0001633917 pypl:ProtectionProgramsMember us-gaap:MaximumMember 2018-03-31 0001633917 pypl:ProtectionProgramsMember us-gaap:MaximumMember 2017-12-31 0001633917 pypl:ProtectionProgramsMember 2017-12-31 0001633917 pypl:ProtectionProgramsMember 2018-03-31 0001633917 pypl:AcceleratedShareRepurchaseAgreementMember 2018-03-01 2018-03-31 0001633917 pypl:AcceleratedShareRepurchaseAgreementMember 2018-01-01 2018-03-31 0001633917 pypl:StockRepurchaseProgramMember 2017-04-30 0001633917 pypl:StockRepurchaseProgramMember 2018-01-01 2018-03-31 0001633917 pypl:StockRepurchaseProgramMember 2018-03-31 0001633917 pypl:AcceleratedShareRepurchaseAgreementMember 2018-03-31 0001633917 pypl:DepreciationAndAmortizationMember 2018-01-01 2018-03-31 0001633917 pypl:DepreciationAndAmortizationMember 2017-01-01 2017-03-31 0001633917 us-gaap:GeneralAndAdministrativeExpenseMember 2018-01-01 2018-03-31 0001633917 us-gaap:ResearchAndDevelopmentExpenseMember 2017-01-01 2017-03-31 0001633917 us-gaap:SellingAndMarketingExpenseMember 2017-01-01 2017-03-31 0001633917 pypl:CustomerSupportAndOperationsMember 2018-01-01 2018-03-31 0001633917 pypl:CustomerSupportAndOperationsMember 2017-01-01 2017-03-31 0001633917 us-gaap:GeneralAndAdministrativeExpenseMember 2017-01-01 2017-03-31 0001633917 us-gaap:SellingAndMarketingExpenseMember 2018-01-01 2018-03-31 0001633917 us-gaap:ResearchAndDevelopmentExpenseMember 2018-01-01 2018-03-31 0001633917 pypl:RestrictedStockUnitsRSUsAndPerformanceSharesMember 2018-01-01 2018-03-31 0001633917 pypl:RestrictedStockUnitsRSUsAndPerformanceSharesMember 2018-03-31 0001633917 pypl:RestrictedStockUnitsRSUsAndPerformanceSharesMember 2017-12-31 0001633917 us-gaap:PerformanceSharesMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2018-01-01 2018-03-31 0001633917 us-gaap:RestrictedStockUnitsRSUMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2018-01-01 2018-03-31 0001633917 us-gaap:PerformanceSharesMember us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2018-01-01 2018-03-31 0001633917 us-gaap:PerformanceSharesMember us-gaap:MinimumMember 2018-03-31 0001633917 us-gaap:PerformanceSharesMember us-gaap:MaximumMember 2018-03-31 0001633917 us-gaap:EmployeeStockOptionMember 2018-01-01 2018-03-31 0001633917 us-gaap:PerformanceSharesMember pypl:AnnualIncentivePlan2017Member 2018-01-01 2018-03-31 0001633917 us-gaap:EmployeeStockOptionMember 2018-03-31 0001633917 us-gaap:EmployeeSeveranceMember 2018-01-01 2018-03-31 0001633917 us-gaap:EmployeeSeveranceMember 2017-01-01 2017-03-31 0001633917 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-03-31 0001633917 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-03-31 0001633917 us-gaap:AccumulatedTranslationAdjustmentMember 2017-12-31 0001633917 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2017-12-31 0001633917 us-gaap:AccumulatedTranslationAdjustmentMember 2018-01-01 2018-03-31 0001633917 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-01-01 2018-03-31 0001633917 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-01-01 2018-03-31 0001633917 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0001633917 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-03-31 0001633917 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2017-12-31 0001633917 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-03-31 0001633917 us-gaap:AccumulatedTranslationAdjustmentMember 2018-03-31 0001633917 us-gaap:AccumulatedTranslationAdjustmentMember 2016-12-31 0001633917 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2016-12-31 0001633917 us-gaap:AccumulatedTranslationAdjustmentMember 2017-01-01 2017-03-31 0001633917 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2016-12-31 0001633917 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2017-01-01 2017-03-31 0001633917 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2016-12-31 0001633917 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-03-31 0001633917 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2017-01-01 2017-03-31 0001633917 us-gaap:AccumulatedTranslationAdjustmentMember 2017-03-31 0001633917 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2017-03-31 0001633917 us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2017-03-31 0001633917 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-01-01 2018-03-31 0001633917 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-03-31 0001633917 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2018-01-01 2018-03-31 0001633917 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2017-01-01 2017-03-31 0001633917 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember 2017-01-01 2017-03-31 0001633917 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2017-01-01 2017-03-31 pypl:customer iso4217:USD pypl:obligation pypl:borrowing iso4217:USD xbrli:shares xbrli:shares xbrli:pure pypl:plantiff pypl:segment false --12-31 Q1 2018 2018-03-31 10-Q 0001633917 1187386825 Large Accelerated Filer PayPal Holdings, Inc. PYPL 8308000000 2639000000 5669000000 9824000000 3309000000 6515000000 49000000 823000000 26000000 171000000 344000000 29000000 10000000 28000000 1100000000 28000000 1100000000 317000000 351000000 88000000 88000000 88000000 599 599 680 680 680 679 P180D P12M P9M P12M P3M 0.1 P180D 2378000000 2439000000 832000000 752000000 6401000000 2432000000 2474000000 812000000 804000000 6522000000 47000000 46000000 50000000 31000000 19742000000 20662000000 18242000000 8007000000 10200000000 8007000000 1400000000 4217000000 739000000 5387000000 1248000000 6651000000 19162000000 9424000000 9700000000 9424000000 1800000000 3792000000 373000000 5832000000 1129000000 8036000000 552000000 865000000 -567000000 -429000000 500000000 3 2100000000 3000000000 P3Y P30D P30D P75D 1600000 1 1 2 0.906 0.960 0.919 0.953 0.511 0.504 0.117 0.123 2 0 30871000 3000000 P60D P360D P60D P60D 300000000 305000000 987000000 1275000000 257000000 187000000 0 0 283000000 258000000 0 0 1781000000 1767000000 131000000 59000000 -111000000 -129000000 -142000000 -169000000 P3Y P1Y P5Y P3Y P3Y P1Y P5Y P3Y 14314000000 14287000000 147000000 30000000 2000000 42000000 45000000 28000000 38000000 4000000 59000000 64000000 44000000 209000000 129000000 139000000 27000000 30000000 6000000 0 131000000 -5000000 -68000000 59000000 -4000000 -55000000 -111000000 -12000000 -25000000 -129000000 -27000000 -23000000 -1000000 -2000000 -6000000 -10000000 40774000000 42322000000 32645000000 34742000000 13305000000 13305000000 15128000000 15128000000 4164000000 6470000000 529000000 5941000000 1764000000 98000000 2092000000 210000000 277000000 4227000000 7347000000 391000000 6956000000 1309000000 88000000 2336000000 494000000 317000000 3000000 0 0 0 2000000 0 1000000 0 1000000 0 0 0 1000000 0 0 0 8000000 5000000 0 5000000 7000000 0 1000000 0 2800000000 21000000 7000000 1000000 6000000 16000000 0 4000000 1000000 3400000000 4169000000 6475000000 529000000 5946000000 1769000000 98000000 163000000 2092000000 210000000 163000000 4247000000 7354000000 392000000 6962000000 1324000000 88000000 199000000 2340000000 495000000 199000000 6000000000 6400000000 207000000 206000000 4227000000 7347000000 2830000000 7292000000 2100000000 1800000000 1240000000 2883000000 2879000000 791000000 791000000 1104000000 1104000000 6119000000 5584000000 8285000000 8727000000 -535000000 442000000 0.0001 0.0001 4000000000 4000000000 1200000000 1183000000 0 0 327000000 484000000 0.625 1.625 0 1.00 0.0288 P5Y P364D 53000000 91000000 183000000 185000000 183000000 185000000 56000000 66000000 66000000 56000000 56000000 0 6000000 66000000 0 66000000 56000000 5000000 51000000 218000000 94000000 124000000 197000000 122000000 75000000 -152000000 -141000000 40000000 -40000000 0 -40000000 -44000000 -44000000 -6000000 -50000000 40000000 -44000000 -32000000 -62000000 218000000 218000000 197000000 197000000 38000000 70000000 56000000 52000000 P18M P1Y P1M 0.32 0.43 0.32 0.42 11000000 -7000000 0.12 0.07 0.35 0.21 3000000 7000000 15000000 6000000 40000000 8000000 3000000 40000000 28000000 265000000 31000000 305000000 3000000 37000000 29000000 291000000 32000000 328000000 7000000 7000000 6000000 52000000 57000000 59000000 63000000 266000000 9000000 11000000 6000000 72000000 41000000 83000000 47000000 283000000 0 0 2000000 10000000 2000000 10000000 0 0 2000000 0 2000000 0 2000000 32000000 10000000 104000000 12000000 136000000 2000000 3000000 21000000 39000000 23000000 42000000 5800000000 884000000 313000000 5994000000 1105000000 384000000 601000000 258000000 240000000 103000000 128000000 43000000 13000000 44000000 28000000 13000000 4000000 7000000 2000000 528000000 232000000 208000000 88000000 122000000 40000000 10000000 44000000 28000000 19000000 6000000 10000000 3000000 1162000000 563000000 196000000 188000000 215000000 1192000000 574000000 197000000 194000000 227000000 42000000 69000000 27000000 1330000000 613000000 198000000 245000000 274000000 1330000000 613000000 198000000 245000000 274000000 168000000 50000000 2000000 57000000 59000000 138000000 39000000 1000000 51000000 47000000 -126000000 6000000 5000000 265000000 339000000 4339000000 4338000000 0 -1000000 438000000 39000000 -45000000 548000000 54000000 0 0 37000000 48000000 -1000000 -35000000 -36000000 -25000000 17000000 0 -6000000 1291000000 366000000 468000000 13000000 25000000 15000000 1000000 8000000 1871000000 1773000000 98000000 1871000000 1773000000 98000000 2570000000 2219000000 351000000 2570000000 2219000000 351000000 1397000000 1309000000 88000000 1397000000 1309000000 88000000 3147000000 2419000000 728000000 3147000000 2419000000 728000000 24780000000 27681000000 40774000000 42322000000 22863000000 25714000000 1917000000 1967000000 3000000000 0 150000000 150000000 2000000000.0 3000000000.0 350000000 0 350000000 2000000000.0 1961000000 1487000000 165207000000 173764000000 P18M -54000000 793000000 -1243000000 5000000 751000000 -349000000 384000000 39000000 -45000000 511000000 1528000000 1432000000 96000000 1523000000 1422000000 101000000 7000000 -1000000 -1000000 14000000 1314000000 1579000000 1000000000 3000000000 6401000000 55000000 1012000000 1000000000 326000000 6522000000 57000000 1227000000 1200000000 403000000 1 1 -32000000 0 13000000 -62000000 -16000000 2000000 -18000000 -72000000 2544000000 3151000000 431000000 534000000 133000000 94000000 1000000 -15000000 0 -4000000 -1000000 -4000000 -72000000 1000000 13000000 -18000000 -15000000 2000000 -72000000 -18000000 -1000000 0 13000000 2000000 -57000000 -27000000 -27000000 -1000000 -4000000 40000000 153000000 0 128000000 136000000 -738000000 1000000000 517000000 1825000000 1000000000 825000000 2000000 101000000 335000000 7109000000 5275000000 148000000 178000000 713000000 900000000 6000000 12000000 13000000 2000000000 0 2075000000 5583000000 4291000000 1528000000 1523000000 2000000 29000000 9000000 120000000 11000000 149000000 6000000 3000000 39000000 23000000 45000000 26000000 6398000000 6400000000 6537000000 6500000000 40000000 -1000000 0 -44000000 -1000000 0 39000000 -45000000 0 0 1000000000 214000000 258000000 4325000000 19000000 79000000 81000000 81000000 83000000 5832000000 16000000 2000000 2000000 40000000 25000000 25000000 2000000 25000000 3823000000 4334000000 2975000000 307000000 351000000 2624000000 313000000 1606000000 1056000000 3685000000 359000000 488000000 3197000000 392000000 2023000000 1270000000 2975000000 2975000000 40000000 3685000000 -44000000 3685000000 238000000 285000000 145000000 205000000 P1Y P3Y P3Y 484000 12103000 2100000 1500000 700000 78.58 33875000 35831000 9663000 0 1900000 2812000000 3427000000 5000000000 4999000000 3174000000 3174000000 4174000000 59000000 2000000 15994000000 -142000000 14641000000 -169000000 83000000 98000000 P180D P180D 78.03 76.82 47000000 71000000 12800000 23600000 12800000 10800000 0 2001000000 3811000000 985000000 26400000000 27300000000 1216000000 1217000000 1203000000 1192000000 <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Investments</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, the estimated fair value of our short-term and long-term investments classified as available-for-sale was as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross<br clear="none"/>Amortized<br clear="none"/>Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross<br clear="none"/>Unrealized<br clear="none"/>Gains</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross<br clear="none"/>Unrealized<br clear="none"/>Losses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Estimated<br clear="none"/>Fair Value</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Short-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)(2)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,340</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(4</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,336</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">495</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">494</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Long-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,324</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(16</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,309</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">88</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">88</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)(2)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,247</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(21</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,227</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes short-term restricted cash of </font><font style="font-family:inherit;font-size:8pt;">$81 million</font><font style="font-family:inherit;font-size:8pt;"> that we intend to use to support our global sabbatical program and a counterparty guarantee, and long-term restricted cash of </font><font style="font-family:inherit;font-size:8pt;">$2 million</font><font style="font-family:inherit;font-size:8pt;">.</font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes time deposits of </font><font style="font-family:inherit;font-size:8pt;">$199 million</font><font style="font-family:inherit;font-size:8pt;">, which are not considered available-for-sale securities.</font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.41520467836257%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross<br clear="none"/>Amortized<br clear="none"/>Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross<br clear="none"/>Unrealized<br clear="none"/>Gains</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross<br clear="none"/>Unrealized<br clear="none"/>Losses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Estimated<br clear="none"/>Fair Value</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Short-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)(2)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,092</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,092</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">210</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">210</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Long-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,769</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,764</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">98</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">98</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)(2)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,169</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(8</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,164</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes short-term restricted cash of </font><font style="font-family:inherit;font-size:8pt;">$79 million</font><font style="font-family:inherit;font-size:8pt;"> that we intend to use to support our global sabbatical program and a counterparty guarantee, and long-term restricted cash of </font><font style="font-family:inherit;font-size:8pt;">$2 million</font><font style="font-family:inherit;font-size:8pt;">.</font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes time deposits of </font><font style="font-family:inherit;font-size:8pt;">$163 million</font><font style="font-family:inherit;font-size:8pt;">, which are not considered available-for-sale securities.</font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We elected to account for foreign denominated available-for-sale investments held in our Luxembourg banking subsidiary under the fair value option. Election of the fair value option allows us to recognize any gains and losses from fair value changes on such investments in other income (expense), net on the condensed consolidated statement of income to offset certain foreign exchange gains and losses on our foreign denominated customer liabilities. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, the estimated fair value of our investments included within short-term investments and long-term investments under the fair value option was </font><font style="font-family:inherit;font-size:10pt;">$317 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$277 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. In the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$8 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$6 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, of net gains from fair value changes were recognized in other income (expense), net on the condensed consolidated statement of income.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The aggregate fair value of short-term and long-term investments in an unrealized loss position was </font><font style="font-family:inherit;font-size:10pt;">$3.4 billion</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$2.8 billion</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, of which </font><font style="font-family:inherit;font-size:10pt;">$206 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$207 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, was in a continuous unrealized loss position for greater than 12 months. The aggregate gross unrealized loss on our short-term and long-term investments was not material as of March 31, 2018 and December 31, 2017. We believe the decline in value is due to temporary market conditions and expect to recover the entire amortized cost basis of the securities.&#160;We neither intend nor anticipate the need to sell the securities before recovery.&#160;We will continue to monitor the performance of the investment portfolio and assess market and interest rate risk when evaluating whether other-than-temporary impairment exists. Amounts reclassified to earnings from unrealized gains and losses were not material for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The estimated fair values of our short-term and long-term investments classified as available-for-sale by date of contractual maturity at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> were as follows: </font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:85%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">One year or less </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,830</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">One year through two years</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">823</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Two years through three years</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">344</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Three years through four years</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">171</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Four years through five years</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">49</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Greater than five years</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,227</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Other Investments</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have equity investments which consist primarily of minority equity interests in companies that are not publicly traded and are reported in long-term investments on our condensed consolidated balance sheet. Our equity investments totaled </font><font style="font-family:inherit;font-size:10pt;">$88 million</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the assets underlying our funds receivable and customer accounts as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:73%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Cash and cash equivalents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5,832</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5,387</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">8,036</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,651</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Time deposits</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">373</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">739</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,129</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,248</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Funds receivable</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,792</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,217</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total funds receivable and customer accounts</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">19,162</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">18,242</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the activity in the allowance for consumer loans and interest receivable for the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="20" rowspan="1"></td></tr><tr><td style="width:33%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2017</font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Consumer Loans Receivable</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Interest Receivable</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Allowance</font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Consumer Loans Receivable</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Interest Receivable</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Allowance</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Beginning balance</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">57</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">63</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">265</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">305</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Provisions</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">23</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">26</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">120</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">29</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">149</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Charge-offs</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(39</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(42</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(104</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(32</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(136</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Recoveries</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Ending balance</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">41</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">47</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">291</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">37</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">328</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font><font style="font-family:inherit;font-size:8pt;"> Includes allowance related to loans and interest receivable, held for sale portfolio prior to its designation as held for sale.</font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup></font><font style="font-family:inherit;font-size:8pt;"> Beginning and ending balances include approximately </font><font style="font-family:inherit;font-size:8pt;">$50 million</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">$31 million</font><font style="font-family:inherit;font-size:8pt;">, respectively, of U.S. consumer receivables not designated as held for sale that are fully reserved and are expected to be charged off.</font></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the activity in the allowance for merchant loans and advances, interest and fees receivable, for the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="20" rowspan="1"></td></tr><tr><td style="width:33%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Merchant Loans and Advances</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Interest and Fees Receivable</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Allowance</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Merchant Loans and Advances</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Interest and Fees Receivable</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Allowance</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Beginning balance</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">52</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">59</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">28</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">31</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Provisions</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">39</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">45</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">9</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">11</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Charge-offs</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(21</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(23</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(10</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(12</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Recoveries</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Ending balance</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">72</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">11</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">83</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">29</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">32</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, the estimated fair value of our short-term and long-term investments classified as available-for-sale was as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross<br clear="none"/>Amortized<br clear="none"/>Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross<br clear="none"/>Unrealized<br clear="none"/>Gains</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross<br clear="none"/>Unrealized<br clear="none"/>Losses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Estimated<br clear="none"/>Fair Value</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Short-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)(2)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,340</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(4</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,336</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">495</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">494</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Long-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,324</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(16</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,309</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">88</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">88</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)(2)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,247</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(21</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,227</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes short-term restricted cash of </font><font style="font-family:inherit;font-size:8pt;">$81 million</font><font style="font-family:inherit;font-size:8pt;"> that we intend to use to support our global sabbatical program and a counterparty guarantee, and long-term restricted cash of </font><font style="font-family:inherit;font-size:8pt;">$2 million</font><font style="font-family:inherit;font-size:8pt;">.</font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes time deposits of </font><font style="font-family:inherit;font-size:8pt;">$199 million</font><font style="font-family:inherit;font-size:8pt;">, which are not considered available-for-sale securities.</font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.41520467836257%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross<br clear="none"/>Amortized<br clear="none"/>Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross<br clear="none"/>Unrealized<br clear="none"/>Gains</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross<br clear="none"/>Unrealized<br clear="none"/>Losses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Estimated<br clear="none"/>Fair Value</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Short-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)(2)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,092</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,092</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">210</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">210</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Long-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,769</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,764</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">98</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">98</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)(2)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,169</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(8</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,164</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes short-term restricted cash of </font><font style="font-family:inherit;font-size:8pt;">$79 million</font><font style="font-family:inherit;font-size:8pt;"> that we intend to use to support our global sabbatical program and a counterparty guarantee, and long-term restricted cash of </font><font style="font-family:inherit;font-size:8pt;">$2 million</font><font style="font-family:inherit;font-size:8pt;">.</font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes time deposits of </font><font style="font-family:inherit;font-size:8pt;">$163 million</font><font style="font-family:inherit;font-size:8pt;">, which are not considered available-for-sale securities.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Basis of Presentation and Principles of Consolidation</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The condensed consolidated financial statements include the financial statements of PayPal and our wholly and majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Investments in entities where we hold less than a 20% ownership interest are generally accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes, and our share of the investees&#8217; results of operations and is included in other income (expense), net on our condensed consolidated statement of income to the extent dividends are received. Our investment balance is included in long-term investments on our condensed consolidated balance sheet.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Commitments and Contingencies</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Commitments</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, approximately </font><font style="font-family:inherit;font-size:10pt;">$27.3 billion</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$26.4 billion</font><font style="font-family:inherit;font-size:10pt;">, respectively, of unused credit was available to PayPal Credit account holders. While this amount represents the total unused credit available, we have not experienced, and do not anticipate, that all of our PayPal Credit account holders will access their entire available credit at any given point in time. In addition, the individual lines of credit that make up this unused credit are subject to periodic review and termination by the chartered financial institution that is the issuer of PayPal Credit products based on, among other things, account usage and customer creditworthiness.&#160;When a consumer funds a purchase in the U.S. using a PayPal Credit product issued by a chartered financial institution, the chartered financial institution extends credit to the consumer, funds the extension of credit at the point of sale and advances funds to the merchant. We subsequently purchase the receivables related to the consumer loans extended by the chartered financial institution and, as a result of such purchase, bear the risk of loss in the event of loan defaults. Although the chartered financial institution continues to own each customer account, we own the related receivable (excluding participation interests sold) and are responsible for all servicing functions related to the account.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Litigation and Regulatory Matters</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Overview</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are involved in legal and regulatory proceedings on an ongoing basis. Many of these proceedings are in early stages, and may seek an indeterminate amount of damages. If we believe that a loss arising from such matters is probable and can be reasonably estimated, we accrue the estimated liability in our financial statements. If only a range of estimated losses can be determined, we accrue an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, we accrue the low end of the range. For those proceedings in which an unfavorable outcome is reasonably possible but not probable, we have disclosed an estimate of the reasonably possible loss or range of losses or we have concluded that an estimate of the reasonably possible loss or range of losses arising directly from the proceeding (i.e., monetary damages or amounts paid in judgment or settlement) are not material. If we cannot estimate the probable or reasonably possible loss or range of losses arising from a legal proceeding, we have disclosed that fact. In assessing the materiality of a legal proceeding, we evaluate, among other factors, the amount of monetary damages claimed, as well as the potential impact of non-monetary remedies sought by plaintiffs (e.g., injunctive relief) that may require us to change our business practices in a manner that could have a material adverse impact on our business. With respect to the matters disclosed in this Note 13, we are unable to estimate the possible loss or range of losses that could potentially result from the application of such non-monetary remedies.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amounts accrued for legal and regulatory proceedings for which we believe a loss is probable were not material for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. Except as otherwise noted for the proceedings described in this Note 13, we have concluded, based on currently available information, that reasonably possible losses arising directly from the proceedings (i.e., monetary damages or amounts paid in judgment or settlement) in excess of our recorded accruals are also not material. However, legal and regulatory proceedings are inherently unpredictable and subject to significant uncertainties. If one or more matters were resolved against us in a reporting period for amounts in excess of management&#8217;s expectations, the impact on our operating results or financial condition for that reporting period could be material.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Regulatory Proceedings</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are required to comply with U.S. economic and trade sanctions administered by the U.S. Department of the Treasury&#8217;s Office of Foreign Assets Control (&#8220;OFAC&#8221;). We have self-reported to OFAC certain transactions that were inadvertently processed but subsequently identified as possible violations of U.S. economic and trade sanctions.&#160;In March 2015, we reached a settlement with OFAC regarding possible violations arising from our sanctions compliance practices between 2009 and 2013, prior to the implementation of our real-time transaction scanning program. Subsequently, we have self-reported additional transactions as possible violations, and we have received new subpoenas from OFAC seeking additional information about certain of these transactions. Such self-reported transactions could result in claims or actions against us, including litigation, injunctions, damage awards, fines or penalties, or require us to change our business practices in a manner that could result in a material loss, require significant management time, result in the diversion of significant operational resources or otherwise harm our business.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 28, 2016, we received a Civil Investigative Demand (&#8220;CID&#8221;) from the Federal Trade Commission (&#8220;FTC&#8221;) as part of its investigation to determine whether we, through our Venmo service, have been or are engaged in deceptive or unfair practices in violation of the Federal Trade Commission Act.&#160;The CID requested the production of documents and answers to written questions related to our Venmo service. We have cooperated with the FTC in connection with the CID.&#160;On February 27, 2018, we entered into a Consent Order with the FTC in which we settled potential allegations arising from our Venmo services between 2013 and 2017. The Consent Order does not contain a monetary penalty, but requires PayPal to make various changes to Venmo&#8217;s disclosures and business practices. The Consent Order was subject to public comment through March 29, 2018 and is subject to final approval by the FTC. As required by the Consent Order, we will cooperate with the FTC&#8217;s requirements and work to ensure compliance with the Consent Order. Any failure to comply with the Consent Order may increase the possibility of additional adverse consequences, including litigation, additional regulatory actions, injunctions, or monetary penalties, or require further changes to our business practices, significant management time, or the diversion of significant operational resources, all of which could result in a material loss or otherwise harm our business.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Legal Proceedings</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On January 12, 2017, a putative shareholder derivative action captioned </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Silverman v. Schulman, et al.</font><font style="font-family:inherit;font-size:10pt;">, Case No. 5:17-cv-00162 (the &#8220;California Derivative Case&#8221;) was filed in the U.S. District Court for the Northern District of California (the "Court"). On March 24, 2017, a second derivative action substantially similar to the California Derivative Case captioned </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Seeman v. Schulman, et al.</font><font style="font-family:inherit;font-size:10pt;">, Case No. 1:17-cv-00318-UNA, was filed in the U.S. District Court for the District of Delaware (the &#8220;Delaware Derivative Case&#8221;). On April 19, 2017, the Delaware court in the Delaware Derivative Case issued an order adopting a stipulation filed by the parties transferring the Delaware Derivative Case to the Court so that the Delaware Derivative Case could be consolidated with the pending California Derivative Case. On April 27 and 28, 2017, two additional shareholder derivative lawsuits substantially similar to the California Derivative Case and Delaware Derivative Case were filed in the Court. These cases are captioned </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Sims v. Schulman, et al.</font><font style="font-family:inherit;font-size:10pt;">, Case No. 1:17-cv-02428, and </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Liss v. Schulman, et al.</font><font style="font-family:inherit;font-size:10pt;">, Case No. 1:17-cv-02446-NC (together with the California Derivative Case and the Delaware Derivative Case, the &#8220;Derivative Cases&#8221;). The Derivative Cases are purportedly brought on behalf of the Company and assert claims relating to our disclosure in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2016, that on March 28, 2016, we received a CID from the FTC as part of its investigation to determine whether we, through our Venmo service, have been or are engaged in deceptive or unfair practices in violation of the Federal Trade Commission Act. The Derivative Cases allege that the Company&#8217;s Chief Executive Officer, Chief Financial Officer, former interim Chief Financial Officer, and certain members of its Board of Directors breached their fiduciary duties to the Company, violated Section 14(a) of the Exchange Act, and were unjustly enriched by, among other things, causing or permitting the Company to issue materially false and misleading statements or omissions regarding the Company&#8217;s compliance with applicable laws and regulations with respect to its Venmo service, and/or by permitting or causing the Company to engage in unfair trade practices through its Venmo service. The Derivative Cases seek, among other things, to recover unspecified compensatory damages on behalf of the Company arising out of the individual defendants&#8217; alleged wrongful conduct. Although plaintiffs in the Derivative Cases do not seek relief against the Company, we have certain indemnification obligations to the individual defendants. On June 30, 2017, the Court issued an order approving a stipulation filed by the parties in the Derivative Cases that consolidates these cases and appoints co-lead plaintiffs&#8217; counsel for the consolidated case, captioned </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">In re PayPal Holdings, Inc. Shareholder Derivative Litigation</font><font style="font-family:inherit;font-size:10pt;">, Lead Case No. 5:17-cv-00162-RS (the &#8220;Consolidated Derivative Case&#8221;). The Court&#8217;s order states that it applies to each purported derivative action that is subsequently filed in, removed to, or transferred to the Court, arising out of the same or substantially the same transactions or events as the Derivative Cases.&#160;On July 31, 2017, plaintiffs&#8217; counsel designated the complaint filed in the </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Liss </font><font style="font-family:inherit;font-size:10pt;">action as the operative complaint for the Consolidated Derivative Case. On October 5, 2017, another putative shareholder derivative suit was filed in the Court captioned </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Iron Workers Local No. 25 Pension Fund v. John J. Donahoe, et al.</font><font style="font-family:inherit;font-size:10pt;">, Case No. 5:17-cv-05741-NC, that makes similar allegations and advances similar claims against the same defendants as those at issue in the Consolidated Derivative Case. Pursuant to the Court&#8217;s consolidation order, this shareholder derivative suit is part of the Consolidated Derivative Case.&#160;On September 28, 2017, we filed a motion to dismiss the operative complaint on grounds that plaintiffs lack standing to pursue claims on behalf of the Company because they did not make a pre-suit demand on the Company&#8217;s Board of Directors prior to filing the Derivative Cases and failed to establish that making such a demand would have been futile.&#160;On January 18, 2018, the Court granted our motion to dismiss with leave to amend and gave plaintiffs </font><font style="font-family:inherit;font-size:10pt;">30</font><font style="font-family:inherit;font-size:10pt;"> days from that date to file an amended complaint.&#160;On February 16, 2018, plaintiffs in the Consolidated Derivative Case filed an amended complaint. Plaintiffs&#8217; counsel also sent a letter dated February 15, 2018 to counsel for the defendants that purports to be a litigation demand on the Company's Board of Directors. In April 2018, defendants in the Consolidated Derivative Case entered into a tolling agreement that tolls the running of any statute of limitations applicable to the claims at issue in the lawsuit and the litigation demand plaintiffs sent to the Company's Board of Directors until </font><font style="font-family:inherit;font-size:10pt;">30</font><font style="font-family:inherit;font-size:10pt;"> days from the time the Board issues a final response to the demand or </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> years elapse from the date of the tolling agreement, whichever comes first. Pursuant to the agreement, plaintiffs in the Consolidated Derivative Case have agreed to voluntarily dismiss the lawsuit without prejudice for now.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have received subpoenas from the U.S. Department of Justice (&#8220;DOJ&#8221;) seeking the production of certain information related to our historical anti-money laundering program. We are cooperating with the DOJ in providing information in response to the subpoenas. We are unable to predict the outcome of the government's investigation.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In November 2017, we announced that we had suspended the operations of TIO Networks (&#8220;TIO&#8221;) as part of an ongoing investigation of security vulnerabilities of the TIO platform. On December 1, 2017 we announced that we had identified evidence of unauthorized access to TIO&#8217;s network, including locations that stored personal information of some of TIO&#8217;s customers and customers of TIO billers and the potential compromise of personally identifiable information for approximately </font><font style="font-family:inherit;font-size:10pt;">1.6 million</font><font style="font-family:inherit;font-size:10pt;"> customers. We have received a number of governmental inquiries, including from state attorneys general, and we may be subject to additional governmental inquiries and investigations in the future. In addition, on December 6, 2017, a putative class action lawsuit captioned </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Sgarlata v. PayPal Holdings, Inc., et al.</font><font style="font-family:inherit;font-size:10pt;">, Case No. 3:17-cv-06956 was filed in the Court against the Company, its Chief Executive Officer, its Chief Financial Officer and Hamed Shahbazi, the former chief executive officer of TIO (the &#8220;Defendants&#8221;) alleging violations of federal securities laws. Specifically, the lawsuit alleges that Defendants made false or misleading statements or failed to disclose that TIO&#8217;s data security program was inadequate to safeguard the personally identifiable information of its users, those vulnerabilities threatened continued operation of TIO&#8217;s platform, the Company&#8217;s revenues derived from TIO services were thus unsustainable, and consequently, the Company overstated the benefits of the TIO acquisition, and, as a result, the Company&#8217;s public statements were materially false and misleading at all relevant times. The plaintiff who initiated the lawsuit sought to represent a class of shareholders who acquired shares of the Company&#8217;s common stock between February 14, 2017 through December 1, 2017 and sought damages and attorneys&#8217; fees, among other relief. On March 16, 2018, the Court appointed </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> new plaintiffs, not the original plaintiff who filed the case, as interim co-lead plaintiffs in the case and appointed two law firms as interim co-lead counsel. Pursuant to stipulations entered into by the parties to the case, the Court issued orders on March 30 and April 6, 2018 providing for the publication by interim co-lead counsel of an amended notice under the Private Securities Litigation Reform Act given the anticipated amendment of the complaint to include an amended class definition that includes individuals who purchased options to purchase our common stock between February 14, 2017 through December 1, 2017, the filing of an amended complaint by co-lead plaintiffs within </font><font style="font-family:inherit;font-size:10pt;">seventy-five</font><font style="font-family:inherit;font-size:10pt;"> days of the March 30, 2018 order, and a briefing schedule on the Defendants&#8217; anticipated motions to dismiss the amended complaint. We may be subject to additional litigation relating to TIO&#8217;s data security platform or the suspension of TIO&#8217;s operations in the future. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">General Matters</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other third parties have from time to time claimed, and others may claim in the future, that we have infringed their intellectual property rights. We are subject to patent disputes, and expect that we will increasingly be subject to additional patent infringement claims involving various aspects of our business as our products and services continue to expand in scope and complexity. Such claims may be brought directly or indirectly against our companies and/or against our customers (who may be entitled to contractual indemnification under their contracts with us), and we are subject to increased exposure to such claims as a result of our acquisitions, particularly in cases where we are entering into new lines of business in connection with such acquisitions. We have in the past been forced to litigate such claims, and we believe that additional lawsuits alleging such claims will be filed against us. Intellectual property claims, whether meritorious or not, are time consuming and costly to defend and resolve, could require expensive changes in our methods of doing business or could require us to enter into costly royalty or licensing agreements on unfavorable terms or make substantial payments to settle claims or to satisfy damages awarded by courts.</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">From time to time, we are involved in other disputes or regulatory inquiries that arise in the ordinary course of business, including suits by our customers (individually or as class actions) alleging, among other things, improper disclosure of our prices, rules or policies, that our practices, prices, rules, policies or customer/user agreements violate applicable law or that we have acted unfairly and/or not acted in conformity with such prices, rules, policies or agreements. In addition to these types of disputes and regulatory inquiries, our operations are also subject to regulatory and/or legal review and/or challenges that tend to reflect the increasing global regulatory focus to which the payments industry is subject and, when taken as a whole with other regulatory and legislative action, such actions could result in the imposition of costly new compliance burdens on our business and customers and may lead to increased costs and decreased transaction volume and revenue. Further, the number and significance of these disputes and inquiries are increasing as we have grown larger, our business has expanded in scope (both in terms of the range of products and services that we offer and our geographical operations) and our products and services have increased in complexity. Any claims or regulatory actions against us, whether meritorious or not, could be time consuming, result in costly litigation, settlement payments, damage awards (including statutory damages for certain causes of action in certain jurisdictions), fines, penalties, injunctive relief or increased costs of doing business through adverse judgment or settlement, require us to change our business practices in expensive ways, require significant amounts of management time, result in the diversion of significant operational resources or otherwise harm our business.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Indemnification Provisions</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We entered into a separation and distribution agreement, a tax matters agreement, an operating agreement and various other agreements with eBay to govern the separation and relationship of the two companies going forward. These agreements provide for specific indemnity and liability obligations and could lead to disputes between us and eBay, which may be significant. In addition, the indemnity rights we have against eBay under the agreements may not be sufficient to protect us, and our indemnity obligations to eBay may be significant.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the ordinary course of business, we include limited indemnification provisions in certain of our agreements with parties with whom we have commercial relationships, including our standard marketing, promotions, and application-programming-interface license (API) agreements. Under these contracts, we generally indemnify, hold harmless, and agree to reimburse the indemnified party for losses suffered or incurred by the indemnified party in connection with claims by any third party with respect to our domain names, trademarks, logos, and other branding elements to the extent that such marks are related to the subject agreement. In a limited number of agreements, we have provided an indemnity for other types of third-party claims, which are indemnities mainly related to intellectual property rights. We have also provided an indemnity to our payments processors in the event of certain third-party claims or card association fines against the processor arising out of conduct by us or our customers. It is not possible to determine the maximum potential loss under these indemnification provisions due to our limited history of prior indemnification claims and the unique facts and circumstances involved in each particular situation. To date, no significant costs have been incurred, either individually or collectively, in connection with our indemnification provisions.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Off-Balance Sheet Arrangements</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, we had no off-balance sheet arrangements that have, or are reasonably likely to have, a current or future material effect on our consolidated financial condition, results of operations, liquidity, capital expenditures or capital resources. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Protection Programs </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We provide merchants and consumers with protection programs on substantially all transactions completed through our Payments Platform, except for transactions using our gateway products. These programs protect both merchants and consumers from loss primarily due to fraud and counterparty performance. Our Buyer Protection Program provides protection to consumers for qualifying purchases by reimbursing the consumer for the full amount of the purchase if a purchased item does not arrive or does not match the seller&#8217;s description. Our Seller Protection Programs provide protection to merchants against claims that a transaction was not authorized by the buyer or claims that an item was not received by covering the seller for the full amount of the payment on eligible sales. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The maximum potential exposure under our protection programs is estimated to be the portion of total eligible transaction volume (TPV) for which buyer or seller protection claims may be raised under our existing user agreements. Since eligible transactions are typically completed in a period significantly shorter than the period under which disputes may be opened, and based on our historical losses to date, we do not believe that the maximum potential exposure is representative of our actual potential exposure. The actual amount of potential exposure cannot be quantified as we are unable to determine total eligible transactions where performance by a merchant or customer is incomplete or completed transactions that may result in a claim under our protection programs. We record a liability with respect to losses under these protection programs when they are probable and the amount can be reasonably estimated. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides management's estimate of the maximum potential exposure related to our protection programs as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:70%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Maximum potential exposure</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">173,764</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">165,207</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides the amount of allowance for transaction losses and negative customer balances related to our</font><font style="font-family:inherit;font-size:10pt;color:#0000ff;"> </font><font style="font-family:inherit;font-size:10pt;">protection programs as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Allowance for transaction losses and negative customer balances</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">283</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">266</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Accumulated Other Comprehensive Income (Loss)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2018</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="20" rowspan="1"></td></tr><tr><td style="width:44%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:7%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized Gains (Losses) on Cash Flow Hedges</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized Gains (Losses) on Investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Foreign</font></div><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Currency</font></div><div style="padding-bottom:1px;text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Translation</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Estimated tax benefit</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Beginning balance </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(111</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(12</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(25</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(142</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other comprehensive income (loss) before reclassifications</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(62</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(16</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(72</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Less: Amount of gains (losses) reclassified from accumulated other comprehensive income</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(44</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(45</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net current period other comprehensive income (loss) </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(18</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(15</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(27</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Ending balance </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(129</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(27</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(23</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(169</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="20" rowspan="1"></td></tr><tr><td style="width:44%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:7%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized Gains (Losses) on Cash Flow Hedges</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized Gains (Losses) on Investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Foreign<br clear="none"/>Currency<br clear="none"/>Translation</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Estimated tax benefit</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Beginning balance </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">131</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(68</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">59</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other comprehensive income (loss) before reclassifications</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(32</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(18</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Less: Amount of gains (losses) reclassified from accumulated other comprehensive income</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">40</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">39</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net current period other comprehensive income (loss) </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(72</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(57</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Ending balance </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">59</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(4</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(55</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-top:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides details about reclassifications out of accumulated other comprehensive income (loss) for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11" rowspan="1"></td></tr><tr><td style="width:39%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Details about Accumulated Other Comprehensive</font></div><div style="padding-bottom:1px;text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Income (Loss) Components</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Affected Line Item in the Statement of Income</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Gains (losses) on cash flow hedges-foreign exchange contracts</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(44</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net revenues</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Unrealized gains (losses) on investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other income (expense), net</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(45</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">39</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Income before income taxes</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Income tax expense</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total reclassifications for the period</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(45</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">39</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net income</font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These condensed consolidated financial statements and accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;"> (the "</font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;"> Form 10-K") filed with the Securities and Exchange Commission.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Notes Payable</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the fourth quarter of 2017, we entered into a credit agreement ("2017 Credit Agreement") that provides for an unsecured </font><font style="font-family:inherit;font-size:10pt;">$3.0 billion</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">364</font><font style="font-family:inherit;font-size:10pt;">-day delayed-draw term loan credit facility, which is available in up to </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> borrowings. Borrowings and other amounts payable under the 2017 Credit Agreement are guaranteed by PayPal, Inc. Subject to specified conditions, we may designate one or more of our subsidiaries as additional borrowers under the 2017 Credit Agreement provided that we and PayPal, Inc. guarantee all borrowings and other obligations of any such subsidiaries under the 2017 Credit Agreement. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, no subsidiaries were designated as additional borrowers. Funds borrowed under the 2017 Credit Agreement may be used for capital allocation and other general corporate purposes. During the three months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, we effected two drawdowns aggregating to </font><font style="font-family:inherit;font-size:10pt;">$2.0 billion</font><font style="font-family:inherit;font-size:10pt;"> under the 2017 Credit Agreement. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$3.0 billion</font><font style="font-family:inherit;font-size:10pt;"> was outstanding under the 2017 Credit Agreement at a weighted average interest rate of </font><font style="font-family:inherit;font-size:10pt;">2.88%</font><font style="font-family:inherit;font-size:10pt;">. Accordingly, at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> borrowing capacity was available under the 2017 Credit Agreement. The total interest expense and fees we recorded related to this credit facility was approximately </font><font style="font-family:inherit;font-size:10pt;">$15 million</font><font style="font-family:inherit;font-size:10pt;"> for the three months ended March 31, 2018. On April 5, 2018, we repaid </font><font style="font-family:inherit;font-size:10pt;">$1.0 billion</font><font style="font-family:inherit;font-size:10pt;"> of the borrowings outstanding under the 2017 Credit Agreement. No remaining borrowing capacity is available under this agreement.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We maintain uncommitted credit facilities in various regions throughout the world, aggregating to approximately </font><font style="font-family:inherit;font-size:10pt;">$350 million</font><font style="font-family:inherit;font-size:10pt;"> of borrowing capacity. Interest rate terms for these facilities vary by region and reflect prevailing market rates for companies with strong credit ratings. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> amounts were outstanding under those facilities, and therefore, approximately </font><font style="font-family:inherit;font-size:10pt;">$350 million</font><font style="font-family:inherit;font-size:10pt;"> of borrowing capacity was available, subject to customary conditions to borrowing.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the third quarter of 2015, we entered into a credit agreement ("2015 Credit Agreement") that provides for an unsecured </font><font style="font-family:inherit;font-size:10pt;">$2.0 billion</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">five</font><font style="font-family:inherit;font-size:10pt;">-year revolving credit facility that includes a </font><font style="font-family:inherit;font-size:10pt;">$150 million</font><font style="font-family:inherit;font-size:10pt;"> letter of credit sub-facility and a </font><font style="font-family:inherit;font-size:10pt;">$150 million</font><font style="font-family:inherit;font-size:10pt;"> swingline sub-facility, with available borrowings under the revolving credit facility reduced by the amount of any letters of credit and swingline borrowings outstanding. Borrowings and other amounts payable under the 2015 Credit Agreement are guaranteed by PayPal, Inc. We may also, subject to the agreement of the applicable lenders, increase the commitments under the revolving credit facility by up to </font><font style="font-family:inherit;font-size:10pt;">$500 million</font><font style="font-family:inherit;font-size:10pt;">. Loans under the 2015 Credit Agreement will bear interest at either (i)&#160;London Interbank Offered Rate ("LIBOR") plus a margin (based on our public debt ratings) ranging from </font><font style="font-family:inherit;font-size:10pt;">1.00</font><font style="font-family:inherit;font-size:10pt;"> percent to </font><font style="font-family:inherit;font-size:10pt;">1.625</font><font style="font-family:inherit;font-size:10pt;"> percent or (ii)&#160;a formula based on the agent bank&#8217;s prime rate, the federal funds effective rate or LIBOR plus a margin (based on our public debt ratings) ranging from </font><font style="font-family:inherit;font-size:10pt;">zero</font><font style="font-family:inherit;font-size:10pt;"> percent to </font><font style="font-family:inherit;font-size:10pt;">0.625</font><font style="font-family:inherit;font-size:10pt;"> percent. Subject to specified conditions, we may designate one or more of our subsidiaries as additional borrowers under the 2015 Credit Agreement provided that we and PayPal, Inc. guarantee all borrowings and other obligations of any such subsidiaries under the 2015 Credit Agreement. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, no subsidiaries were designated as additional borrowers. Funds borrowed under the 2015 Credit Agreement may be used for working capital, capital expenditures, acquisitions and other general corporate purposes. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, no borrowings or letters of credit were outstanding under the 2015 Credit Agreement. Accordingly, at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$2.0 billion</font><font style="font-family:inherit;font-size:10pt;"> of borrowing capacity was available for the purposes permitted by the 2015 Credit Agreement, subject to customary conditions to borrowing.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Derivative Instruments</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Summary of Derivative Instruments</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our primary objective in holding derivatives is to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. Our derivatives expose us to credit risk to the extent that our counterparties may be unable to meet the terms of the arrangement. We seek to mitigate such risk by limiting our counterparties to, and by spreading the risk across, major financial institutions. In addition, the potential risk of loss with any one counterparty resulting from this type of credit risk is monitored on an ongoing basis.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Foreign Exchange Contracts</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We transact in various foreign currencies and have significant international revenues and costs denominated in foreign currencies, which subjects us to foreign currency risk. We have a foreign currency exposure management program whereby we designate certain foreign currency exchange contracts, generally with maturities of </font><font style="font-family:inherit;font-size:10pt;">18 months</font><font style="font-family:inherit;font-size:10pt;"> or less, to reduce the volatility of cash flows primarily related to forecasted revenues and expenses denominated in foreign currencies. The objective of the foreign exchange contracts is to help mitigate the risk that the U.S. dollar-equivalent cash flows are adversely affected by changes in the applicable U.S. dollar/foreign currency exchange rate. These derivative instruments are designated as cash flow hedges and accordingly, the derivative&#8217;s gain or loss is initially reported as a component of accumulated other comprehensive income (loss) and subsequently reclassified into revenue in the same period the forecasted transaction affects earnings. We evaluate the effectiveness of our foreign exchange contracts on a quarterly basis by comparing the change in the fair value of the derivative instruments with the change in the fair value of the forecasted cash flows of the hedged item. We did not exclude any component of the changes in fair value of the derivative instruments from the assessment of hedge effectiveness. We do not use any foreign exchange contracts for trading or speculative purposes.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, we estimated that </font><font style="font-family:inherit;font-size:10pt;">$126 million</font><font style="font-family:inherit;font-size:10pt;"> of net derivative losses related to our cash flow hedges included in accumulated other comprehensive income will be reclassified into earnings within the next 12 months. During the three months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, we did not discontinue any cash flow hedges because it was probable that the original forecasted transaction would not occur and as such, did not reclassify any gains or losses to earnings.&#160;If we elect to discontinue our cash flow hedges and it is probable that the original forecasted transaction will occur, we continue to report them in accumulated other comprehensive income (loss) until the forecasted transaction affects earnings at which point we also reclassify the de-designated hedges into earnings. Gains and losses on derivatives held after we discontinue our cash flow hedge and gains and losses on derivative instruments that are not designated as cash flow hedges are recorded in the same financial statement line item to which the derivative relates.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have an additional foreign currency exposure management program whereby we use foreign exchange contracts to offset the foreign exchange risk on our assets and liabilities denominated in currencies other than the functional currency of our subsidiaries. These contracts are not designated as hedging instruments and reduce, but do not entirely eliminate, the impact of currency exchange rate movements on our assets and liabilities. The foreign currency gains and losses on our assets and liabilities are recorded in other income (expense), net, which is offset by the gains and losses on the foreign exchange contracts.</font></div><div style="line-height:174%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Fair Value of Derivative Contracts</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fair value of our outstanding derivative instruments as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;"> was as follows:</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10" rowspan="1"></td></tr><tr><td style="width:53%;" rowspan="1" colspan="1"></td><td style="width:19%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Balance Sheet Location</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Derivative Assets:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts designated as cash flow hedges</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other current assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts not designated as hedging instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other current assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">51</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">66</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total derivative assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">56</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">66</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Derivative Liabilities:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts designated as cash flow hedges</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other current liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">122</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">94</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts not designated as hedging instruments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other current liabilities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">75</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">124</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total derivative liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">197</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">218</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net fair value of derivative instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(141</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(152</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Master Netting Agreements - Rights of Setoff</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Under master netting agreements with respective counterparties to our foreign exchange contracts, subject to applicable requirements, we are allowed to net settle transactions of the same type with a single net amount payable by one party to the other. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">However, we have elected to present the derivative assets and derivative liabilities on a gross basis in our condensed consolidated balance sheet. Rights of setoff associated with our foreign exchange contracts represented a potential offset to both assets and liabilities by </font><font style="font-family:inherit;font-size:10pt;">$52 million</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$56 million</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">. During the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, we entered into collateral security arrangements that provide for collateral to be received or posted when the net fair value of certain financial instruments fluctuates from contractually established thresholds. We posted </font><font style="font-family:inherit;font-size:10pt;">$70 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$38 million</font><font style="font-family:inherit;font-size:10pt;"> of cash collateral related to our derivative liabilities as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, respectively, which is recognized in other current assets on our condensed consolidated balance sheet and is related to the right to reclaim cash collateral. We received </font><font style="font-family:inherit;font-size:10pt;">$6 million</font><font style="font-family:inherit;font-size:10pt;"> in counterparty cash collateral related to our derivative assets as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> which is recognized in other current liabilities on our condensed consolidated balance sheet and is related to the obligation to return cash collateral. We did </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;">t receive any counterparty cash collateral as of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">.&#160; </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Effect of Derivative Contracts on Accumulated Other Comprehensive Income (Loss)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the activity of derivative contracts that qualify for hedge accounting as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, and the impact of designated derivative instruments on accumulated other comprehensive income (loss) for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:35%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount&#160;of&#160;gains (losses)</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">recognized in other</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">comprehensive&#160;income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Less: Amount&#160;of gains (losses)</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">reclassified from</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">accumulated other</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">comprehensive&#160;income</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">to net revenue</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts designated as cash flow hedges</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(111</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(62</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(44</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(129</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:35%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount&#160;of&#160;gains (losses)</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">recognized in other</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">comprehensive&#160;income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Less: Amount&#160;of gains (losses)</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">reclassified from</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">accumulated other</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">comprehensive&#160;income</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">to net revenue</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts designated as cash flow hedges</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">131</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(32</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">40</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">59</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Effect of Derivative Contracts on Condensed Consolidated Statements of Income</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides the location in the condensed consolidated statements of income and amount of the recognized gains or losses related to our derivative instruments designated as hedging instruments:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:75%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Revenue</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Revenue</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total amounts presented in the condensed consolidated statement of income in which the effects of cash flow hedges are recorded</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,685</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,975</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Gains (losses) on foreign exchange contracts designated as cash flow hedges reclassified from accumulated other comprehensive income into net income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(44</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides the location in the condensed consolidated statements of income and amount of the recognized gains or losses related to our derivative instruments not designated as hedging instruments:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:75%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Gains (losses) on foreign exchange contracts recognized in other income (expense), net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(44</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Gains (losses) on foreign exchange contracts recognized in net revenues</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(6</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total gains (losses) recognized from foreign exchange contracts not designated as hedging instruments </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(50</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(40</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Notional Amounts of Derivative Contracts </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Derivative transactions are measured in terms of the notional amount; however, this amount is not recorded on the balance sheet and is not, when viewed in isolation, a meaningful measure of the risk profile of the derivative instruments. The notional amount is generally not exchanged, but is used only as the underlying basis on which the value of foreign exchange payments under these contracts is determined. The following table provides the notional amounts of our outstanding derivatives:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts designated as cash flow hedges</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,309</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,639</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts not designated as hedging instruments</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,515</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5,669</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">9,824</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">8,308</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:18px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents our revenues disaggregated by primary geographical markets: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.41520467836257%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:71%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Primary geographical markets</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">United States ("U.S.")</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,023</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,606</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">United Kingdom ("U.K.")</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">392</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">313</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other countries</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,270</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,056</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#cceeff;">Total revenues</font><font style="font-family:inherit;font-size:9pt;background-color:#cceeff;"><sup style="vertical-align:top;line-height:120%;background-color:#cceeff; font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,685</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,975</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Types of revenues</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Transaction revenues</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,197</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,624</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other value added services</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">488</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">351</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total revenues</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,685</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,975</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">No single country included in the other countries category generated more than 10% of total revenue. </font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2) </sup></font><font style="font-family:inherit;font-size:8pt;">Total revenues include interest, fees and gains earned on loan and interest receivables, net and held for sale portfolio, as well as hedging gains or losses and interest earned on certain PayPal customer balances of&#160;</font><font style="font-family:inherit;font-size:8pt;">$359 million</font><font style="font-family:inherit;font-size:8pt;">&#160;and&#160;</font><font style="font-family:inherit;font-size:8pt;">$307 million</font><font style="font-family:inherit;font-size:8pt;">&#160;for the </font><font style="font-family:inherit;font-size:8pt;">three months ended March 31, 2018</font><font style="font-family:inherit;font-size:8pt;">&#160;and&#160;</font><font style="font-family:inherit;font-size:8pt;">2017</font><font style="font-family:inherit;font-size:8pt;">, respectively, which do not represent revenues recognized in the scope of ASC Topic 606, </font><font style="font-family:inherit;font-size:8pt;font-style:italic;">Revenue from contracts with customers</font><font style="font-family:inherit;font-size:8pt;">. </font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Stock-Based Plans</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Stock Options </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of&#160;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">,&#160;</font><font style="font-family:inherit;font-size:10pt;">1.9 million</font><font style="font-family:inherit;font-size:10pt;"> options to purchase shares of common stock were outstanding. </font><font style="font-family:inherit;font-size:10pt;">No</font><font style="font-family:inherit;font-size:10pt;"> new options were granted in the three months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">.</font><font style="font-family:inherit;font-size:10pt;color:#ff0000;"> </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Restricted Stock Units (RSUs) and Performance-Based Restricted Stock Units (PBRSUs)</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the RSU and PBRSU activity under our equity incentive plans for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended&#160;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3" rowspan="1"></td></tr><tr><td style="width:84%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:12px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Outstanding at January 1, 2018</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">33,875</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Awarded</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">12,103</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Vested</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(9,663</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Forfeited</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(484</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Outstanding at March&#160;31, 2018</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">35,831</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Expected to vest</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">30,871</font></div></td><td style="vertical-align:bottom;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Includes approximately </font><font style="font-family:inherit;font-size:8pt;">2.1 million</font><font style="font-family:inherit;font-size:8pt;"> additional PBRSUs issued due to company performance in connection with the Company's 2017 annual incentive plan. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The weighted average grant-date fair value of RSUs and PBRSUs granted during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended&#160;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> was&#160;</font><font style="font-family:inherit;font-size:10pt;">$78.58</font><font style="font-family:inherit;font-size:10pt;">&#160;per share.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended&#160;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, the Company granted RSUs that vest in equal annual installments over a </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;">-year period, </font><font style="font-family:inherit;font-size:10pt;">1.5 million</font><font style="font-family:inherit;font-size:10pt;"> PBRSUs with a </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;">-year performance period (fiscal 2018) and cliff vesting following the completion of the performance period in February 2019 (</font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> year from the annual incentive award cycle grant date) and </font><font style="font-family:inherit;font-size:10pt;">0.7 million</font><font style="font-family:inherit;font-size:10pt;"> PBRSUs with a </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;">-year performance period. Over the respective performance period, the number of PBRSUs that may be issued and the related stock-based compensation expense that is recognized is adjusted upward or downward based upon the probability of achieving the approved performance targets against the performance metrics. Depending on the probability of achieving the pre-established performance targets, the PBRSUs issued could range from </font><font style="font-family:inherit;font-size:10pt;">0%</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">200%</font><font style="font-family:inherit;font-size:10pt;"> of the target amount. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Stock-based Compensation Expense</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We record stock-based compensation expense for our equity incentive plans in accordance with the provisions of the authoritative accounting guidance, which requires the measurement and recognition of compensation expense based on estimated fair values. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The impact on our results of operations of recording stock-based compensation expense under our equity incentive plans for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and&#160;</font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;"> was as follows: </font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:73%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Customer support and operations</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">38</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">30</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Sales and marketing</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">44</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">28</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Product development</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">64</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">45</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">General and administrative</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">59</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">42</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Depreciation and amortization</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total stock-based compensation expense</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">209</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">147</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Capitalized as part of internal use software and website development costs</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Net Income Per Share</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Basic net income per share is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing net income for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding for the period. The dilutive effect of outstanding equity incentive awards is reflected in diluted net income per share by application of the treasury stock method. The calculation of diluted net income per share excludes all anti-dilutive common shares. </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table sets forth the computation of basic and diluted net income per share for the periods indicated: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:71%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions, except per share amounts)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Numerator:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">511</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">384</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Denominator:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Weighted average shares of common stock - basic</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,192</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,203</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#cceeff;">Dilutive effect of equity incentive awards</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">25</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Weighted average shares of common stock - diluted</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,217</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,216</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net income per share:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Basic</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">0.43</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">0.32</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Diluted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">0.42</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">0.32</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Common stock equivalents excluded from income per diluted share because their effect would have been anti-dilutive</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The condensed consolidated financial statements include the financial statements of PayPal and our wholly and majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Investments in entities where we hold less than a 20% ownership interest are generally accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes, and our share of the investees&#8217; results of operations and is included in other income (expense), net on our condensed consolidated statement of income to the extent dividends are received. Our investment balance is included in long-term investments on our condensed consolidated balance sheet.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Fair Value Measurement of Assets and Liabilities</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10" rowspan="1"></td></tr><tr><td style="width:64%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Significant&#160;Other<br clear="none"/>Observable&#160;Inputs<br clear="none"/>(Level 2)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="8" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-style:italic;font-weight:bold;">Assets:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Cash and cash equivalents</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,104</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,104</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Short-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,419</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,419</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">728</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">728</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total short-term investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,147</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,147</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Funds receivable and customer accounts</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">9,424</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">9,424</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Derivatives</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">56</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">56</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Long-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,309</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,309</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">88</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">88</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total long-term investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,397</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,397</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total financial assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">15,128</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">15,128</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-style:italic;font-weight:bold;">Liabilities:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Derivatives</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">197</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">197</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes cash of </font><font style="font-family:inherit;font-size:8pt;">$1.8 billion</font><font style="font-family:inherit;font-size:8pt;"> not subject to fair value measurement on a recurring basis.</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes restricted cash of </font><font style="font-family:inherit;font-size:8pt;">$83 million</font><font style="font-family:inherit;font-size:8pt;">, time deposits of </font><font style="font-family:inherit;font-size:8pt;">$199 million</font><font style="font-family:inherit;font-size:8pt;">, and equity investments of </font><font style="font-family:inherit;font-size:8pt;">$88 million</font><font style="font-family:inherit;font-size:8pt;"> not subject to fair value measurement on a recurring basis.</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(3)</sup></font><font style="font-family:inherit;font-size:8pt;"> Excludes cash, time deposits and funds receivable of </font><font style="font-family:inherit;font-size:8pt;">$9.7 billion</font><font style="font-family:inherit;font-size:8pt;"> underlying funds receivable and customer accounts not subject to fair value measurement on a recurring basis.</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10" rowspan="1"></td></tr><tr><td style="width:64%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Significant&#160;Other<br clear="none"/>Observable&#160;Inputs<br clear="none"/>(Level 2)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="8" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-style:italic;font-weight:bold;">Assets:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Cash and cash equivalents</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">791</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">791</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Short-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,219</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,219</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">351</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">351</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total short-term investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,570</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,570</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Funds receivable and customer accounts</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">8,007</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">8,007</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Derivatives</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">66</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">66</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Long-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,773</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,773</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">98</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">98</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total long-term investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,871</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,871</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total financial assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13,305</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13,305</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-style:italic;font-weight:bold;">Liabilities:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Derivatives</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">218</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">218</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes cash of </font><font style="font-family:inherit;font-size:8pt;">$2.1 billion</font><font style="font-family:inherit;font-size:8pt;"> not subject to fair value measurement on a recurring basis. </font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes restricted cash of </font><font style="font-family:inherit;font-size:8pt;">$81 million</font><font style="font-family:inherit;font-size:8pt;">, time deposits of </font><font style="font-family:inherit;font-size:8pt;">$163 million</font><font style="font-family:inherit;font-size:8pt;">, and equity investments of </font><font style="font-family:inherit;font-size:8pt;">$88 million</font><font style="font-family:inherit;font-size:8pt;"> not subject to fair value measurement on a recurring basis.</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(3) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes cash, time deposits and funds receivable of </font><font style="font-family:inherit;font-size:8pt;">$10.2 billion</font><font style="font-family:inherit;font-size:8pt;"> underlying funds receivable and customer accounts not subject to fair value measurement on a recurring basis.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our financial assets and liabilities are valued using market prices on both active markets (Level&#160;1)&#160;and less active markets (Level&#160;2). Level&#160;1 instrument valuations are obtained from real-time quotes for transactions in active exchange markets involving identical assets. Level&#160;2 instrument valuations are obtained from readily available pricing sources for comparable instruments, identical instruments in less active markets, or models using market observable inputs. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">A majority of our derivative instruments are valued using pricing models that take into account the contract terms as well as multiple inputs where applicable, such as currency rates, interest rate yield curves, option volatility and equity prices. Our derivative instruments are primarily short-term in nature, generally </font><font style="font-family:inherit;font-size:10pt;">one month</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">one year</font><font style="font-family:inherit;font-size:10pt;"> in duration. Certain foreign currency contracts designated as cash flow hedges may have a duration of up to </font><font style="font-family:inherit;font-size:10pt;">18</font><font style="font-family:inherit;font-size:10pt;"> months. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We did not have any transfers of financial instruments between valuation levels during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, we did not have any assets or liabilities requiring measurement at fair value without observable market values that would require a high level of judgment to determine fair value (Level&#160;3).</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash and cash equivalents are short-term, highly liquid investments with original maturities of three months or less when purchased and are comprised primarily of bank deposits, government and agency securities and commercial paper. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We elect to account for foreign currency denominated available-for-sale investments underlying funds receivable and customer accounts, short term investments and long term investments under the fair value option as further discussed in "Note 7&#8212;Funds Receivable and Customer Accounts" and "Note 8&#8212;Investments."</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Assets and Liabilities Not Measured and Recorded at Fair Value</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our financial instruments, including cash, time deposits, accounts receivable, loans and interest receivable, net, loans and interest receivable held for sale, funds receivable, certain customer accounts, accounts payable, notes payable, and funds payable and amounts due to customers are carried at cost, which approximates their fair value due to the short-term maturity of these instruments. If these financial instruments were measured at fair value in the financial statements, cash would be classified as Level 1, time deposits, certain customer accounts, and notes payable would be classified as Level 2, and the remaining financial instruments would be classified as Level 3 in the fair value hierarchy.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the principal amount of U.S. consumer loans and interest receivable segmented by a FICO score range:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:63%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&gt; 760</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">812</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">832</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">680 - 759</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,474</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,439</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">600 - 679</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,432</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,378</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&lt; 599</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">804</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">752</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,522</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,401</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Goodwill and Intangible Assets</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Goodwill</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents goodwill balances and adjustments to those balances during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">: </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-align:center;">Goodwill</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-align:center;">Acquired</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Adjustments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total goodwill</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,339</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,338</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Intangible Assets</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The components of identifiable intangible assets are as follows:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.41520467836257%;border-collapse:collapse;text-align:left;"><tr><td colspan="28" rowspan="1"></td></tr><tr><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:7%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:7%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:7%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:7%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="13" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="13" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross Carrying Amount</font><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Accumulated Amortization</font><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Net Carrying Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Weighted Average Useful Life (Years)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross Carrying Amount</font><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Accumulated Amortization</font><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Net Carrying Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Weighted Average Useful Life (Years)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="27" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions, except years)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Intangible assets:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Customer lists and user base</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">613</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(574</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">39</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">613</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(563</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">50</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Marketing related</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">198</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(197</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">198</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(196</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Developed technologies</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">274</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(227</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">47</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">274</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(215</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">59</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">All other</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">245</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(194</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">51</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">245</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(188</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">57</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Intangible assets, net</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,330</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1,192</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">138</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,330</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1,162</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">168</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization expense for intangible assets was </font><font style="font-family:inherit;font-size:10pt;">$30 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$27 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expected future intangible asset amortization as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> was as follows (in millions):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:87%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Fiscal years:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Remaining 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">69</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2019</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">42</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2020</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">27</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">138</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Income Taxes</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our effective tax rate for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;"> was </font><font style="font-family:inherit;font-size:10pt;">7%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">12%</font><font style="font-family:inherit;font-size:10pt;">, respectively. The difference between our effective tax rate for the three months ended March 31, 2018 and the U.S. federal statutory rate of </font><font style="font-family:inherit;font-size:10pt;">21%</font><font style="font-family:inherit;font-size:10pt;"> was primarily the result of foreign income taxed at different rates and discrete tax benefits related to stock-based compensation. The difference between our effective tax rate for the three months ended March 31, 2017 and the U.S. federal statutory rate of </font><font style="font-family:inherit;font-size:10pt;">35%</font><font style="font-family:inherit;font-size:10pt;"> was primarily the result of foreign income taxed at different rates. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the three months ended March 31, 2018, we recognized tax expense adjustments of </font><font style="font-family:inherit;font-size:10pt;">$3 million</font><font style="font-family:inherit;font-size:10pt;"> to the provisional amounts recorded at December 31, 2017 for the enactment-date effects of the Tax Act. All amounts recorded related to the enactment-date effects of the Tax Act as of March 31, 2018 are considered provisional estimates because we have not completed our accounting for certain elements of the Tax Act, including whether taxes due on future U.S. inclusions related to Global Intangible Low Taxed Income ("GILTI") are recorded as a current-period expense when incurred or whether such amounts should be factored into our measurement of its deferred taxes. As a result, for the period ended March 31, 2018, we have treated GILTI as a period cost. We will continue to refine our calculations as additional analysis is completed. Our provisional estimates may be affected as we gain a more thorough understanding of the Tax Act and any such changes to those estimates could be material to income tax expense.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The estimated fair values of our investments classified as available-for-sale included within funds receivable and customer accounts by date of contractual maturity at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> were as follows: </font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:87%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">One year or less </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7,292</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">One year through two years</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">26</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Two years through three years</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">29</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7,347</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The estimated fair values of our short-term and long-term investments classified as available-for-sale by date of contractual maturity at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> were as follows: </font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:85%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">One year or less </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,830</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">One year through two years</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">823</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Two years through three years</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">344</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Three years through four years</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">171</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Four years through five years</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">49</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Greater than five years</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,227</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Funds Receivable and Customer Accounts</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the assets underlying our funds receivable and customer accounts as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:73%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Cash and cash equivalents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5,832</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5,387</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">8,036</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,651</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Time deposits</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">373</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">739</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,129</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,248</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Funds receivable</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,792</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,217</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total funds receivable and customer accounts</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">19,162</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">18,242</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, the estimated fair value of our investments classified as available-for-sale included within funds receivable and customer accounts was as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amortized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gains</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Losses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Estimated</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair Value</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,962</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,956</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">392</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">391</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7,354</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(7</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7,347</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amortized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gains</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Losses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Estimated</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair Value</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5,946</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5,941</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">529</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">529</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,475</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(5</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,470</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We elect to account for certain investments within customer accounts, including foreign-currency denominated available-for-sale investments, under the fair value option. As a result, any gains and losses from fair value changes on such investments are recognized in other income (expense), net on the condensed consolidated statement of income. Election of the fair value option allows us to significantly reduce the accounting asymmetry that would otherwise arise when recognizing the changes in the fair value of&#160;available-for-sale investments and the corresponding foreign exchange gains and losses relating to customer liabilities. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, the estimated fair value of our investments included within funds receivable and customer accounts under the fair value option was </font><font style="font-family:inherit;font-size:10pt;">$1.8 billion</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.4 billion</font><font style="font-family:inherit;font-size:10pt;">, respectively. In the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$40 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$15 million</font><font style="font-family:inherit;font-size:10pt;"> of net gains from fair value changes, respectively, were recognized in other income (expense), net on the condensed consolidated statement of income.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The aggregate fair value of investments in an unrealized loss position was </font><font style="font-family:inherit;font-size:10pt;">$6.4 billion</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$6.0 billion</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">.&#160;The aggregate gross unrealized loss on our short-term and long-term investments was not material as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">. We believe the decline in value is due to temporary market conditions and expect to recover the entire amortized cost basis of the securities.&#160;We neither intend nor anticipate the need to sell the securities before recovery.&#160;We will continue to monitor the performance of the investment portfolio and assess market and interest rate risk when evaluating whether other-than-temporary impairment exists. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, we had no material investments that had been in a continuous unrealized loss position for greater than 12 months. Amounts reclassified to earnings from unrealized gains and losses were not material for the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The estimated fair values of our investments classified as available-for-sale included within funds receivable and customer accounts by date of contractual maturity at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> were as follows: </font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:87%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">One year or less </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7,292</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">One year through two years</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">26</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Two years through three years</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">29</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7,347</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Loans and Interest Receivable</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We offer credit products to consumers and certain small and medium-sized merchants. We work with independent chartered financial institutions that extend credit to the consumer or merchant using our credit products in the U.S. For our consumer credit products outside the U.S., we extend credit through our Luxembourg banking subsidiary. For our merchant credit products outside the U.S., we extend working capital advances in the U.K. through our Luxembourg banking subsidiary, and we extend working capital loans in Australia through an Australian subsidiary. We purchase the related receivables extended by an independent chartered financial institution and are responsible for servicing functions related to all our credit products. During the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, we purchased approximately </font><font style="font-family:inherit;font-size:10pt;">$3.0 billion</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$2.1 billion</font><font style="font-family:inherit;font-size:10pt;">, respectively, in credit receivables. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Loans and Interest Receivable, Held for Sale</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In November 2017, we reached an agreement to sell our U.S. consumer credit receivables portfolio to Synchrony Bank. Historically, this portfolio was reported as outstanding principal balances, net of any participation interest sold and pro-rata allowances, including unamortized deferred origination costs and estimated collectible interest and fees. Upon approval of our Board of Directors to sell these receivables, the portfolio was reclassified as held for sale and recorded at the lower of cost or fair value, determined on an aggregate basis. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, the total outstanding balance in our held for sale portfolio was </font><font style="font-family:inherit;font-size:10pt;">$6.5 billion</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$6.4 billion</font><font style="font-family:inherit;font-size:10pt;">, respectively, net of the participation interest sold to an independent chartered financial institution and other investors of </font><font style="font-family:inherit;font-size:10pt;">$1.1 billion</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.1 billion</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We use consumer FICO scores, where available, among other measures, in evaluating the credit quality of our U.S. PayPal Credit consumer receivables, held for sale. A FICO score is a type of credit score that lenders use to assess an applicant's credit risk and whether to extend credit. Individual FICO scores are generally obtained each quarter in which the U.S. consumer has an outstanding consumer receivable that we own. The weighted average U.S. consumer FICO scores related to our loans and interest receivable, held for sale balance outstanding at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;"> was </font><font style="font-family:inherit;font-size:10pt;">679</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">680</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of&#160;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">&#160;and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, approximately&#160;</font><font style="font-family:inherit;font-size:10pt;">50.4%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">51.1%</font><font style="font-family:inherit;font-size:10pt;">, respectively, of the pool of loans and interest receivable, held for sale was due from U.S. consumers with FICO scores greater than or equal to </font><font style="font-family:inherit;font-size:10pt;">680</font><font style="font-family:inherit;font-size:10pt;">, which is generally considered "prime" by the consumer credit industry. As of&#160;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">&#160;and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, approximately&#160;</font><font style="font-family:inherit;font-size:10pt;">12.3%</font><font style="font-family:inherit;font-size:10pt;">&#160;and </font><font style="font-family:inherit;font-size:10pt;">11.7%</font><font style="font-family:inherit;font-size:10pt;">, respectively, of the pool of loans and interest receivable, held for sale was due from U.S. customers with FICO scores below&#160;</font><font style="font-family:inherit;font-size:10pt;">599</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the principal amount of U.S. consumer loans and interest receivable segmented by a FICO score range:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:63%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&gt; 760</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">812</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">832</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">680 - 759</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,474</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,439</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">600 - 679</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,432</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,378</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&lt; 599</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">804</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">752</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,522</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,401</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">FICO score segmentation included in the table above provides the credit quality of these receivables for comparative purposes only.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the delinquency status of U.S. consumer loans and interest receivable, held for sale. The amounts shown below are based on the number of days past the billing date to the consumer. Current represents balances that are within 30 days of the billing date. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, approximately </font><font style="font-family:inherit;font-size:10pt;">91.9%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">90.6%</font><font style="font-family:inherit;font-size:10pt;">, respectively, of the portfolio of U.S. consumer loans and interest receivable, held for sale was current.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="23" rowspan="1"></td></tr><tr><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2018</font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font></div></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Current</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">30 - 59 Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">60 - 89 Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">90 - 180 Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Past 30 days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,994</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">208</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">88</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">232</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">528</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6,522</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Includes approximately </font><font style="font-family:inherit;font-size:8pt;">$31 million</font><font style="font-family:inherit;font-size:8pt;"> of U.S. consumer loans and interest receivables not designated as held for sale that are fully reserved and are expected to be charged off, and excludes approximately </font><font style="font-family:inherit;font-size:8pt;">$46 million</font><font style="font-family:inherit;font-size:8pt;"> related to accrued unbilled interest. </font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="23" rowspan="1"></td></tr><tr><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2017</font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font></div></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Current</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">30 - 59 Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">60 - 89 Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">90 - 180 Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Past 30 days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,800</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">240</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">103</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">258</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">601</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6,401</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Includes approximately </font><font style="font-family:inherit;font-size:8pt;">$50 million</font><font style="font-family:inherit;font-size:8pt;"> of U.S. consumer loans and interest receivables not designated as held for sale that are fully reserved and are expected to be charged off, and excludes approximately </font><font style="font-family:inherit;font-size:8pt;">$47 million</font><font style="font-family:inherit;font-size:8pt;"> related to accrued unbilled interest. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">No allowances are recorded for potential losses against the loans and interest receivable, held for sale portfolio. Adjustments to the cost basis of the held for sale portfolio, which are primarily driven by charge-offs, are recorded as incurred and recognized in restructuring and other charges in our consolidated statement of income.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Loans and Interest Receivable, Net</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Consumer Receivables</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We offer credit products to consumers who choose PayPal Credit as their funding source at checkout. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, the outstanding balance in our pool of consumer receivables that excludes amounts classified as held for sale and primarily consists of loans and interest receivable due from international consumer accounts was </font><font style="font-family:inherit;font-size:10pt;">$403 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$326 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We closely monitor credit quality for our international consumer receivables to manage and evaluate our related exposure to credit risk. Credit risk management begins with initial underwriting and continues through to full repayment of a loan. To assess a consumer who requests a loan, we use, among other indicators, internally developed risk models using detailed information from external sources such as credit bureaus where available and internal historical experience including the consumer&#8217;s prior repayment history with PayPal Credit products as well as other measures. We use delinquency status and trends to assist in making new and ongoing credit decisions, to adjust our models, to plan our collection practices and strategies and in our determination of our allowance for international consumer loans and interest receivable.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present the delinquency status of the principal amount of international consumer loans and interest receivable. The amounts shown below are based on the number of days past the billing date to the consumer. Current represents balances that are within 30 days of the billing date. Amounts as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;"> represent loans and interest receivable due from consumer accounts excluding amounts classified as held for sale, of which approximately </font><font style="font-family:inherit;font-size:10pt;">95.3%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">96.0%</font><font style="font-family:inherit;font-size:10pt;">, respectively, were current. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="23" rowspan="1"></td></tr><tr><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Current</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">30 - 59 Days Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">60 - 89 Days Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">90 - 180 Days Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">384</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">19</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">403</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="23" rowspan="1"></td></tr><tr><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Current</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">30 - 59 Days Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">60 - 89 Days Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">90 - 180 Days Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">313</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">326</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We charge off consumer loan receivable balances in the month in which a customer balance becomes </font><font style="font-family:inherit;font-size:10pt;">180</font><font style="font-family:inherit;font-size:10pt;"> days past the payment due date. Bankrupt accounts are charged off within </font><font style="font-family:inherit;font-size:10pt;">60</font><font style="font-family:inherit;font-size:10pt;"> days after receipt of notification of bankruptcy. Loans receivable past the payment due date continue to accrue interest until they are charged off. We record an allowance for loss against the interest and fees receivable.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the activity in the allowance for consumer loans and interest receivable for the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="20" rowspan="1"></td></tr><tr><td style="width:33%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2017</font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Consumer Loans Receivable</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Interest Receivable</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Allowance</font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Consumer Loans Receivable</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Interest Receivable</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Allowance</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Beginning balance</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">57</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">63</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">265</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">305</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Provisions</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">23</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">26</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">120</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">29</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">149</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Charge-offs</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(39</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(42</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(104</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(32</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(136</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Recoveries</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Ending balance</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">41</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">47</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">291</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">37</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">328</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font><font style="font-family:inherit;font-size:8pt;"> Includes allowance related to loans and interest receivable, held for sale portfolio prior to its designation as held for sale.</font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup></font><font style="font-family:inherit;font-size:8pt;"> Beginning and ending balances include approximately </font><font style="font-family:inherit;font-size:8pt;">$50 million</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">$31 million</font><font style="font-family:inherit;font-size:8pt;">, respectively, of U.S. consumer receivables not designated as held for sale that are fully reserved and are expected to be charged off.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The tables above exclude receivables from other consumer credit products of </font><font style="font-family:inherit;font-size:10pt;">$57 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$55 million</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;">March 31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December 31, 2017</font><font style="font-family:inherit;font-size:10pt;">, respectively, and allowances of </font><font style="font-family:inherit;font-size:10pt;">$9 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$7 million</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;">March 31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December 31, 2017</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The provision for loan losses relating to our international consumer loans receivable portfolio is recognized in transaction and loan losses. The provision for interest receivable due to interest and fees earned on our international consumer loans receivable portfolio is recognized in net revenues from other value added services as a reduction in revenue.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Merchant Receivables</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We offer business financing solutions to certain existing small and medium-sized merchants through our PayPal Working Capital ("PPWC") product and, subsequent to our acquisition of Swift Capital ("Swift") in September 2017, through Swift business loan products. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, the total outstanding balance in our pool of merchant loans, advances, interest and fees receivable was </font><font style="font-family:inherit;font-size:10pt;">$1.2 billion</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.0 billion</font><font style="font-family:inherit;font-size:10pt;">, respectively, net of the participation interest sold to an independent chartered financial institution of </font><font style="font-family:inherit;font-size:10pt;">$28 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$28 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Through our PPWC product, merchants can borrow a certain percentage of their annual payment volume processed by PayPal and are charged a fixed fee for the loan or advance, which targets an annual percentage rate based on the overall credit assessment of the merchant. Loans and advances are repaid through a fixed percentage of the merchant's future payment volume that PayPal processes. Through our Swift business loan products, we provide merchants with access to short-term business financing based on an evaluation of both the applying business as well as the business owner. Swift business loans are collected by periodic payments until the balance has been satisfied.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The interest or fee is fixed at the time the loan or advance is extended and recognized as deferred revenues included in other current liabilities in our condensed consolidated balance sheet. The fixed interest or fee is amortized to net revenues from other value added services based on the amount repaid over the repayment period. We estimate the repayment period based on the merchant's payment processing history with PayPal, where available. For PPWC product, there is a general requirement that at least </font><font style="font-family:inherit;font-size:10pt;">10%</font><font style="font-family:inherit;font-size:10pt;"> of the original amount of the loan or advance plus the fixed fee must be repaid every </font><font style="font-family:inherit;font-size:10pt;">90</font><font style="font-family:inherit;font-size:10pt;"> days. We calculate the repayment rate of the merchant's future payment volume so that repayment of the loan or advance and fixed fee is expected to generally occur within </font><font style="font-family:inherit;font-size:10pt;">9</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">12</font><font style="font-family:inherit;font-size:10pt;"> months from the date of the loan or advance. On a monthly basis, we recalculate the repayment period based on the repayment activity on the receivable. As such, actual repayment periods are dependent on actual merchant payment processing volumes. For Swift business loans, we receive fixed periodic payments over the contractual term of the loan which generally ranges from </font><font style="font-family:inherit;font-size:10pt;">3</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">12</font><font style="font-family:inherit;font-size:10pt;"> months. We actively monitor receivables with repayment periods greater than the original expected or contractual repayment period.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We closely monitor credit quality for our merchant loans and advances that we extend or purchase so that we can evaluate, quantify, and manage our credit risk exposure. To assess a merchant seeking a business financing loan or advance, we use, among other indicators, risk models developed internally which utilize information obtained from multiple data sources, both external and internal data to predict the likelihood of timely and satisfactory repayment by the merchant of the loan or advance amount and the related interest or fixed fee. Primary drivers of the models include the merchant's annual payment volume, payment processing history with PayPal and prior repayment history with the PayPal products where available, elements sourced from consumer credit bureau and business credit bureau reports, and other information obtained during the application process. We use delinquency status and trends to assist in making ongoing credit decisions, to adjust our internal models, to plan our collection practices and strategies and in our determination of our allowance for these loans and advances. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Merchant Receivables Delinquency and Allowance</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present our estimate of the principal amount of merchant loans, advances, interest and fees receivable past their original expected or contractual repayment period. </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="27" rowspan="1"></td></tr><tr><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td colspan="27" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td></tr><tr><td colspan="27" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Within Original Expected Repayment Period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">30 - 59 Days Greater</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">60 - 89 Days Greater</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">90 - 180 Days Greater</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">180+ Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Past Original Expected Repayment Period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,105</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">44</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">28</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">122</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,227</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="27" rowspan="1"></td></tr><tr><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td colspan="27" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td colspan="27" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Within Original Expected Repayment Period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">30 - 59 Days Greater</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">60 - 89 Days Greater</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">90 - 180 Days Greater</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">180+ Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Past Original Expected Repayment Period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">884</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">44</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">28</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">43</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">128</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,012</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the activity in the allowance for merchant loans and advances, interest and fees receivable, for the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="20" rowspan="1"></td></tr><tr><td style="width:33%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Merchant Loans and Advances</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Interest and Fees Receivable</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Allowance</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Merchant Loans and Advances</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Interest and Fees Receivable</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Allowance</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Beginning balance</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">52</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">59</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">28</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">31</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Provisions</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">39</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">45</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">9</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">11</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Charge-offs</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(21</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(23</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(10</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(12</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Recoveries</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Ending balance</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">72</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">11</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">83</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">29</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">32</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For merchant loans and advances, the determination of delinquency, from current to </font><font style="font-family:inherit;font-size:10pt;">180</font><font style="font-family:inherit;font-size:10pt;"> days past due, is based on the current expected or contractual repayment period of the loan or advance and fixed interest or fee payment as compared to the original expected or contractual repayment period. For Swift business loans, we charge off the receivable when the repayments are </font><font style="font-family:inherit;font-size:10pt;">180</font><font style="font-family:inherit;font-size:10pt;"> days past due. For PPWC product, we charge off the receivable when the repayments are </font><font style="font-family:inherit;font-size:10pt;">180</font><font style="font-family:inherit;font-size:10pt;"> days past our expectation of repayments and the merchant has not made a payment in the last </font><font style="font-family:inherit;font-size:10pt;">60</font><font style="font-family:inherit;font-size:10pt;"> days or when the repayments are </font><font style="font-family:inherit;font-size:10pt;">360</font><font style="font-family:inherit;font-size:10pt;"> days past due regardless of whether or not the merchant has made a payment within the last </font><font style="font-family:inherit;font-size:10pt;">60</font><font style="font-family:inherit;font-size:10pt;"> days. Bankrupt accounts are charged off within </font><font style="font-family:inherit;font-size:10pt;">60</font><font style="font-family:inherit;font-size:10pt;"> days of receiving notification of bankruptcy. The provision for loan losses is recognized in transaction and loan losses, and the provisions for interest and fees receivable is recognized in deferred revenues included in other current liabilities in our condensed consolidated balance sheet. Charge-offs that are recovered are recorded as a reduction to our allowance for loans and interest receivable.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:174%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Business Combinations</font></div><div style="line-height:174%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There were no acquisitions or divestitures completed in either the three months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> or </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Recent Accounting Guidance</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2016, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued new accounting guidance related to accounting for leases, which will require lessees to recognize lease assets and lease liabilities on the balance sheet for the rights and obligations created by all leases with terms greater than 12 months. As we are not a lessor, other changes in the guidance applicable to lessors do not apply. The guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. We will adopt the new guidance on January 1, 2019, using a modified retrospective basis and anticipate applying the optional practical expedients related to the transition. We are evaluating the impact of adopting this new accounting guidance on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2016, the FASB issued new guidance on the measurement of credit losses on financial instruments. Credit losses on loans, trade and other receivables, held-to-maturity debt securities and other instruments will reflect our current estimate of the expected credit losses that generally will result in the earlier recognition of allowances for losses. Credit losses on available-for-sale debt securities with unrealized losses will be recognized as allowances for credit losses limited to the amount by which fair value is below amortized cost. Additional disclosures will be required, including information used to track credit quality by year of origination for most financing receivables. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted.&#160;We are required to apply the provisions of this guidance as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted with impairment of available-for-sale debt securities applied prospectively after adoption. We are evaluating the impact and approach to adopting this new accounting guidance on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2017, the FASB issued new guidance that requires certain premiums on callable debt securities to be amortized to the earliest call date. The amortization period for callable debt securities purchased at a discount will not be impacted.&#160; Therefore, the new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted.&#160;Transition is on a modified retrospective basis with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We are evaluating the impact this new accounting guidance will have on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2018, the FASB issued new guidance in response to tax reform that allows the option to reclassify stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017 (the "Tax Act") from accumulated other comprehensive income to retained earnings. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. If such an option is elected, transition can be applied either retrospectively to each period in which the effect of tax reform is recognized or applied with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We are evaluating the impact this new accounting guidance will have on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Recently Adopted Accounting Guidance</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2014, the FASB issued new accounting guidance related to revenue recognition, which was further updated in 2016 for reporting revenue gross versus net. This new guidance replaced all existing GAAP guidance on this topic and eliminated all industry-specific guidance. The new revenue recognition guidance provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. We adopted the guidance effective January 1, 2018 on a full retrospective basis. We performed an impact analysis for the opening balance sheet as of January 1, 2016 as well as for the years ended December 31, 2016 and 2017. The impacts were deemed de minimis. No practical expedients or exemptions were elected in conjunction with the adoption of this new guidance. For additional information, see "Note 2&#8212;Revenue."</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2016, the FASB issued new accounting guidance related to the classification and measurement of financial instruments. This new guidance amends GAAP by requiring equity investments to be measured at fair value with changes in fair value recognized in net income. This new guidance also amends the presentation of certain fair value changes for financial liabilities measured at fair value and it amends certain disclosure requirements associated with the fair value of financial instruments. Additionally, in 2018, the FASB issued technical corrections and improvements to this guidance effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years beginning after June 15, 2018. We are required to apply the new guidance on a modified retrospective basis to all outstanding instruments, with a cumulative effect adjustment as of the date of adoption and on a prospective basis to all outstanding equity investments without a readily determinable fair value. We adopted the guidance, including early adoption of the technical corrections and improvements, effective January 1, 2018. Beginning in the first quarter of 2018, we applied the measurement alternative to all our equity investments, which required us to measure these equity investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment in the same issuer. The adoption of this guidance did not have a material impact on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2016, the FASB issued new guidance on classifying certain cash receipts and cash payments on the statement of cash flows. The new guidance addresses the classification of cash flows related to: debt prepayment or extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance, including bank-owned life insurance, distributions received from equity method investees and beneficial interests in securitization transactions. The guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The guidance should be applied retrospectively after adoption. We adopted the guidance effective January 1, 2018. The adoption of this guidance did not have a material impact on our financial statements.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2016, the FASB issued new guidance on restricted cash on the statement of cash flows. The new guidance requires the classification and presentation of changes in restricted cash and cash equivalents in the statement of cash flows. Therefore, amounts generally described as&#160;restricted cash&#160;and&#160;restricted cash&#160;equivalents should be included with cash and cash equivalents when reconciling the beginning and ending balances shown on the statement of cash flows. The guidance should be applied retrospectively after adoption. We adopted the guidance effective January 1, 2018 on a retrospective basis. The beginning and ending balances of cash and cash equivalents on the statement of cash flows now include restricted cash and restricted cash equivalents, such as cash and cash equivalents underlying customer accounts and restricted cash and restricted cash equivalents within short-term investments. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2017, the FASB issued new guidance clarifying the scope and application of the de-recognition of non-financial assets and the sale or transfer of non-financial assets, including partial sales. We adopted the guidance effective January 1, 2018 on a full retrospective basis. The adoption of this guidance did not have a material impact on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2017, the FASB issued new guidance clarifying which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Specifically, an entity would apply modification accounting only if the fair value, vesting conditions, or classification of the awards changes as a result of changes in the terms or conditions. We adopted the guidance effective January 1, 2018 and applied it prospectively upon adoption. The adoption of this guidance did not have a material impact on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2017, the FASB issued new guidance intended to better align the results of hedge accounting with an entity&#8217;s risk management activities. This guidance updates the designation and measurement guidance for qualifying hedging relationships by expanding hedge accounting for both nonfinancial and financial risk components and by refining the measurement of hedge results to better reflect an entity&#8217;s hedging strategies. The amendments will also align the recognition and presentation of the effects of the hedge results in the financial statements to increase the understandability of the results of an entity&#8217;s intended hedging strategies. Additionally, the guidance includes certain targeted improvements to ease the operational burden of applying hedge accounting. We are required to apply the guidance with a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year in which the guidance is adopted and prospectively apply the presentation and disclosure guidance. We early adopted the guidance in the first quarter of 2018 using a modified retrospective approach to reflect application of the new guidance effective January 1, 2018. Adoption of the guidance did not have a material impact on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2018, the FASB issued new guidance to provide clarity around application of income tax accounting in situations where the assessment of tax implications of the Tax Act might not be complete as of period end in which the Tax Act was enacted. This guidance prescribes that an entity must reflect the income tax impact of the Tax Act in the period in which the tax accounting is complete and allows an entity to report provisional amounts for those specific effects of the Act for which the accounting is incomplete but a reasonable estimate can be determined. No provisional amounts should be reported for specific effects of the Tax Act for which a reasonable estimate cannot be determined, and the entity should continue to apply the provisions of the tax laws that were in effect prior to the enactment of the Tax Act. It further allows a measurement period of one year from the date of enactment within which to complete the accounting for all impacts of the Tax Act. Our financial statements reflect tax accounting in compliance with this guidance.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Overview and Summary of Significant Accounting Policies</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Overview and Organization</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PayPal Holdings, Inc. ("PayPal," the "Company," "we," "us," or "our") was incorporated in Delaware in January 2015 and is a leading technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Our vision is to democratize financial services, as we believe that managing and moving money is a right for all people, not just the affluent. Our goal is to increase our relevance for consumers and merchants to manage and move their money anywhere in the world, anytime, on any platform and using any device. We also facilitate person-to-person payments through our PayPal, Venmo and Xoom products. Our combined payment solutions, including&#160;our PayPal, PayPal Credit, Braintree, Venmo, and Xoom products, compose our proprietary Payments Platform. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We operate globally and in a rapidly evolving regulatory environment characterized by a heightened regulatory focus on all aspects of the payments industry. That focus continues to become even more heightened as regulators on a global basis focus on such important issues as countering terrorist financing, anti-money laundering, privacy and consumer protection. Some of the laws and regulations to which we are subject were enacted recently, and the laws and regulations applicable to us, including those enacted prior to the advent of digital and mobile payments, are continuing to evolve through legislative and regulatory action and judicial interpretation. Non-compliance with laws and regulations, increased penalties and enforcement actions related to non-compliance, changes in laws and regulations or their interpretation, and the enactment of new laws and regulations applicable to us could have a material adverse impact on our business, results of operations and financial condition. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Significant Accounting Policies</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Basis of Presentation and Principles of Consolidation</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The condensed consolidated financial statements include the financial statements of PayPal and our wholly and majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Investments in entities where we hold less than a 20% ownership interest are generally accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes, and our share of the investees&#8217; results of operations and is included in other income (expense), net on our condensed consolidated statement of income to the extent dividends are received. Our investment balance is included in long-term investments on our condensed consolidated balance sheet. </font></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These condensed consolidated financial statements and accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;"> (the "</font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;"> Form 10-K") filed with the Securities and Exchange Commission.</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the opinion of management, these condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for fair presentation of the condensed consolidated financial statements for interim periods. We have evaluated all subsequent events through the date the financial statements were issued. Certain amounts for prior years have been reclassified to conform to the financial presentation as of and for the three months ended March 31, 2018.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses, during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to provisions for transaction and loan losses, loss contingencies, income taxes, revenue recognition and the valuation of goodwill and intangible assets. We base our estimates on historical experience and various other assumptions which we believe to be reasonable under the circumstances. Actual results could differ from those estimates. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Recent Accounting Guidance</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2016, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued new accounting guidance related to accounting for leases, which will require lessees to recognize lease assets and lease liabilities on the balance sheet for the rights and obligations created by all leases with terms greater than 12 months. As we are not a lessor, other changes in the guidance applicable to lessors do not apply. The guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. We will adopt the new guidance on January 1, 2019, using a modified retrospective basis and anticipate applying the optional practical expedients related to the transition. We are evaluating the impact of adopting this new accounting guidance on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2016, the FASB issued new guidance on the measurement of credit losses on financial instruments. Credit losses on loans, trade and other receivables, held-to-maturity debt securities and other instruments will reflect our current estimate of the expected credit losses that generally will result in the earlier recognition of allowances for losses. Credit losses on available-for-sale debt securities with unrealized losses will be recognized as allowances for credit losses limited to the amount by which fair value is below amortized cost. Additional disclosures will be required, including information used to track credit quality by year of origination for most financing receivables. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted.&#160;We are required to apply the provisions of this guidance as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted with impairment of available-for-sale debt securities applied prospectively after adoption. We are evaluating the impact and approach to adopting this new accounting guidance on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2017, the FASB issued new guidance that requires certain premiums on callable debt securities to be amortized to the earliest call date. The amortization period for callable debt securities purchased at a discount will not be impacted.&#160; Therefore, the new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted.&#160;Transition is on a modified retrospective basis with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We are evaluating the impact this new accounting guidance will have on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2018, the FASB issued new guidance in response to tax reform that allows the option to reclassify stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017 (the "Tax Act") from accumulated other comprehensive income to retained earnings. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. If such an option is elected, transition can be applied either retrospectively to each period in which the effect of tax reform is recognized or applied with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We are evaluating the impact this new accounting guidance will have on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Recently Adopted Accounting Guidance</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2014, the FASB issued new accounting guidance related to revenue recognition, which was further updated in 2016 for reporting revenue gross versus net. This new guidance replaced all existing GAAP guidance on this topic and eliminated all industry-specific guidance. The new revenue recognition guidance provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. We adopted the guidance effective January 1, 2018 on a full retrospective basis. We performed an impact analysis for the opening balance sheet as of January 1, 2016 as well as for the years ended December 31, 2016 and 2017. The impacts were deemed de minimis. No practical expedients or exemptions were elected in conjunction with the adoption of this new guidance. For additional information, see "Note 2&#8212;Revenue."</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2016, the FASB issued new accounting guidance related to the classification and measurement of financial instruments. This new guidance amends GAAP by requiring equity investments to be measured at fair value with changes in fair value recognized in net income. This new guidance also amends the presentation of certain fair value changes for financial liabilities measured at fair value and it amends certain disclosure requirements associated with the fair value of financial instruments. Additionally, in 2018, the FASB issued technical corrections and improvements to this guidance effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years beginning after June 15, 2018. We are required to apply the new guidance on a modified retrospective basis to all outstanding instruments, with a cumulative effect adjustment as of the date of adoption and on a prospective basis to all outstanding equity investments without a readily determinable fair value. We adopted the guidance, including early adoption of the technical corrections and improvements, effective January 1, 2018. Beginning in the first quarter of 2018, we applied the measurement alternative to all our equity investments, which required us to measure these equity investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment in the same issuer. The adoption of this guidance did not have a material impact on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2016, the FASB issued new guidance on classifying certain cash receipts and cash payments on the statement of cash flows. The new guidance addresses the classification of cash flows related to: debt prepayment or extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance, including bank-owned life insurance, distributions received from equity method investees and beneficial interests in securitization transactions. The guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The guidance should be applied retrospectively after adoption. We adopted the guidance effective January 1, 2018. The adoption of this guidance did not have a material impact on our financial statements.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2016, the FASB issued new guidance on restricted cash on the statement of cash flows. The new guidance requires the classification and presentation of changes in restricted cash and cash equivalents in the statement of cash flows. Therefore, amounts generally described as&#160;restricted cash&#160;and&#160;restricted cash&#160;equivalents should be included with cash and cash equivalents when reconciling the beginning and ending balances shown on the statement of cash flows. The guidance should be applied retrospectively after adoption. We adopted the guidance effective January 1, 2018 on a retrospective basis. The beginning and ending balances of cash and cash equivalents on the statement of cash flows now include restricted cash and restricted cash equivalents, such as cash and cash equivalents underlying customer accounts and restricted cash and restricted cash equivalents within short-term investments. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2017, the FASB issued new guidance clarifying the scope and application of the de-recognition of non-financial assets and the sale or transfer of non-financial assets, including partial sales. We adopted the guidance effective January 1, 2018 on a full retrospective basis. The adoption of this guidance did not have a material impact on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2017, the FASB issued new guidance clarifying which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Specifically, an entity would apply modification accounting only if the fair value, vesting conditions, or classification of the awards changes as a result of changes in the terms or conditions. We adopted the guidance effective January 1, 2018 and applied it prospectively upon adoption. The adoption of this guidance did not have a material impact on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2017, the FASB issued new guidance intended to better align the results of hedge accounting with an entity&#8217;s risk management activities. This guidance updates the designation and measurement guidance for qualifying hedging relationships by expanding hedge accounting for both nonfinancial and financial risk components and by refining the measurement of hedge results to better reflect an entity&#8217;s hedging strategies. The amendments will also align the recognition and presentation of the effects of the hedge results in the financial statements to increase the understandability of the results of an entity&#8217;s intended hedging strategies. Additionally, the guidance includes certain targeted improvements to ease the operational burden of applying hedge accounting. We are required to apply the guidance with a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year in which the guidance is adopted and prospectively apply the presentation and disclosure guidance. We early adopted the guidance in the first quarter of 2018 using a modified retrospective approach to reflect application of the new guidance effective January 1, 2018. Adoption of the guidance did not have a material impact on our financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2018, the FASB issued new guidance to provide clarity around application of income tax accounting in situations where the assessment of tax implications of the Tax Act might not be complete as of period end in which the Tax Act was enacted. This guidance prescribes that an entity must reflect the income tax impact of the Tax Act in the period in which the tax accounting is complete and allows an entity to report provisional amounts for those specific effects of the Act for which the accounting is incomplete but a reasonable estimate can be determined. No provisional amounts should be reported for specific effects of the Tax Act for which a reasonable estimate cannot be determined, and the entity should continue to apply the provisions of the tax laws that were in effect prior to the enactment of the Tax Act. It further allows a measurement period of one year from the date of enactment within which to complete the accounting for all impacts of the Tax Act. Our financial statements reflect tax accounting in compliance with this guidance.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present our estimate of the principal amount of merchant loans, advances, interest and fees receivable past their original expected or contractual repayment period. </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="27" rowspan="1"></td></tr><tr><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td colspan="27" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td></tr><tr><td colspan="27" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Within Original Expected Repayment Period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">30 - 59 Days Greater</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">60 - 89 Days Greater</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">90 - 180 Days Greater</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">180+ Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Past Original Expected Repayment Period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,105</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">44</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">28</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">122</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,227</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="27" rowspan="1"></td></tr><tr><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td colspan="27" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td colspan="27" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Within Original Expected Repayment Period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">30 - 59 Days Greater</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">60 - 89 Days Greater</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">90 - 180 Days Greater</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">180+ Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Past Original Expected Repayment Period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">884</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">44</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">28</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">43</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">128</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,012</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the delinquency status of U.S. consumer loans and interest receivable, held for sale. The amounts shown below are based on the number of days past the billing date to the consumer. Current represents balances that are within 30 days of the billing date. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, approximately </font><font style="font-family:inherit;font-size:10pt;">91.9%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">90.6%</font><font style="font-family:inherit;font-size:10pt;">, respectively, of the portfolio of U.S. consumer loans and interest receivable, held for sale was current.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="23" rowspan="1"></td></tr><tr><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2018</font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font></div></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Current</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">30 - 59 Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">60 - 89 Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">90 - 180 Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Past 30 days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,994</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">208</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">88</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">232</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">528</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6,522</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Includes approximately </font><font style="font-family:inherit;font-size:8pt;">$31 million</font><font style="font-family:inherit;font-size:8pt;"> of U.S. consumer loans and interest receivables not designated as held for sale that are fully reserved and are expected to be charged off, and excludes approximately </font><font style="font-family:inherit;font-size:8pt;">$46 million</font><font style="font-family:inherit;font-size:8pt;"> related to accrued unbilled interest. </font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="23" rowspan="1"></td></tr><tr><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2017</font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font></div></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Current</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">30 - 59 Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">60 - 89 Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">90 - 180 Days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Past 30 days</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,800</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">240</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">103</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">258</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">601</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6,401</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Includes approximately </font><font style="font-family:inherit;font-size:8pt;">$50 million</font><font style="font-family:inherit;font-size:8pt;"> of U.S. consumer loans and interest receivables not designated as held for sale that are fully reserved and are expected to be charged off, and excludes approximately </font><font style="font-family:inherit;font-size:8pt;">$47 million</font><font style="font-family:inherit;font-size:8pt;"> related to accrued unbilled interest. </font></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present the delinquency status of the principal amount of international consumer loans and interest receivable. The amounts shown below are based on the number of days past the billing date to the consumer. Current represents balances that are within 30 days of the billing date. Amounts as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;"> represent loans and interest receivable due from consumer accounts excluding amounts classified as held for sale, of which approximately </font><font style="font-family:inherit;font-size:10pt;">95.3%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">96.0%</font><font style="font-family:inherit;font-size:10pt;">, respectively, were current. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="23" rowspan="1"></td></tr><tr><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Current</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">30 - 59 Days Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">60 - 89 Days Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">90 - 180 Days Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">384</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">19</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">403</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="23" rowspan="1"></td></tr><tr><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td colspan="23" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Current</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">30 - 59 Days Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">60 - 89 Days Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">90 - 180 Days Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Past Due</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">313</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">326</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides management's estimate of the maximum potential exposure related to our protection programs as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:70%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Maximum potential exposure</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">173,764</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">165,207</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides the amount of allowance for transaction losses and negative customer balances related to our</font><font style="font-family:inherit;font-size:10pt;color:#0000ff;"> </font><font style="font-family:inherit;font-size:10pt;">protection programs as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Allowance for transaction losses and negative customer balances</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">283</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">266</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides details about reclassifications out of accumulated other comprehensive income (loss) for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11" rowspan="1"></td></tr><tr><td style="width:39%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Details about Accumulated Other Comprehensive</font></div><div style="padding-bottom:1px;text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Income (Loss) Components</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Affected Line Item in the Statement of Income</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Gains (losses) on cash flow hedges-foreign exchange contracts</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(44</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net revenues</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Unrealized gains (losses) on investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other income (expense), net</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(45</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">39</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Income before income taxes</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Income tax expense</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total reclassifications for the period</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(45</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">39</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net income</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Related Party Transactions</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, there were </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> material amounts payable to or amounts receivable from related parties. For all periods presented, there were no material related party transactions.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Restructuring</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the first quarter of 2018 and 2017, management approved strategic reductions of the existing global workforce, which resulted in restructuring charges of </font><font style="font-family:inherit;font-size:10pt;">$25 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$40 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. The reduction approved in the first quarter of 2018 also includes restructuring charges related to the decision to wind down TIO's operations. The reduction and timing of cash payments associated with the 2018 restructuring are expected to be substantially completed by the end of 2018. We incurred employee and severance benefits expenses under the 2017 strategic reduction, which was substantially completed by the end of the year.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the restructuring reserve activity during the three months ended March 31, 2018:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.41520467836257%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:87%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Employee Severance and Benefits</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Accrued liability as of January 1, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Charges </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">25</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Payments</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(2</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Accrued liability as of March 31, 2018</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">25</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Revenue</font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We earn revenue primarily by processing customer transactions on our Payments Platforms and from other value added services. Our revenues are classified into two categories, transaction revenues and revenues from other value added services:</font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Transaction Revenues</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We earn transaction revenues primarily from fees charged to consumers and merchants on a transaction basis. These fees may have a fixed and variable component. The variable component is generally a percentage of the value of the payment amount, and is known at the time the transaction is processed. If the underlying transaction is approved for refund, we reimburse the variable component of the fee. We estimate the amount of fee refunds that will be processed during the quarter and record a provision against our net revenues. The volume of activity processed through our Payments Platform, which results in transaction revenue, is referred to as Total Payments Volume (&#8220;TPV&#8221;). We define TPV as the value of payments, net of reversals, successfully completed&#160;through our Payments Platform or enabled by PayPal via a partner payment solution, not including gateway-exclusive transactions. We earn additional fees on transactions where we perform a currency conversion and when we enable cross-border transactions (i.e., transactions where the merchant and consumer are in different countries). </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our contracts with our customers are usually open ended and can be terminated by either party without a termination penalty after the notice period has lapsed. Therefore, our contracts are defined at the transaction level and do not extend beyond the service already provided. Our contracts renew automatically without significant material rights. Some of our contracts include tiered pricing, based primarily on volume. The fee charged per transaction is adjusted up or down if the volume processed for a specified period is different from prior period defined volumes. We have concluded that this volume-based pricing approach does not constitute a future material right since the discount is within a range typically offered to class of customers with similar volume. We provide account set up and payment-processing services and account for these services as </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> performance obligation satisfied at a point in time when the payment transaction is complete. The transaction price is therefore fully allocated to </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> performance obligation. We deduct our fees from the transaction payment processed. We do not have any capitalized contract costs, and do not carry any contract balances.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We recognize fees charged to our customers primarily on a gross basis as transaction revenue when we are the principal in respect of processing payments. As a principal to the transaction, we bear primary responsibility for the fulfillment of the payment service, contract directly with our customers, control the product specifications and define the value proposal from our services. Further, we have full discretion in determining the fee charged to our customers, and therefore, we bear the full margin risk. We are also responsible for providing customer support. Related transaction costs paid to our payment processors and other financial institutions are recognized as transaction expense. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We provide merchants and consumers with protection programs on substantially all transactions completed through our Payments Platforms, except for transactions using our gateway products. These programs protect both merchants and consumers from loss primarily due to fraud and counterparty performance. Our buyer protection program provides protection to consumers for qualifying purchases by reimbursing the consumer for the full amount of the purchase if a purchased item does not arrive or does not match the seller&#8217;s description. Our seller protection programs provide protection to merchants against claims that a transaction was not authorized by the buyer or claims that an item was not received by covering the seller for the full amount of the payment on eligible sales. These protection programs are considered standard service warranties for which we estimate and record associated costs in transaction and loan losses during the period the payment transaction is processed. </font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenues from</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Other Value Added Services</font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We earn revenues from other value added services which comprise revenue earned through partnerships, subscription fees, gateway fees, and other services that we provide to our consumers and merchants. The contracts for these services cannot usually be terminated by either party without penalty. These contracts typically have </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> performance obligation which is provided and recognized over the term of the contract. The transaction price is generally fixed and known at the end of each reporting period, however, for some agreements, it may be necessary to estimate the transaction price using the expected value method.</font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We recognize revenue received from our financial institution partners on a net basis when we are considered the agent in respect of processing transactions. As we are an agent to the transaction, our financial institution partners directly contract with the end customers and are ultimately responsible for the fulfillment of the services. In an agent relationship, we may have some discretion in determining the fee charged to end customers, but always in conjunction with a financial institution partner. As a result, related costs incurred by our financial institution partners when we are an agent are included as a reduction to the revenue share received.</font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We also earn revenues from interest and fees earned on our loans receivable portfolio, gain on sale of participation interest in certain loans and advances and interest earned on certain PayPal customer account balances. Interest and fees earned on the PayPal credit portfolio of loans receivable are computed and recognized based on contractual interest and fee rates, and are net of any required reserves and amortization of deferred origination costs. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Disaggregation of Revenue </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We determine operating segments based on how our chief operating decision maker (&#8220;CODM&#8221;) manages the business, makes operating decisions around the allocation of resources and evaluates operating performance. Our CODM is our Chief Executive Officer, who reviews our operating results on a consolidated basis. We operate in </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> segment and have </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> reportable segment. Based on the information provided to and reviewed by our CODM, we believe that the nature, amount, timing and uncertainty of our revenue and cash flows and how they are affected by economic factors is most appropriately depicted through our primary geographical markets and type of revenue (transaction and other value added services) categories. Revenues recorded within these categories are earned from similar services for which the nature of associated fees and the related revenue recognition models are substantially the same. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:18px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents our revenues disaggregated by primary geographical markets: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.41520467836257%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:71%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Primary geographical markets</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">United States ("U.S.")</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,023</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,606</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">United Kingdom ("U.K.")</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">392</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">313</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other countries</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,270</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,056</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#cceeff;">Total revenues</font><font style="font-family:inherit;font-size:9pt;background-color:#cceeff;"><sup style="vertical-align:top;line-height:120%;background-color:#cceeff; font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,685</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,975</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Types of revenues</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Transaction revenues</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,197</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,624</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other value added services</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">488</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">351</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total revenues</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,685</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,975</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">No single country included in the other countries category generated more than 10% of total revenue. </font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2) </sup></font><font style="font-family:inherit;font-size:8pt;">Total revenues include interest, fees and gains earned on loan and interest receivables, net and held for sale portfolio, as well as hedging gains or losses and interest earned on certain PayPal customer balances of&#160;</font><font style="font-family:inherit;font-size:8pt;">$359 million</font><font style="font-family:inherit;font-size:8pt;">&#160;and&#160;</font><font style="font-family:inherit;font-size:8pt;">$307 million</font><font style="font-family:inherit;font-size:8pt;">&#160;for the </font><font style="font-family:inherit;font-size:8pt;">three months ended March 31, 2018</font><font style="font-family:inherit;font-size:8pt;">&#160;and&#160;</font><font style="font-family:inherit;font-size:8pt;">2017</font><font style="font-family:inherit;font-size:8pt;">, respectively, which do not represent revenues recognized in the scope of ASC Topic 606, </font><font style="font-family:inherit;font-size:8pt;font-style:italic;">Revenue from contracts with customers</font><font style="font-family:inherit;font-size:8pt;">. </font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net revenues are attributed to the U.S., the U.K. and other countries primarily based upon the country in which the merchant is located, or in the case of a cross-border transaction, may be earned from the country in which the consumer and the merchant respectively reside. Net revenues earned from value added services are typically attributed to the country in which either the customer or partner reside.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2018</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="20" rowspan="1"></td></tr><tr><td style="width:44%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:7%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized Gains (Losses) on Cash Flow Hedges</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized Gains (Losses) on Investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Foreign</font></div><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Currency</font></div><div style="padding-bottom:1px;text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Translation</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Estimated tax benefit</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Beginning balance </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(111</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(12</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(25</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(142</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other comprehensive income (loss) before reclassifications</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(62</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(16</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(72</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Less: Amount of gains (losses) reclassified from accumulated other comprehensive income</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(44</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(45</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net current period other comprehensive income (loss) </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(18</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(15</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(27</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Ending balance </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(129</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(27</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(23</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(169</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="20" rowspan="1"></td></tr><tr><td style="width:44%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:7%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized Gains (Losses) on Cash Flow Hedges</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized Gains (Losses) on Investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;padding-left:1px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Foreign<br clear="none"/>Currency<br clear="none"/>Translation</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Estimated tax benefit</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Beginning balance </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">131</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(68</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">59</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other comprehensive income (loss) before reclassifications</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(32</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(18</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Less: Amount of gains (losses) reclassified from accumulated other comprehensive income</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">40</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">39</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net current period other comprehensive income (loss) </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(72</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(57</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Ending balance </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">59</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(4</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(55</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, the estimated fair value of our investments classified as available-for-sale included within funds receivable and customer accounts was as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amortized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gains</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Losses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Estimated</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair Value</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,962</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,956</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">392</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">391</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7,354</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(7</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7,347</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amortized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gains</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unrealized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Losses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Estimated</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair Value</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5,946</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5,941</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">529</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">529</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,475</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(5</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,470</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the activity of derivative contracts that qualify for hedge accounting as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, and the impact of designated derivative instruments on accumulated other comprehensive income (loss) for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:35%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount&#160;of&#160;gains (losses)</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">recognized in other</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">comprehensive&#160;income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Less: Amount&#160;of gains (losses)</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">reclassified from</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">accumulated other</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">comprehensive&#160;income</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">to net revenue</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts designated as cash flow hedges</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(111</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(62</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(44</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(129</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:35%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount&#160;of&#160;gains (losses)</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">recognized in other</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">comprehensive&#160;income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Less: Amount&#160;of gains (losses)</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">reclassified from</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">accumulated other</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">comprehensive&#160;income</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">to net revenue</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts designated as cash flow hedges</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">131</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(32</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">40</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">59</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides the location in the condensed consolidated statements of income and amount of the recognized gains or losses related to our derivative instruments designated as hedging instruments:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:75%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Revenue</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Revenue</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total amounts presented in the condensed consolidated statement of income in which the effects of cash flow hedges are recorded</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,685</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,975</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Gains (losses) on foreign exchange contracts designated as cash flow hedges reclassified from accumulated other comprehensive income into net income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(44</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides the location in the condensed consolidated statements of income and amount of the recognized gains or losses related to our derivative instruments not designated as hedging instruments:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:75%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Gains (losses) on foreign exchange contracts recognized in other income (expense), net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(44</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Gains (losses) on foreign exchange contracts recognized in net revenues</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(6</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total gains (losses) recognized from foreign exchange contracts not designated as hedging instruments </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(50</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(40</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fair value of our outstanding derivative instruments as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;"> was as follows:</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10" rowspan="1"></td></tr><tr><td style="width:53%;" rowspan="1" colspan="1"></td><td style="width:19%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Balance Sheet Location</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Derivative Assets:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts designated as cash flow hedges</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other current assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts not designated as hedging instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other current assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">51</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">66</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total derivative assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">56</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">66</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Derivative Liabilities:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts designated as cash flow hedges</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other current liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">122</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">94</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts not designated as hedging instruments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other current liabilities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">75</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">124</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total derivative liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">197</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">218</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net fair value of derivative instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(141</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(152</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table sets forth the computation of basic and diluted net income per share for the periods indicated: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:71%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions, except per share amounts)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Numerator:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">511</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">384</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Denominator:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Weighted average shares of common stock - basic</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,192</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,203</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;background-color:#cceeff;">Dilutive effect of equity incentive awards</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">25</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Weighted average shares of common stock - diluted</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,217</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,216</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net income per share:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Basic</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">0.43</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">0.32</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Diluted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">0.42</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">0.32</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Common stock equivalents excluded from income per diluted share because their effect would have been anti-dilutive</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The impact on our results of operations of recording stock-based compensation expense under our equity incentive plans for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and&#160;</font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;"> was as follows: </font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:73%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Customer support and operations</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">38</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">30</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Sales and marketing</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">44</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">28</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Product development</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">64</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">45</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">General and administrative</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">59</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">42</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Depreciation and amortization</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total stock-based compensation expense</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">209</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">147</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Capitalized as part of internal use software and website development costs</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10" rowspan="1"></td></tr><tr><td style="width:64%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Significant&#160;Other<br clear="none"/>Observable&#160;Inputs<br clear="none"/>(Level 2)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="8" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-style:italic;font-weight:bold;">Assets:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Cash and cash equivalents</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,104</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,104</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Short-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,419</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,419</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">728</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">728</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total short-term investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,147</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,147</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Funds receivable and customer accounts</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">9,424</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">9,424</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Derivatives</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">56</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">56</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Long-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,309</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,309</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">88</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">88</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total long-term investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,397</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,397</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total financial assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">15,128</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">15,128</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-style:italic;font-weight:bold;">Liabilities:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Derivatives</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">197</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">197</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes cash of </font><font style="font-family:inherit;font-size:8pt;">$1.8 billion</font><font style="font-family:inherit;font-size:8pt;"> not subject to fair value measurement on a recurring basis.</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes restricted cash of </font><font style="font-family:inherit;font-size:8pt;">$83 million</font><font style="font-family:inherit;font-size:8pt;">, time deposits of </font><font style="font-family:inherit;font-size:8pt;">$199 million</font><font style="font-family:inherit;font-size:8pt;">, and equity investments of </font><font style="font-family:inherit;font-size:8pt;">$88 million</font><font style="font-family:inherit;font-size:8pt;"> not subject to fair value measurement on a recurring basis.</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(3)</sup></font><font style="font-family:inherit;font-size:8pt;"> Excludes cash, time deposits and funds receivable of </font><font style="font-family:inherit;font-size:8pt;">$9.7 billion</font><font style="font-family:inherit;font-size:8pt;"> underlying funds receivable and customer accounts not subject to fair value measurement on a recurring basis.</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10" rowspan="1"></td></tr><tr><td style="width:64%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Significant&#160;Other<br clear="none"/>Observable&#160;Inputs<br clear="none"/>(Level 2)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="8" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-style:italic;font-weight:bold;">Assets:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Cash and cash equivalents</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">791</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">791</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Short-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,219</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,219</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">351</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">351</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total short-term investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,570</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,570</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Funds receivable and customer accounts</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">8,007</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">8,007</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Derivatives</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">66</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">66</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Long-term investments</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font><font style="font-family:inherit;font-size:9pt;">:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Corporate debt securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,773</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,773</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Government and agency securities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">98</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">98</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total long-term investments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,871</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,871</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total financial assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13,305</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13,305</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-style:italic;font-weight:bold;">Liabilities:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Derivatives</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">218</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">218</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes cash of </font><font style="font-family:inherit;font-size:8pt;">$2.1 billion</font><font style="font-family:inherit;font-size:8pt;"> not subject to fair value measurement on a recurring basis. </font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes restricted cash of </font><font style="font-family:inherit;font-size:8pt;">$81 million</font><font style="font-family:inherit;font-size:8pt;">, time deposits of </font><font style="font-family:inherit;font-size:8pt;">$163 million</font><font style="font-family:inherit;font-size:8pt;">, and equity investments of </font><font style="font-family:inherit;font-size:8pt;">$88 million</font><font style="font-family:inherit;font-size:8pt;"> not subject to fair value measurement on a recurring basis.</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(3) </sup></font><font style="font-family:inherit;font-size:8pt;">Excludes cash, time deposits and funds receivable of </font><font style="font-family:inherit;font-size:8pt;">$10.2 billion</font><font style="font-family:inherit;font-size:8pt;"> underlying funds receivable and customer accounts not subject to fair value measurement on a recurring basis.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The components of identifiable intangible assets are as follows:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.41520467836257%;border-collapse:collapse;text-align:left;"><tr><td colspan="28" rowspan="1"></td></tr><tr><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:7%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:7%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:7%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:7%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="13" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="13" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross Carrying Amount</font><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Accumulated Amortization</font><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Net Carrying Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Weighted Average Useful Life (Years)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gross Carrying Amount</font><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Accumulated Amortization</font><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Net Carrying Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Weighted Average Useful Life (Years)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td colspan="27" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions, except years)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Intangible assets:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Customer lists and user base</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">613</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(574</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">39</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">613</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(563</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">50</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Marketing related</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">198</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(197</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">198</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(196</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Developed technologies</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">274</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(227</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">47</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">274</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(215</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">59</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">All other</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">245</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(194</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">51</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">245</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(188</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">57</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Intangible assets, net</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,330</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1,192</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">138</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,330</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1,162</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">168</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents goodwill balances and adjustments to those balances during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">: </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:45%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-align:center;">Goodwill</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;text-align:center;">Acquired</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Adjustments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total goodwill</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,339</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,338</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides the notional amounts of our outstanding derivatives:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts designated as cash flow hedges</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,309</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,639</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Foreign exchange contracts not designated as hedging instruments</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">6,515</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5,669</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">9,824</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">8,308</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the restructuring reserve activity during the three months ended March 31, 2018:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.41520467836257%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:87%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Employee Severance and Benefits</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Accrued liability as of January 1, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Charges </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">25</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Payments</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(2</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Accrued liability as of March 31, 2018</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">25</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes long-lived assets based on geography: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:73%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Long-lived assets:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">U.S.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,422</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,432</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other countries</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">101</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">96</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total long-lived assets</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,523</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,528</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the RSU and PBRSU activity under our equity incentive plans for the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended&#160;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3" rowspan="1"></td></tr><tr><td style="width:84%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:12px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Outstanding at January 1, 2018</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">33,875</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Awarded</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">12,103</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Vested</font><font style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(9,663</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Forfeited</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(484</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Outstanding at March&#160;31, 2018</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">35,831</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Expected to vest</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">30,871</font></div></td><td style="vertical-align:bottom;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) </sup></font><font style="font-family:inherit;font-size:8pt;">Includes approximately </font><font style="font-family:inherit;font-size:8pt;">2.1 million</font><font style="font-family:inherit;font-size:8pt;"> additional PBRSUs issued due to company performance in connection with the Company's 2017 annual incentive plan. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The stock repurchase activity under the April 2017 stock repurchase program during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> is summarized as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="15" rowspan="1"></td></tr><tr><td style="width:36%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Shares Repurchased</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Average Price <br clear="none"/>Paid per Share</font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) (2)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Cash Paid for Shares Repurchased</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Remaining Amount Authorized</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="14" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions, except per share amounts)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Balance as of January 1, 2018</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,999</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Repurchases of shares of common stock in the open market</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10.8</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">76.82</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">825</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,174</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Repurchases of shares of common stock under the ASR agreement</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">12.8</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">78.03</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,174</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Balance as of March 31, 2018</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">23.6</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,825</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,174</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font><font style="font-family:inherit;font-size:8pt;">Average price paid per share for open market purchases includes broker commissions.</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2) </sup></font><font style="font-family:inherit;font-size:8pt;">Average price paid per share under the ASR agreement represents the volume-weighted average share price, less a discount and adjustments pursuant to the terms of the agreement. Treasury stock recorded for repurchases under the ASR agreement amounts to </font><font style="font-family:inherit;font-size:8pt;">$985 million</font><font style="font-family:inherit;font-size:8pt;">.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expected future intangible asset amortization as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> was as follows (in millions):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:87%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Fiscal years:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Remaining 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">69</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2019</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">42</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2020</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">27</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">138</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Geographical Information</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes long-lived assets based on geography: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:73%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Long-lived assets:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">U.S.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,422</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,432</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Other countries</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">101</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">96</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Total long-lived assets</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,523</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,528</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tangible long-lived assets as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;"> consisted of property and equipment. Long-lived assets attributed to the U.S. and other countries are based upon the country in which the asset is located or owned.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Stock Repurchase Programs</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2017, our Board of Directors authorized a stock repurchase program that provides for the repurchase of up to </font><font style="font-family:inherit;font-size:10pt;">$5 billion</font><font style="font-family:inherit;font-size:10pt;"> of our common stock, with no expiration from the date of authorization. The stock repurchase program is intended to offset the impact of dilution from our equity compensation programs and, subject to market conditions and other factors, may also be used to make opportunistic repurchases of our common stock to reduce outstanding share count.&#160;Any share repurchases under our stock repurchase program may be made through open market transactions, block trades, privately negotiated transactions including accelerated share repurchase agreements or other means at times and in such amounts as management deems appropriate and will be funded from our working capital or other financing alternatives. However, any stock repurchases are subject to market conditions and other uncertainties and we cannot predict if or when any stock repurchases will be made. Moreover, we may terminate our stock repurchase program at any time without notice. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2018, we entered into an accelerated share repurchase ("ASR") agreement with an unrelated third party financial institution to repurchase shares of our common stock. Under the terms of the ASR agreement, we made an upfront payment of approximately </font><font style="font-family:inherit;font-size:10pt;">$1.0 billion</font><font style="font-family:inherit;font-size:10pt;"> to the third party financial institution and received approximately </font><font style="font-family:inherit;font-size:10pt;">12.8 million</font><font style="font-family:inherit;font-size:10pt;"> shares of our common stock during the term of the transaction, which ended in March 2018. The total number of shares of our common stock repurchased was based on the volume-weighted average share price of our common stock during the term of the transaction, less a discount and subject to adjustments pursuant to the terms of the applicable ASR agreement.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We recorded the initial payment of </font><font style="font-family:inherit;font-size:10pt;">$1.0 billion</font><font style="font-family:inherit;font-size:10pt;"> as a reduction to stockholders' equity on our condensed consolidated balance sheet. All common stock received was recorded as treasury stock and the forward contract indexed to our own common stock met all applicable criteria for equity classification. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The stock repurchase activity under the April 2017 stock repurchase program during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;"> is summarized as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="15" rowspan="1"></td></tr><tr><td style="width:36%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Shares Repurchased</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Average Price <br clear="none"/>Paid per Share</font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1) (2)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Cash Paid for Shares Repurchased</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Remaining Amount Authorized</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="14" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions, except per share amounts)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Balance as of January 1, 2018</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,999</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Repurchases of shares of common stock in the open market</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">10.8</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">76.82</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">825</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,174</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Repurchases of shares of common stock under the ASR agreement</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">12.8</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">78.03</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,174</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Balance as of March 31, 2018</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">23.6</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,825</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,174</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font><font style="font-family:inherit;font-size:8pt;">Average price paid per share for open market purchases includes broker commissions.</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2) </sup></font><font style="font-family:inherit;font-size:8pt;">Average price paid per share under the ASR agreement represents the volume-weighted average share price, less a discount and adjustments pursuant to the terms of the agreement. Treasury stock recorded for repurchases under the ASR agreement amounts to </font><font style="font-family:inherit;font-size:8pt;">$985 million</font><font style="font-family:inherit;font-size:8pt;">.</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These repurchased shares of common stock were recorded as treasury stock for purposes of calculating earnings per share, and were accounted for under the cost method. </font><font style="font-family:inherit;font-size:10pt;">No</font><font style="font-family:inherit;font-size:10pt;"> repurchased shares of common stock have been retired.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses, during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to provisions for transaction and loan losses, loss contingencies, income taxes, revenue recognition and the valuation of goodwill and intangible assets. We base our estimates on historical experience and various other assumptions which we believe to be reasonable under the circumstances. Actual results could differ from those estimates. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> EX-101.SCH 7 pypl-20180331.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2144100 - Disclosure - Accumulated Other Comprehensive Income (Loss) link:presentationLink link:calculationLink link:definitionLink 2444403 - Disclosure - Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Other Accumulated Other Comprehensive Income (Loss) (Details) link:presentationLink link:calculationLink link:definitionLink 2444402 - Disclosure - Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income (Loss) Balances (Details) link:presentationLink link:calculationLink link:definitionLink 2444402 - Disclosure - Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income (Loss) Balances (Details) link:presentationLink link:calculationLink link:definitionLink 2344301 - Disclosure - Accumulated Other Comprehensive Income (Loss) (Tables) link:presentationLink link:calculationLink link:definitionLink 2110100 - Disclosure - Business Combinations link:presentationLink link:calculationLink link:definitionLink 2134100 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 2434402 - Disclosure - Commitments and Contingencies - Additional Information (Details) link:presentationLink link:calculationLink link:definitionLink 2434403 - Disclosure - Commitments and Contingencies - Estimate of the Maximum Potential Exposure and Allowance for Transaction Losses Related to Protection Products (Details) link:presentationLink link:calculationLink link:definitionLink 2334301 - Disclosure - Commitments and Contingencies (Tables) link:presentationLink link:calculationLink link:definitionLink 1001000 - Statement - CONDENSED CONSOLIDATED BALANCE SHEET link:presentationLink link:calculationLink link:definitionLink 1001001 - Statement - CONDENSED CONSOLIDATED BALANCE SHEET (PARENTHETICAL) link:presentationLink link:calculationLink link:definitionLink 1004000 - Statement - CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS link:presentationLink link:calculationLink link:definitionLink 1003000 - Statement - CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME link:presentationLink link:calculationLink link:definitionLink 1002000 - Statement - CONDENSED CONSOLIDATED STATEMENT OF INCOME link:presentationLink link:calculationLink link:definitionLink 2128100 - Disclosure - Derivative Instruments link:presentationLink link:calculationLink link:definitionLink 2428402 - Disclosure - Derivative Instruments - Additional Information (Details) link:presentationLink link:calculationLink link:definitionLink 2428404 - Disclosure - Derivative Instruments - Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) (Details) link:presentationLink link:calculationLink link:definitionLink 2428405 - Disclosure - Derivative Instruments - Effect of Derivative Contracts on Condensed Consolidated Statements of Income (Details) link:presentationLink link:calculationLink link:definitionLink 2428403 - Disclosure - Derivative Instruments - Fair Value of Outstanding Derivative Instruments (Details) link:presentationLink link:calculationLink link:definitionLink 2428406 - Disclosure - Derivative Instruments - Schedule of Notional Amounts of Outstanding Derivatives (Details) link:presentationLink link:calculationLink link:definitionLink 2328301 - Disclosure - Derivative Instruments (Tables) link:presentationLink link:calculationLink link:definitionLink 0001000 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 2125100 - Disclosure - Fair Value Measurement of Assets and Liabilities link:presentationLink link:calculationLink link:definitionLink 2425403 - Disclosure - Fair Value Measurement of Assets and Liabilities - Additional Information (Details) link:presentationLink link:calculationLink link:definitionLink 2425402 - Disclosure - Fair Value Measurement of Assets and Liabilities - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) link:presentationLink link:calculationLink link:definitionLink 2325301 - Disclosure - Fair Value Measurement of Assets and Liabilities (Tables) link:presentationLink link:calculationLink link:definitionLink 2119100 - Disclosure - Funds Receivable and Customer Accounts link:presentationLink link:calculationLink link:definitionLink 2419404 - Disclosure - Funds Receivable and Customer Accounts - Additional Information (Details) link:presentationLink link:calculationLink link:definitionLink 2419402 - Disclosure - Funds Receivable and Customer Accounts - Assets Underlying Funds Receivable and Customer Accounts (Details) link:presentationLink link:calculationLink link:definitionLink 2419403 - Disclosure - Funds Receivable and Customer Accounts - Estimated Fair Value of Investments Classified as Available for Sale (Details) link:presentationLink link:calculationLink link:definitionLink 2419405 - Disclosure - Funds Receivable and Customer Accounts - Estimated Fair Values of Investments Classified as Available for Sale by Contractual Maturity (Details) link:presentationLink link:calculationLink link:definitionLink 2319301 - Disclosure - Funds Receivable and Customer Accounts (Tables) link:presentationLink link:calculationLink link:definitionLink 2116100 - Disclosure - Geographical Information link:presentationLink link:calculationLink link:definitionLink 2416402 - Disclosure - Geographical Information (Details) link:presentationLink link:calculationLink link:definitionLink 2316301 - Disclosure - Geographical Information (Tables) link:presentationLink link:calculationLink link:definitionLink 2113100 - Disclosure - Goodwill and Intangible Assets link:presentationLink link:calculationLink link:definitionLink 2413404 - Disclosure - Goodwill and Intangible Assets - Additional Information (Details) link:presentationLink link:calculationLink link:definitionLink 2413403 - Disclosure - Goodwill and Intangible Assets - Components of Identifiable Intangible Assets (Details) link:presentationLink link:calculationLink link:definitionLink 2413405 - Disclosure - Goodwill and Intangible Assets - Expected Future Intangible Asset Amortization (Details) link:presentationLink link:calculationLink link:definitionLink 2413402 - Disclosure - Goodwill and Intangible Assets - Goodwill Balances and Adjustments (Details) link:presentationLink link:calculationLink link:definitionLink 2313301 - Disclosure - Goodwill and Intangible Assets (Tables) link:presentationLink link:calculationLink link:definitionLink 2142100 - Disclosure - Income Taxes link:presentationLink link:calculationLink link:definitionLink 2442401 - Disclosure - Income Taxes (Details) link:presentationLink link:calculationLink link:definitionLink 2122100 - Disclosure - Investments link:presentationLink link:calculationLink link:definitionLink 2422403 - Disclosure - Investments - Additional Information (Details) link:presentationLink link:calculationLink link:definitionLink 2422404 - Disclosure - Investments - Estimated Fair Values of Investments Classified as Available for Sale by Date of Contractual Maturity (Details) link:presentationLink link:calculationLink link:definitionLink 2422402 - Disclosure - Investments - Estimated Fair Values of Investments Classified as Available for Sale (Details) link:presentationLink link:calculationLink link:definitionLink 2322301 - Disclosure - Investments (Tables) link:presentationLink link:calculationLink link:definitionLink 2129100 - Disclosure - Loans and Interest Receivable link:presentationLink link:calculationLink link:definitionLink 2429402 - Disclosure - Loans and Interest Receivable - Additional Information (Details) link:presentationLink link:calculationLink link:definitionLink 2429409 - Disclosure - Loans and Interest Receivable - Allowance for Loans and Interest Receivable (Details) link:presentationLink link:calculationLink link:definitionLink 2429405 - Disclosure - Loans and Interest Receivable - Delinquency Status of the Principal Amount of Loans and Interest Receivables (Details) link:presentationLink link:calculationLink link:definitionLink 2429403 - Disclosure - Loans and Interest Receivable - Loans and Interest Receivable, Held for Sale (Details) link:presentationLink link:calculationLink link:definitionLink 2429406 - Disclosure - Loans and Interest Receivable - Loans and Interest Receivable, Net (Details) link:presentationLink link:calculationLink link:definitionLink 2429404 - Disclosure - Loans and Interest Receivable - Loans and Interest Receivables by FICO Score (Details) link:presentationLink link:calculationLink link:definitionLink 2429410 - Disclosure - Loans and Interest Receivable - Merchant Receivable Delinquency and Allowance (Details) link:presentationLink link:calculationLink link:definitionLink 2429407 - Disclosure - Loans and Interest Receivable - Merchant Receivables (Details) link:presentationLink link:calculationLink link:definitionLink 2429408 - Disclosure - Loans and Interest Receivable - Swift Merchant Loans and Advance Receivables (Details) link:presentationLink link:calculationLink link:definitionLink 2329301 - Disclosure - Loans and Interest Receivable (Tables) link:presentationLink link:calculationLink link:definitionLink 2107100 - Disclosure - Net Income Per Share link:presentationLink link:calculationLink link:definitionLink 2407402 - Disclosure - Net Income Per Share - Computation of Basic and Diluted Earnings per Share (Details) link:presentationLink link:calculationLink link:definitionLink 2307301 - Disclosure - Net Income Per Share (Tables) link:presentationLink link:calculationLink link:definitionLink 2131100 - Disclosure - Notes Payable link:presentationLink link:calculationLink link:definitionLink 2431401 - Disclosure - Notes Payable (Details) link:presentationLink link:calculationLink link:definitionLink 2101100 - Disclosure - Overview and Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 2201201 - Disclosure - Overview and Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 2137100 - Disclosure - Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 2437401 - Disclosure - Related Party Transactions (Details) link:presentationLink link:calculationLink link:definitionLink 2143100 - Disclosure - Restructuring link:presentationLink link:calculationLink link:definitionLink 2443402 - Disclosure - Restructuring - Restructuring Costs (Details) link:presentationLink link:calculationLink link:definitionLink 2443403 - Disclosure - Restructuring - Restructuring Reserve Activity (Details) link:presentationLink link:calculationLink link:definitionLink 2343301 - Disclosure - Restructuring (Tables) link:presentationLink link:calculationLink link:definitionLink 2104100 - Disclosure - Revenue link:presentationLink link:calculationLink link:definitionLink 2404402 - Disclosure - Revenue - Additional Information (Details) link:presentationLink link:calculationLink link:definitionLink 2404403 - Disclosure - Revenue - Disaggregation of Revenue (Details) link:presentationLink link:calculationLink link:definitionLink 2304301 - Disclosure - Revenue (Tables) link:presentationLink link:calculationLink link:definitionLink 2141100 - Disclosure - Stock-Based Plans link:presentationLink link:calculationLink link:definitionLink 2441402 - Disclosure - Stock-Based Plans - Additional Information (Details) link:presentationLink link:calculationLink link:definitionLink 2441404 - Disclosure - Stock-Based Plans - Schedule of Stock-Based Compensation Expense (Details) link:presentationLink link:calculationLink link:definitionLink 2441403 - Disclosure - Stock-Based Plans - Summary of Restricted Stock Units and Performance-Based Restricted Stock Units (Details) link:presentationLink link:calculationLink link:definitionLink 2341301 - Disclosure - Stock-Based Plans (Tables) link:presentationLink link:calculationLink link:definitionLink 2140100 - Disclosure - Stock Repurchase Programs link:presentationLink link:calculationLink link:definitionLink 2440402 - Disclosure - Stock Repurchase Programs (Details) link:presentationLink link:calculationLink link:definitionLink 2340301 - Disclosure - Stock Repurchase Programs (Tables) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 8 pypl-20180331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 9 pypl-20180331_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 10 pypl-20180331_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Disclosure of Compensation Related Costs, Share-based Payments [Abstract] Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table] Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table] Award Type [Axis] Award Type [Axis] Equity Award [Domain] Equity Award [Domain] Restricted Stock Units (RSUs) And Performance Shares Restricted Stock Units (RSUs) And Performance Shares [Member] Restricted Stock Units (RSUs) And Performance Shares [Member] Performance Shares Performance Shares [Member] Plan Name [Axis] Plan Name [Axis] Plan Name [Domain] Plan Name [Domain] 2017 Annual Incentive Plan Annual Incentive Plan 2017 [Member] Annual Incentive Plan 2017 [Member] Share-based Compensation Arrangement by Share-based Payment Award [Line Items] Share-based Compensation Arrangement by Share-based Payment Award [Line Items] Restricted stock units Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] Outstanding balance, beginning of period (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number Awarded (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period Vested (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period Forfeited (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period Outstanding balance, end of period (in shares) Expected to vest at the end of period (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected To Vest, Number Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expected To Vest, Number Fair Value Disclosures [Abstract] Summary of financial assets and liabilities measured at fair value on a recurring basis Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] Document and Entity Information [Abstract] Document and Entity Information [Abstract] Entity Registrant Name Entity Registrant Name Entity Trading Symbol Trading Symbol Entity Central Index Key Entity Central Index Key Current Fiscal Year End Date Current Fiscal Year End Date Entity Filer Category Entity Filer Category Document Type Document Type Document Period End Date Document Period End Date Document Fiscal Year Focus Document Fiscal Year Focus Document Fiscal Period Focus Document Fiscal Period Focus Amendment Flag Amendment Flag Entity Common Stock, Shares Outstanding (in shares) Entity Common Stock, Shares Outstanding Debt Disclosure [Abstract] Notes Payable Debt Disclosure [Text Block] Statement of Comprehensive Income [Abstract] Net income Net Income (Loss) Attributable to Parent Other comprehensive (loss) income, net of reclassification adjustments: Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract] Foreign currency translation Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax Unrealized (losses) gains on investments, net Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax Tax benefit (expense) on unrealized (losses) gains on investments, net Other Comprehensive Income (Loss), Available-for-sale Securities, Tax Unrealized (losses) gains on hedging activities, net Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax Tax benefit (expense) on unrealized (losses) gains on hedging activities, net Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax Other comprehensive (loss) income, net of tax Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent Comprehensive income Comprehensive Income (Loss), Net of Tax, Attributable to Parent Goodwill and Intangible Assets Disclosure [Abstract] Goodwill and Intangible Assets Goodwill and Intangible Assets Disclosure [Text Block] Goodwill balances and adjustments Schedule of Goodwill [Table Text Block] Components of identifiable intangible assets Schedule of Finite-Lived Intangible Assets [Table Text Block] Expected future intangible asset amortization Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] Investments, Debt and Equity Securities [Abstract] Fair Value, Option, Quantitative Disclosures [Table] Fair Value, Option, Quantitative Disclosures [Table] Financial Instrument [Axis] Financial Instrument [Axis] Financial Instruments [Domain] Financial Instruments [Domain] Fair Value Option, Foreign Currency Denominated Investments Fair Value Option, Foreign Currency Denominated Investments [Member] Fair Value Option, Foreign Currency Denominated Investments [Member] Income Statement Location [Axis] Income Statement Location [Axis] Income Statement Location [Domain] Income Statement Location [Domain] Other Income (Expense) Other Nonoperating Income (Expense) [Member] Major Types of Debt and Equity Securities [Axis] Major Types of Debt and Equity Securities [Axis] Major Types of Debt and Equity Securities [Domain] Major Types of Debt and Equity Securities [Domain] Corporate debt securities Corporate Debt Securities [Member] Fair Value, Option, Quantitative Disclosures [Line Items] Fair Value, Option, Quantitative Disclosures [Line Items] Estimated fair value Available-for-sale Securities Net gains from fair value changes Fair Value, Option, Changes in Fair Value, Gain (Loss) Available-for-sale securities, accumulated gross unrealized loss Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax Available-for-sale securities, accumulated gross unrealized loss, greater than twelve months Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value Equity Investments measured at cost minus impairment Equity Investments Measured At Cost Minus Impairment Equity investments of less than 20% measured at cost minus impairment, if any, plus or minus changes resulting from observable price changes, and our share of the investees’ results of operations. Equity [Abstract] Stock Repurchase Programs Treasury Stock [Text Block] Revenue from Contract with Customer [Abstract] Disaggregation of Revenue [Table] Disaggregation of Revenue [Table] Products and Services [Axis] Products and Services [Axis] Products and Services [Domain] Products and Services [Domain] Transactions Transaction Revenue [Member] Transaction Revenue [Member] Other value added services Other Value Added Services [Member] Other Value Added Services [Member] Disaggregation of Revenue [Line Items] Disaggregation of Revenue [Line Items] Number of performance obligations Number Of Performance Obligations Number Of Performance Obligations Number of operating segments Number of Operating Segments Number of reportable segments Number of Reportable Segments Accumulated Other Comprehensive Income (Loss) Comprehensive Income (Loss) Note [Text Block] Stock-Based Plans Disclosure of Compensation Related Costs, Share-based Payments [Text Block] Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table] Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table] Customer support and operations Customer Support And Operations [Member] Customer Support And Operations [Member] Sales and marketing Selling and Marketing Expense [Member] Product development Research and Development Expense [Member] General and administrative General and Administrative Expense [Member] Depreciation and amortization Depreciation And Amortization [Member] Depreciation And Amortization [Member] Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] Stock-based compensation expense Allocated Share-based Compensation Expense Capitalized as part of internal use software and website development costs Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount Receivables [Abstract] Schedule of Accounts, Notes, Loans and Financing Receivable [Table] Schedule of Accounts, Notes, Loans and Financing Receivable [Table] Financing Receivable Portfolio Segment [Axis] Financing Receivable Portfolio Segment [Axis] Financing Receivable Portfolio Segment [Domain] Financing Receivable Portfolio Segment [Domain] Merchant Receivables Commercial Portfolio Segment [Member] Swift Business Loan Products Swift Business Loan Products [Member] Swift Business Loan Products [Member] Accounts, Notes, Loans and Financing Receivable [Line Items] Accounts, Notes, Loans and Financing Receivable [Line Items] Threshold period, write-off of receivables Threshold Period Past Due for Write-off of Financing Receivable Threshold period, exceeding expected period of repayment for write-off of financing receivable Financing Receivable, Terms, Threshold Period Exceeding Expected Period Of Repayment For Write-Off Of Financing Receivable Financing Receivable, Terms, Threshold Period Exceeding Expected Period Of Repayment For Write-Off Of Financing Receivable Expected period of repayment Financing Receivable, Terms, Expected Period Of Repayment Financing Receivable, Terms, Expected Period Of Repayment Threshold period, write-off of receivables, nonpayment Threshold Period Past Due For Write-Off Of Financing Receivable, Non-Payment Threshold Period Past Due For Write-Off Of Financing Receivable, Non-Payment Threshold period two, write-off of receivables Threshold Period Past Due for Write-Off Of Financing Receivable, Threshold Two Threshold Period Past Due for Write-Off Of Financing Receivable, Threshold Two Threshold period, write-off of bankrupt accounts Threshold Period Past Due for Write-off of Bankrupt Accounts After Receipt Of Notification Threshold Period Past Due for Write-off of Bankrupt Accounts After Receipt Of Notification Class of Treasury Stock [Table] Class of Treasury Stock [Table] Share Repurchase Program [Axis] Share Repurchase Program [Axis] Share Repurchase Program [Domain] Share Repurchase Program [Domain] Stock Repurchase Program Stock Repurchase Program [Member] Stock Repurchase Program [Member] Accelerated Share Repurchase Agreement Accelerated Share Repurchase Agreement [Member] Accelerated Share Repurchase Agreement [Member] Equity, Class of Treasury Stock [Line Items] Equity, Class of Treasury Stock [Line Items] Stock repurchase program, maximum authorized amount Stock Repurchase Program, Authorized Amount Repurchases of shares of common stock, Shares Repurchased (in shares) Treasury Stock, Shares, Acquired Repurchases of shares of common stock, Average Price per Share (in usd per share) Treasury Stock Acquired, Average Cost Per Share Repurchases of shares of common stock, Cash Paid for Shares Repurchased Payments for Repurchase of Common Stock Remaining Amount Authorized Stock Repurchase Program, Remaining Authorized Repurchase Amount Treasury stock recorded for repurchases Treasury Stock, Value, Acquired, Cost Method Treasury stock, retired (in shares) Treasury Stock, Shares, Retired Schedule of Available-for-sale Securities [Table] Schedule of Available-for-sale Securities [Table] Balance Sheet Location [Axis] Balance Sheet Location [Axis] Balance Sheet Location [Domain] Balance Sheet Location [Domain] Funds Receivable and Customer Accounts Funds Receivable And Customer Accounts [Member] Funds Receivable And Customer Accounts [Member] Government and agency securities US Government Agencies Debt Securities [Member] Schedule of Available-for-sale Securities [Line Items] Schedule of Available-for-sale Securities [Line Items] Gross Amortized Cost Available-for-sale Securities, Amortized Cost Basis Gross Unrealized Gains Available-for-sale Securities, Accumulated Gross Unrealized Gain, before Tax Gross Unrealized Losses Estimated Fair Value Related Party Transactions [Abstract] Accounts payable to related parties Accounts Payable, Related Parties Accounts receivable from related parties Accounts Receivable, Related Parties Derivative Instruments and Hedging Activities Disclosure [Abstract] Derivative Instruments, Gain (Loss) [Table] Derivative Instruments, Gain (Loss) [Table] Hedging Designation [Axis] Hedging Designation [Axis] Hedging Designation [Domain] Hedging Designation [Domain] Designated as Hedging Instrument Designated as Hedging Instrument [Member] Not Designated as Hedging Instrument Not Designated as Hedging Instrument [Member] Hedging Relationship [Axis] Hedging Relationship [Axis] Hedging Relationship [Domain] Hedging Relationship [Domain] Cash Flow Hedging Cash Flow Hedging [Member] Derivative Instrument [Axis] Derivative Instrument [Axis] Derivative Contract [Domain] Derivative Contract [Domain] Foreign Exchange Contract Foreign Exchange Contract [Member] Other Income (Expense) Nonoperating Income (Expense) [Member] Net Revenues Sales [Member] Derivative Instruments, Gain (Loss) [Line Items] Derivative Instruments, Gain (Loss) [Line Items] Total amounts presented in the condensed consolidated statement of income in which the effects of cash flow hedges are recorded Revenue, Net Total gains (losses) recognized from foreign exchange contracts not designated as hedging instruments Derivative, Gain (Loss) on Derivative, Net Investment [Table] Investment [Table] Cash and cash equivalents Cash and Cash Equivalents [Member] Time deposits Bank Time Deposits [Member] Funds receivable Funds Receivable [Member] Funds Receivable [Member] Investment [Line Items] Investment [Line Items] Total funds receivable and customer accounts Funds Receivable And Customer Accounts Funds Receivable And Customer Accounts One year or less Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value One year through two years Available-For-Sale Securities, Debt Maturities, After One Through Two Years, Fair Value Available-For-Sale Securities, Debt Maturities, After One Through Two Years, Fair Value Two years through three years Available-For-Sale Securities, Debt Maturities, After Two Through Three Years, Fair Value Available-For-Sale Securities, Debt Maturities, After Two Through Three Years, Fair Value Three years through four years Available-For-Sale Securities, Debt Maturities, After Three Through Four Years, Fair Value Available-For-Sale Securities, Debt Maturities, After Three Through Four Years, Fair Value Four years through five years Available-For-Sale Securities, Debt Maturities, After Four Through Five Years, Fair Value Available-For-Sale Securities, Debt Maturities, After Four Through Five Years, Fair Value Greater than five years Available-for-sale Securities, Debt Maturities, After Five Years, Fair Value Available-for-sale Securities, Debt Maturities, After Five Years, Fair Value Total Available-for-sale Securities, Debt Maturities, Single Maturity Date Revenue Revenue from Contract with Customer [Text Block] Loans and Interest Receivable Loans, Notes, Trade and Other Receivables Disclosure [Text Block] Fair value of outstanding derivative instruments Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] Schedule of cash flow hedges included in accumulated other comprehensive income Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] Recognized gains or losses related to derivative instruments Derivative Instruments, Gain (Loss) [Table Text Block] Schedule of notional amounts of outstanding derivatives Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] Statement of Financial Position [Abstract] ASSETS Assets [Abstract] Current assets: Assets, Current [Abstract] Cash and cash equivalents Cash and Cash Equivalents, at Carrying Value Short-term investments Short-term Investments Accounts receivable, net Accounts Receivable, Net, Current Loans and interest receivable, net of allowances of $139 and $129 as of March 31, 2018 and December 31, 2017, respectively Notes, Loans and Financing Receivable, Net, Current Loans and interest receivable, held for sale Receivables Held-for-sale, Amount Funds receivable and customer accounts Prepaid expenses and other current assets Prepaid Expense and Other Assets, Current Total current assets Assets, Current Long-term investments Long-term Investments Property and equipment, net Property, Plant and Equipment, Net Goodwill Goodwill Intangible assets, net Finite-Lived Intangible Assets, Net Other assets Other Assets, Noncurrent Total assets Assets LIABILITIES AND EQUITY Liabilities and Equity [Abstract] Current liabilities: Liabilities, Current [Abstract] Accounts payable Accounts Payable, Current Notes payable Notes Payable, Current Funds payable and amounts due to customers Funds Payable And Amounts Due To Customers Funds Payable And Amounts Due To Customers Accrued expenses and other current liabilities Accrued Liabilities, Current Income taxes payable Taxes Payable, Current Total current liabilities Liabilities, Current Deferred tax liability and other long-term liabilities Liabilities, Other than Long-term Debt, Noncurrent Total liabilities Liabilities Commitments and Contingencies (Note 13) Commitments and Contingencies Equity: Stockholders' Equity Attributable to Parent [Abstract] Common stock, $0.0001 par value; 4,000 shares authorized; 1,183 and 1,200 shares outstanding as of March 31, 2018 and December 31, 2017, respectively Common Stock, Value, Issued Treasury stock at cost, 71 and 47 shares as of March 31, 2018 and December 31, 2017, respectively Treasury Stock, Value Additional paid-in-capital Additional Paid in Capital Retained earnings Retained Earnings (Accumulated Deficit) Accumulated other comprehensive loss Accumulated Other Comprehensive Income (Loss), Net of Tax Total equity Stockholders' Equity Attributable to Parent Total liabilities and equity Liabilities and Equity Earnings Per Share [Abstract] Net Income Per Share Earnings Per Share [Text Block] Amortization expense for intangible assets Amortization of Intangible Assets Commitments and Contingencies Disclosure [Abstract] Management's estimate of the maximum potential exposure related to protection programs Product Liability Contingencies [Table Text Block] Schedule of restricted stock units and performance-based restricted stock units Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] Schedule of stock-based compensation expense Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] Principal amount of loans and interest receivable segmented by a FICO score range Financing Receivable Credit Quality Indicators [Table Text Block] Delinquency status of the principal amount of loans and interest receivable Past Due Financing Receivables [Table Text Block] Allowance for loans and interest receivable Allowance for Credit Losses on Financing Receivables [Table Text Block] Schedule of assets underlying our funds receivable and customer accounts Schedule Of Assets Underlying Funds Receivable And Customer Accounts [Table Text Block] Schedule Of Assets Underlying Funds Receivable And Customer Accounts [Table Text Block] Estimated fair value of our investments classified as available for sale included within funds receivable and customer accounts Schedule of Available-for-sale Securities Reconciliation [Table Text Block] The estimated fair values of our investments classified as available for sale included within funds receivable and customer accounts by date of contractual maturity Investments Classified by Contractual Maturity Date [Table Text Block] Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type [Table] Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type [Table] Other current assets Other Current Assets [Member] Other current liabilities Other Current Liabilities [Member] Derivatives, Fair Value [Line Items] Derivatives, Fair Value [Line Items] Derivative assets Derivative Asset, Fair Value, Gross Asset Derivative liabilities Derivative Liability, Fair Value, Gross Liability Net fair value of derivative instruments Derivative, Fair Value, Net Aggregate fair value of investments in an unrealized loss position Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value Loss Contingencies [Table] Loss Contingencies [Table] Range [Axis] Range [Axis] Range [Domain] Range [Domain] Maximum Maximum [Member] Loss Contingency Nature [Axis] Loss Contingency Nature [Axis] Loss Contingency, Nature [Domain] Loss Contingency, Nature [Domain] Protection Programs Protection Programs [Member] Protection Programs [Member] Loss Contingencies [Line Items] Loss Contingencies [Line Items] Maximum potential exposure Loss Contingency, Estimate of Possible Loss Allowance for transaction losses and negative customer balances Financing Receivable, Allowance for Credit Losses Income Tax Disclosure [Abstract] Income Taxes Income Tax Disclosure [Text Block] Consumer Receivables Consumer Portfolio Segment [Member] Receivable Type [Axis] Receivable Type [Axis] Receivable [Domain] Receivable [Domain] Loans And Interest Receivable, Held For Sale Loans And Interest Receivable, Held For Sale [Member] Loans And Interest Receivable, Held For Sale [Member] Credit Score, FICO [Axis] Credit Score, FICO [Axis] Credit Score, FICO [Domain] Credit Score, FICO [Domain] Greater than 680 FICO Score, Greater Than 680 [Member] FICO Score, Greater Than 680 [Member] Participation interest sold, value Consumer Receivables, Participation Interest Sold, Value Consumer Receivables, Participation Interest Sold, Value Weighted average FICO score Financing Receivable, Credit Quality, Weighted Average FICO Score Financing Receivable, Credit Quality, Weighted Average FICO Score Percentage of loans and interest receivable, prime Percentage of Loans and Interest Receivable, Prime Percentage of Loans and Interest Receivable, Prime Credit score, prime (greater than) Financing Receivable, Credit Quality, Prime Credit Score Financing Receivable, Credit Quality, Prime Credit Score Percentage of loans and interest receivable, FICO score below 599 Percentage of Loans and Interest Receivable, With FICO Score Below 599 Percentage of Loans and Interest Receivable, With FICO Score Below 599 Credit score (below) Financing Receivable, Credit Quality, Credit Score, FICO Below 599 Financing Receivable, Credit Quality, Credit Score, FICO Below 599 Percentage of loans and interest receivable, current Percentage of Loans and Interest Receivable, Current Percentage of Loans and Interest Receivable, Current Purchased consumer receivables Loans and Leases Receivable, Gross, Consumer, Purchased Consumer Loans Receivable, Purchased, Gross Schedule of Financing Receivable, Allowance for Credit Losses [Table] Schedule of Financing Receivable, Allowance for Credit Losses [Table] Loans and Advances Loans Receivable [Member] Interest and Fees Receivable Financing Receivable [Member] Geographical [Axis] Geographical [Axis] Geographical [Domain] Geographical [Domain] U.S. UNITED STATES Financing Receivable, Allowance for Credit Losses [Line Items] Financing Receivable, Allowance for Credit Losses [Line Items] Allowance for loans and interest receivable Financing Receivable, Allowance for Credit Losses [Roll Forward] Beginning balance Provisions Provision for Loan, Lease, and Other Losses Charge-offs Financing Receivable, Allowance for Credit Losses, Write-downs Recoveries Financing Receivable, Allowance for Credit Losses, Recovery Ending balance Consumer loans and interest receivable not designated as held for sale and are expected to be charged off Financing Receivables, Net, Excluding Non-US Consumer Loans Without FICO Scores, Expected To Be Charged Off Financing Receivables, Net, Excluding Non-US Consumer Loans Without FICO Scores, Expected To Be Charged Off PayPal Working Capital Products PayPal Working Capital Products [Member] PayPal Working Capital Products [Member] Minimum Minimum [Member] Loan and interest receivables Financing Receivable, Net Required percentage of original loan payments every 90 Days Financing Receivable, Terms, Required Percentage Of Original Loan Payments Every 90 Days Financing Receivable, Terms, Required Percentage Of Original Loan Payments Every 90 Days Organization, Consolidation and Presentation of Financial Statements [Abstract] Overview and Summary of Significant Accounting Policies Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] Schedule of Financing Receivable, Recorded Investment, Credit Quality Indicator [Table] Schedule of Financing Receivable, Recorded Investment, Credit Quality Indicator [Table] Greater than 760 FICO Score, Greater Than 760 [Member] FICO Score, Greater Than Or Equal To 760 [Member] 680 - 759 FICO Score, 680 To 759 [Member] FICO Score, 680 To 759 [Member] 600 - 679 FICO Score, 600 To 679 [Member] FICO Score, 600 To 679 [Member] Less Than 599 FICO Score, Less Than Or Equal To 599 [Member] FICO Score, Less Than Or Equal To 599 [Member] Financing Receivable, Recorded Investment [Line Items] Financing Receivable, Recorded Investment [Line Items] Consumer loans and interest receivable Financing Receivables, Net, Excluding Non-US Consumer Loans Without FICO Scores Financing Receivables, Net, Excluding Non-US Consumer Loans Without FICO Scores Impact of Designated Derivative Instruments on Accumulated Other Comprehensive Income Impact Of Designated Derivative Instruments On Accumulated Other Comprehensive Income [Roll Forward] Impact Of Designated Derivative Instruments On Accumulated Other Comprehensive Income [Roll Forward] Foreign exchange contracts designated as cash flow hedges, beginning balance Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax Amount of gains (losses) recognized in other comprehensive income Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net Less: Amount of gains (losses) reclassified from accumulated other comprehensive income to net revenue Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net Foreign exchange contracts designated as cash flow hedges, ending balance Allowance for doubtful accounts, loans and interest receivable Allowance for Notes, Loans and Financing Receivable, Current Common stock, par value (in usd per share) Common Stock, Par or Stated Value Per Share Common stock, shares authorized (in shares) Common Stock, Shares Authorized Common stock, shares outstanding (in shares) Common Stock, Shares, Outstanding Treasury stock, shares (in shares) Treasury Stock, Shares Other Consumer Credit Products Other Consumer Credit Products [Member] Other Consumer Credit Products [Member] Loan and interest receivables, allowance Accumulated Other Comprehensive Income (Loss) [Table] Accumulated Other Comprehensive Income (Loss) [Table] Equity Components [Axis] Equity Components [Axis] Equity Component [Domain] Equity Component [Domain] AOCI Attributable to Parent AOCI Attributable to Parent [Member] Unrealized Gains (Losses) on Cash Flow Hedges Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] Unrealized Gains (Losses) on Investments Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] Foreign Currency Translation Accumulated Foreign Currency Adjustment Attributable to Parent [Member] Accumulated Other Comprehensive Income (Loss) [Line Items] Accumulated Other Comprehensive Income (Loss) [Line Items] Accumulated Balances of Other Comprehensive Income (Loss), Before Tax AOCI, Before Tax [Roll Forward] AOCI, Before Tax [Roll Forward] AOCI before tax, beginning balance AOCI before Tax, Attributable to Parent Other comprehensive income (loss) before reclassifications, before tax OCI, before Reclassifications, before Tax, Attributable to Parent Less: Amount of gains (losses) reclassified from accumulated other comprehensive income, before tax Reclassification from AOCI, Current Period, before Tax, Attributable to Parent Net current period other comprehensive income (loss), before tax Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent AOCI before tax, ending balance Accumulated Balances of Other Comprehensive Income (Loss), Tax Accumulated Other Comprehensive Income (Loss), Tax [Roll Forward] Accumulated Other Comprehensive Income (Loss), Tax [Roll Forward] AOCI tax, beginning balance AOCI Tax, Attributable to Parent Other comprehensive income (loss) before reclassifications, tax Other Comprehensive Income (Loss) before Reclassifications, Tax Less: Amount of gains (losses) reclassified from accumulated other comprehensive income, tax Reclassification from AOCI, Current Period, Tax Net current period other comprehensive income (loss), tax Other Comprehensive Income (Loss), Tax AOCI tax, ending balance Accumulated Balances of Other Comprehensive Income (Loss), Net of Tax AOCI Attributable to Parent, Net of Tax [Roll Forward] AOCI, net of tax, beginning balance Other comprehensive income (loss) before reclassifications, net of tax OCI, before Reclassifications, Net of Tax, Attributable to Parent Less: Amount of gains (losses) reclassified from accumulated other comprehensive income, net of tax Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent AOCI, net of tax, ending balance Statement of Cash Flows [Abstract] Statement [Table] Statement [Table] Restricted Cash and Cash Equivalents [Axis] Restricted Cash and Cash Equivalents [Axis] Cash and Cash Equivalents [Domain] Cash and Cash Equivalents [Domain] Short term investments Cash Equivalents [Member] Funds receivable and customer accounts Statement [Line Items] Statement [Line Items] Cash flows from operating activities: Net Cash Provided by (Used in) Operating Activities [Abstract] Net income Adjustments: Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] Transaction and loan losses Transaction And Loan Losses Transaction losses include the expense associated with our customer protection programs, fraud, and chargebacks. Loan losses include the losses associated with our loans receivable balances. Depreciation and amortization Depreciation, Depletion and Amortization Stock-based compensation Share-based Compensation Deferred income taxes Deferred Income Tax Expense (Benefit) Gain on sale of principal loans receivable held for sale, net Gain (Loss) on Sales of Loans, Net Cost basis adjustments to loans and interest receivable held for sale Other Noncash Expense Changes in assets and liabilities: Increase (Decrease) in Operating Capital [Abstract] Accounts receivable Increase (Decrease) in Accounts Receivable Changes in loans and interest receivable held for sale, net Increase (Decrease) in Loans Held-for-sale Accounts payable Increase (Decrease) in Accounts Payable, Trade Income taxes payable Increase (Decrease) in Income Taxes Payable Other assets and liabilities Increase (Decrease) in Other Operating Assets and Liabilities, Net Net cash (used in) provided by operating activities Net Cash Provided by (Used in) Operating Activities Cash flows from investing activities: Net Cash Provided by (Used in) Investing Activities [Abstract] Purchases of property and equipment Payments to Acquire Property, Plant, and Equipment Changes in principal loans receivable, net Payments for (Proceeds from) Loans Receivable Purchases of investments Payments to Acquire Investments Maturities and sales of investments Proceeds from Sale and Maturity of Marketable Securities Funds receivable Increase (Decrease) In Funds Receivable, Investing Activities Increase (Decrease) In Funds Receivable, Investing Activities Net cash provided by (used in) investing activities Net Cash Provided by (Used in) Investing Activities Cash flows from financing activities: Net Cash Provided by (Used in) Financing Activities [Abstract] Proceeds from issuance of common stock Proceeds from Issuance of Common Stock Purchases of treasury stock Tax withholdings related to net share settlements of equity awards Payments Related to Tax Withholding for Share-based Compensation Borrowings under financing arrangements, net of repayments Proceeds from (Repayments of) Debt Funds payable and amounts due to customers Increase (Decrease) In Funds Payable And Amounts Due To Customers Increase (Decrease) In Funds Payable And Amounts Due To Customers Net cash provided by (used in) financing activities Net Cash Provided by (Used in) Financing Activities Effect of exchange rate changes on cash, cash equivalents and restricted cash Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents Net change in cash, cash equivalents and restricted cash Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect Cash, cash equivalents and restricted cash at beginning of period Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents Cash, cash equivalents and restricted cash at end of period Supplemental cash flow disclosures: Supplemental Cash Flow Information [Abstract] Cash paid for interest Interest Paid Refund received for income taxes, net Proceeds from Income Tax Refunds Cash paid for income taxes, net Income Taxes Paid The below table reconciles cash, cash equivalents and restricted cash as reported in the condensed consolidated balance sheet to the total of the same amounts shown in the condensed consolidated statements of cash flows: Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract] Restricted cash, current Restricted Cash and Cash Equivalents, Current Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows United States (U.S.) United Kingdom (U.K.) UNITED KINGDOM Other Countries Countries Other Than US And United Kingdom [Member] Countries Other Than US And United Kingdom [Member] Transaction revenues Interest, fees and gains earned on loan and interest receivables, net and held for sale portfolio, hedging gains and interest earned on customer balances Interest, Fees And Gains Earned On Loan And Interest Receivables, Net And Held For Sale Portfolio, Hedging Gains And Interest Earned On Customer Balances [Member] Interest, Fees And Gains Earned On Loan And Interest Receivables, Net And Held For Sale Portfolio, Hedging Gains And Interest Earned On Customer Balances [Member] Revenues Revenue from Contract with Customer, Excluding Assessed Tax Segment Reporting [Abstract] Geographical Information Segment Reporting Disclosure [Text Block] Restructuring and Related Activities [Abstract] Schedule of Restructuring and Related Costs [Table] Schedule of Restructuring and Related Costs [Table] Restructuring Type [Axis] Restructuring Type [Axis] Type of Restructuring [Domain] Type of Restructuring [Domain] Reductions of global workforce Employee Severance [Member] Restructuring Cost and Reserve [Line Items] Restructuring Cost and Reserve [Line Items] Restructuring and other charges Restructuring Charges Basis of Presentation Basis of Accounting, Policy [Policy Text Block] Equity and Cost Method Investments Equity and Cost Method Investments, Policy [Policy Text Block] Principles of Consolidation Consolidation, Policy [Policy Text Block] Use of Estimates Use of Estimates, Policy [Policy Text Block] Recent Accounting Guidance and Recently Adopted Accounting Guidance New Accounting Pronouncements, Policy [Policy Text Block] Fiscal years: Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] Remaining 2018 Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year 2019 Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months 2020 Finite-Lived Intangible Assets, Amortization Expense, Year Two Net Carrying Amount Disaggregation of revenue Disaggregation of Revenue [Table Text Block] Restructuring Reserve Restructuring Reserve [Roll Forward] Accrued liability, beginning of period Restructuring Reserve Charges Payments Payments for Restructuring Accrued liability, end of period Schedule of Revenues from External Customers and Long-Lived Assets [Table] Schedule of Revenues from External Customers and Long-Lived Assets [Table] Other countries Non-US [Member] Revenues from External Customers and Long-Lived Assets [Line Items] Revenues from External Customers and Long-Lived Assets [Line Items] Long-lived assets Long-Lived Assets Derivative Instruments Derivative Instruments and Hedging Activities Disclosure [Text Block] Related Party Transactions Related Party Transactions Disclosure [Text Block] Schedule of Financing Receivables Past Due [Table] Schedule of Financing Receivables Past Due [Table] Financing Receivables, Period Past Due [Axis] Financing Receivables, Period Past Due [Axis] Financing Receivables, Period Past Due [Domain] Financing Receivables, Period Past Due [Domain] 30 - 59 Days Past Due Financing Receivables, 30 to 59 Days Past Due [Member] 60 - 89 Days Past Due Financing Receivables, 60 to 89 Days Past Due [Member] 90 - 180 Days Past Due Financing Receivables, 90 To 180 Days Past Due [Member] Financing Receivables, 90 To 180 Days Past Due [Member] More Than 180 Days Financing Receivables, Greater Than 180 Days Past Due With Five Percent Payment In Last 90 Days [Member] Financing Receivables, Greater Than 180 Days Past Due With Five Percent Payment In Last 90 Days [Member] Financing Receivable, Recorded Investment, Past Due [Line Items] Financing Receivable, Recorded Investment, Past Due [Line Items] Loan and interest receivable, current Financing Receivable, Recorded Investment, Current Loan and interest receivable, past due Financing Receivable, Recorded Investment, Past Due Total receivables Consumer loans and interest receivable, accrued but unbilled interest Financing Receivables, Net, Excluding Non-US Consumer Loans Without FICO Scores, Accrued Interest Financing Receivables, Net, Excluding Non-US Consumer Loans Without FICO Scores, Accrued Interest Schedule of earnings per share, basic and diluted Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] Employee Stock Option Employee Stock Option [Member] Restricted Stock Units (RSUs) Restricted Stock Units (RSUs) [Member] Vesting [Axis] Vesting [Axis] Vesting [Domain] Vesting [Domain] One-year performance period Share-based Compensation Award, Tranche One [Member] Three-year performance period Share-based Compensation Award, Tranche Two [Member] Outstanding (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number Granted (in shares) Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross Weighted average grant-date fair value of restricted stock units granted in period (in usd per share) Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value Award requisite service period Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period Granted (in shares) Issuance percentage of target amount Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Issuance Percentage Of Target Amount Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Issuance Percentage Of Target Amount Line of Credit Facility [Table] Line of Credit Facility [Table] Short-term Debt, Type [Axis] Short-term Debt, Type [Axis] Short-term Debt, Type [Domain] Short-term Debt, Type [Domain] Unsecured Debt Unsecured Debt [Member] Credit Facility [Axis] Credit Facility [Axis] Credit Facility [Domain] Credit Facility [Domain] Delayed-Draw Term Loan Credit Facility Delayed-Draw Term Loan Credit Facility [Member] Delayed-Draw Term Loan Credit Facility [Member] Revolving Credit Facility Revolving Credit Facility [Member] Letter of Credit Sub-Facility Letter of Credit [Member] Swingline Sub-Facility Bridge Loan [Member] Subsequent Event Type [Axis] Subsequent Event Type [Axis] Subsequent Event Type [Domain] Subsequent Event Type [Domain] Subsequent Event Subsequent Event [Member] Lender Name [Axis] Lender Name [Axis] Line of Credit Facility, Lender [Domain] Line of Credit Facility, Lender [Domain] Uncommitted Credit Facilities Uncommitted Credit Facilities [Member] Uncommitted Credit Facilities [Member] Long-term Debt, Type [Axis] Long-term Debt, Type [Axis] Long-term Debt, Type [Domain] Long-term Debt, Type [Domain] Variable Rate [Axis] Variable Rate [Axis] Variable Rate [Domain] Variable Rate [Domain] London Interbank Offered Rate (LIBOR) London Interbank Offered Rate (LIBOR) [Member] Agent Bank’s Prime Rate, The Federal Funds Effective Rate or London Interbank Offered Rate (LIBOR) Agent Bank’s Prime Rate, The Federal Funds Effective Rate Or London Interbank Offered Rate (LIBOR) [Member] Agent Bank’s Prime Rate, The Federal Funds Effective Rate Or London Interbank Offered Rate (LIBOR) [Member] Line of Credit Facility [Line Items] Line of Credit Facility [Line Items] Maximum borrowing capacity Line of Credit Facility, Maximum Borrowing Capacity Credit facility, term Debt Instrument, Term Maximum number of borrowings Line Of Credit Facility, Borrowing Capacity, Maximum Number Of Borrowings Line Of Credit Facility, Borrowing Capacity, Maximum Number Of Borrowings Draw downs from lines of credit Proceeds from Lines of Credit Borrowings outstanding Long-term Line of Credit Interest rate during period Debt Instrument, Interest Rate During Period Available borrowing capacity Line of Credit Facility, Remaining Borrowing Capacity Interest expense and fees Interest and Debt Expense Repayments of lines of credit Repayments of Lines of Credit Accordion feature, increase in maximum borrowing capacity Line Of Credit Facility, Accordion Feature, Increase In Maximum Borrowing Capacity Line Of Credit Facility, Accordion Feature, Increase In Maximum Borrowing Capacity Basis spread on variable rate Debt Instrument, Basis Spread on Variable Rate Summary of stock repurchase activity Class of Treasury Stock [Table Text Block] One year or less Two years through three years Available-For-Sale Securities, Debt Maturities, Years Two Through Three, Fair Value Available-For-Sale Securities, Debt Maturities, Years Two Through Three, Fair Value Schedule of accumulated other comprehensive income (loss) Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] Reclassifications out of accumulated other comprehensive income (loss) Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] Investments Investment [Text Block] Total goodwill Goodwill [Roll Forward] December 31, 2017 Goodwill Acquired Goodwill, Acquired During Period Adjustments Goodwill, Translation and Purchase Accounting Adjustments March 31, 2018 Effective income tax rate, percentage Effective Income Tax Rate Reconciliation, Percent U.S. Federal statutory income tax rate, percentage Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent Tax Cuts and Jobs Act of 2017 adjustment to provisional income tax expense Tax Cuts And Jobs Act Of 2017, Incomplete Accounting, Adjustment To Provisional Income Tax Expense (Benefit) Tax Cuts And Jobs Act Of 2017, Incomplete Accounting, Adjustment To Provisional Income Tax Expense (Benefit) Offsetting Liabilities [Table] Offsetting Liabilities [Table] Offsetting Liabilities [Line Items] Offsetting Liabilities [Line Items] Counterpary cash collateral Derivative, Collateral, Obligation to Return Cash Maximum maturity of foreign currency exchange contracts Maximum Remaining Maturity of Foreign Currency Derivatives Net derivative losses related to cash flow hedges to be reclassified into earnings within the next 12 months Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months Derivative asset, offset Derivative Liability, Fair Value, Gross Asset Derivative liability, offset Derivative Asset, Fair Value, Gross Liability Cash collateral posted related to derivative liabilities Derivative Liability, Collateral, Right to Reclaim Cash, Offset Schedule of net revenues and long-lived assets, by geographical areas Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] Numerator: Net Income (Loss) Attributable to Parent [Abstract] Denominator: Weighted Average Number of Shares Outstanding Reconciliation [Abstract] Weighted average shares of common stock - basic (in shares) Weighted Average Number of Shares Outstanding, Basic Dilutive effect of equity incentive awards (in shares) Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements Weighted average shares of common stock - diluted (in shares) Weighted Average Number of Shares Outstanding, Diluted Net income per share: Earnings Per Share, Basic and Diluted [Abstract] Basic (in usd per share) Earnings Per Share, Basic Diluted (in usd per share) Earnings Per Share, Diluted Common stock equivalents excluded from income per diluted share because their effect would have been anti-dilutive (in shares) Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount Commitments and Contingencies Commitments and Contingencies Disclosure [Text Block] Business Combinations [Abstract] Business Combinations Mergers, Acquisitions and Dispositions Disclosures [Text Block] Fair Value Measurement of Assets and Liabilities Fair Value Disclosures [Text Block] Short-term investments Short-term Investments [Member] Long-term investments Other Long-term Investments [Member] Short-term restricted cash Long-term restricted cash Restricted Cash and Cash Equivalents, Noncurrent Fair Value Measurements, Recurring and Nonrecurring [Table] Fair Value Measurements, Recurring and Nonrecurring [Table] Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] Derivative instruments, duration Derivative, Term of Contract Funds Receivable and Customer Accounts Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] Income Statement [Abstract] Net revenues Operating expenses: Operating Expenses [Abstract] Transaction expense Transaction Expense Transaction expense is primarily comprised of the costs we incur to accept a customer’s funding source of payment. These costs include fees paid to payment processors and other financial institutions in order to draw funds from a customer’s credit or debit card, bank account or other funding source they have stored in their digital wallet. Transaction and loan losses Customer support and operations Customer Support And Operations Expense Customer support and operations expenses include costs incurred to provide 24-hour call support to customers, site operations and other infrastructure costs incurred to support Payments Platform, costs to support trust and security programs protecting merchants and consumers and other costs incurred in operations centers. Sales and marketing Selling and Marketing Expense Product development Research and Development Expense General and administrative General and Administrative Expense Depreciation and amortization Depreciation, Depletion and Amortization, Nonproduction Restructuring and other charges Other Cost and Expense, Operating Total operating expenses Operating Expenses Operating income Operating Income (Loss) Other income (expense), net Nonoperating Income (Expense) Income before income taxes Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest Income tax expense Income Tax Expense (Benefit) Net income Weighted average shares: Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract] Basic (in shares) Diluted (in shares) Estimated fair value of short and long-term investments classified as available for sale Available-for-sale Securities [Table Text Block] Estimated fair values of investments classified as available for sale by date of contractual maturity Notional amounts Derivative, Notional Amount Unused credit available to accountholders Unused Commitments to Extend Credit Number of days to file amended complaint Loss Contingency, Number Of Days To File Amended Complaint Loss Contingency, Number Of Days To File Amended Complaint Number of customers with potentially compromised information Number Of Customers With Potentially Compromised Information Number Of Customers With Potentially Compromised Information Number of new court appointed plantiffs Number Of Plaintiffs Number Of Plaintiffs Measurement Frequency [Axis] Measurement Frequency [Axis] Fair Value, Measurement Frequency [Domain] Fair Value, Measurement Frequency [Domain] Fair value, measurements, recurring basis Fair Value, Measurements, Recurring [Member] Fair Value, measurements, not on a recurring basis Fair Value, Measurements, Nonrecurring [Member] Fair Value, Hierarchy [Axis] Fair Value, Hierarchy [Axis] Fair Value Hierarchy [Domain] Fair Value Hierarchy [Domain] Significant Other Observable Inputs (Level 2) Fair Value, Inputs, Level 2 [Member] Cash and funds receivable Cash And Funds Receivable [Member] Cash And Funds Receivable [Member] Assets: Assets, Fair Value Disclosure [Abstract] Cash and cash equivalents Cash and Cash Equivalents, Fair Value Disclosure Investments Investments, Fair Value Disclosure Derivatives Derivative Asset Total financial assets Assets, Fair Value Disclosure Liabilities: Liabilities, Fair Value Disclosure [Abstract] Derivatives Derivative Liability Cash Cash Amortized cost basis Schedule of Finite-Lived Intangible Assets [Table] Schedule of Finite-Lived Intangible Assets [Table] Finite-Lived Intangible Assets by Major Class [Axis] Finite-Lived Intangible Assets by Major Class [Axis] Finite-Lived Intangible Assets, Major Class Name [Domain] Finite-Lived Intangible Assets, Major Class Name [Domain] Customer lists and user base Customer Lists [Member] Marketing related Marketing-Related Intangible Assets [Member] Developed technologies Technology-Based Intangible Assets [Member] All other Other Intangible Assets [Member] Finite-Lived Intangible Assets [Line Items] Finite-Lived Intangible Assets [Line Items] Gross Carrying Amount Finite-Lived Intangible Assets, Gross Accumulated Amortization Finite-Lived Intangible Assets, Accumulated Amortization Intangible assets acquired, useful life Acquired Finite-lived Intangible Assets, Weighted Average Useful Life Reclassification out of Accumulated Other Comprehensive Income [Table] Reclassification out of Accumulated Other Comprehensive Income [Table] Reclassification out of Accumulated Other Comprehensive Income [Axis] Reclassification out of Accumulated Other Comprehensive Income [Axis] Reclassification out of Accumulated Other Comprehensive Income [Domain] Reclassification out of Accumulated Other Comprehensive Income [Domain] Amount of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) Reclassification out of Accumulated Other Comprehensive Income [Member] Gains (losses) on cash flow hedges-foreign exchange contracts Unrealized gains (losses) on investments Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] Other income (expense), net Income tax expense Restructuring Restructuring and Related Activities Disclosure [Text Block] Schedule of restructuring reserve activity by type of cost Schedule of Restructuring Reserve by Type of Cost [Table Text Block] EX-101.PRE 11 pypl-20180331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT XML 12 R1.htm IDEA: XBRL DOCUMENT v3.8.0.1
Document and Entity Information - shares
3 Months Ended
Mar. 31, 2018
Apr. 20, 2018
Document and Entity Information [Abstract]    
Entity Registrant Name PayPal Holdings, Inc.  
Entity Trading Symbol PYPL  
Entity Central Index Key 0001633917  
Current Fiscal Year End Date --12-31  
Entity Filer Category Large Accelerated Filer  
Document Type 10-Q  
Document Period End Date Mar. 31, 2018  
Document Fiscal Year Focus 2018  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Entity Common Stock, Shares Outstanding (in shares)   1,187,386,825
XML 13 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED BALANCE SHEET - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 2,879 $ 2,883
Short-term investments 3,427 2,812
Accounts receivable, net 258 283
Loans and interest receivable, net of allowances of $139 and $129 as of March 31, 2018 and December 31, 2017, respectively 1,579 1,314
Loans and interest receivable, held for sale 6,537 6,398
Funds receivable and customer accounts 19,162 18,242
Prepaid expenses and other current assets 900 713
Total current assets 34,742 32,645
Long-term investments 1,487 1,961
Property and equipment, net 1,523 1,528
Goodwill 4,338 4,339
Intangible assets, net 138 168
Other assets 94 133
Total assets 42,322 40,774
Current liabilities:    
Accounts payable 187 257
Notes payable 3,000 1,000
Funds payable and amounts due to customers 20,662 19,742
Accrued expenses and other current liabilities 1,767 1,781
Income taxes payable 98 83
Total current liabilities 25,714 22,863
Deferred tax liability and other long-term liabilities 1,967 1,917
Total liabilities 27,681 24,780
Commitments and Contingencies (Note 13)
Equity:    
Common stock, $0.0001 par value; 4,000 shares authorized; 1,183 and 1,200 shares outstanding as of March 31, 2018 and December 31, 2017, respectively 0 0
Treasury stock at cost, 71 and 47 shares as of March 31, 2018 and December 31, 2017, respectively (3,811) (2,001)
Additional paid-in-capital 14,287 14,314
Retained earnings 4,334 3,823
Accumulated other comprehensive loss (169) (142)
Total equity 14,641 15,994
Total liabilities and equity $ 42,322 $ 40,774
XML 14 R3.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED BALANCE SHEET (PARENTHETICAL) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Statement of Financial Position [Abstract]    
Allowance for doubtful accounts, loans and interest receivable $ 139 $ 129
Common stock, par value (in usd per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 4,000,000,000 4,000,000,000
Common stock, shares outstanding (in shares) 1,183,000,000 1,200,000,000
Treasury stock, shares (in shares) 71,000,000 47,000,000
XML 15 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENT OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Income Statement [Abstract]    
Net revenues $ 3,685 $ 2,975
Operating expenses:    
Transaction expense 1,275 987
Transaction and loan losses 305 300
Customer support and operations 351 317
Sales and marketing 285 238
Product development 258 214
General and administrative 339 265
Depreciation and amortization 185 183
Restructuring and other charges 153 40
Total operating expenses 3,151 2,544
Operating income 534 431
Other income (expense), net 14 7
Income before income taxes 548 438
Income tax expense 37 54
Net income $ 511 $ 384
Net income per share:    
Basic (in usd per share) $ 0.43 $ 0.32
Diluted (in usd per share) $ 0.42 $ 0.32
Weighted average shares:    
Basic (in shares) 1,192 1,203
Diluted (in shares) 1,217 1,216
XML 16 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Statement of Comprehensive Income [Abstract]    
Net income $ 511 $ 384
Other comprehensive (loss) income, net of reclassification adjustments:    
Foreign currency translation 2 13
Unrealized (losses) gains on investments, net (15) 1
Tax benefit (expense) on unrealized (losses) gains on investments, net 4 0
Unrealized (losses) gains on hedging activities, net (18) (72)
Tax benefit (expense) on unrealized (losses) gains on hedging activities, net 0 1
Other comprehensive (loss) income, net of tax (27) (57)
Comprehensive income $ 484 $ 327
XML 17 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 511 $ 384
Adjustments:    
Transaction and loan losses 305 300
Depreciation and amortization 185 183
Stock-based compensation 205 145
Deferred income taxes 91 53
Gain on sale of principal loans receivable held for sale, net (5) (6)
Cost basis adjustments to loans and interest receivable held for sale 128 0
Changes in assets and liabilities:    
Accounts receivable 25 36
Changes in loans and interest receivable held for sale, net (1,291) 6
Accounts payable (35) (1)
Income taxes payable 0 17
Other assets and liabilities (468) (366)
Net cash (used in) provided by operating activities (349) 751
Cash flows from investing activities:    
Purchases of property and equipment (178) (148)
Changes in principal loans receivable, net 738 (136)
Purchases of investments (5,275) (7,109)
Maturities and sales of investments 4,291 5,583
Funds receivable 429 567
Net cash provided by (used in) investing activities 5 (1,243)
Cash flows from financing activities:    
Proceeds from issuance of common stock 13 12
Purchases of treasury stock (1,825) (517)
Tax withholdings related to net share settlements of equity awards (335) (101)
Borrowings under financing arrangements, net of repayments 2,075 0
Funds payable and amounts due to customers 865 552
Net cash provided by (used in) financing activities 793 (54)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (7) 11
Net change in cash, cash equivalents and restricted cash 442 (535)
Cash, cash equivalents and restricted cash at beginning of period 8,285 6,119
Cash, cash equivalents and restricted cash at end of period 8,727 5,584
Supplemental cash flow disclosures:    
Cash paid for interest 8 1
Refund received for income taxes, net (6)  
Cash paid for income taxes, net   48
The below table reconciles cash, cash equivalents and restricted cash as reported in the condensed consolidated balance sheet to the total of the same amounts shown in the condensed consolidated statements of cash flows:    
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $ 8,285 $ 6,119
XML 18 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Overview and Summary of Significant Accounting Policies
3 Months Ended
Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Overview and Summary of Significant Accounting Policies
Overview and Summary of Significant Accounting Policies

Overview and Organization

PayPal Holdings, Inc. ("PayPal," the "Company," "we," "us," or "our") was incorporated in Delaware in January 2015 and is a leading technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Our vision is to democratize financial services, as we believe that managing and moving money is a right for all people, not just the affluent. Our goal is to increase our relevance for consumers and merchants to manage and move their money anywhere in the world, anytime, on any platform and using any device. We also facilitate person-to-person payments through our PayPal, Venmo and Xoom products. Our combined payment solutions, including our PayPal, PayPal Credit, Braintree, Venmo, and Xoom products, compose our proprietary Payments Platform.

We operate globally and in a rapidly evolving regulatory environment characterized by a heightened regulatory focus on all aspects of the payments industry. That focus continues to become even more heightened as regulators on a global basis focus on such important issues as countering terrorist financing, anti-money laundering, privacy and consumer protection. Some of the laws and regulations to which we are subject were enacted recently, and the laws and regulations applicable to us, including those enacted prior to the advent of digital and mobile payments, are continuing to evolve through legislative and regulatory action and judicial interpretation. Non-compliance with laws and regulations, increased penalties and enforcement actions related to non-compliance, changes in laws and regulations or their interpretation, and the enactment of new laws and regulations applicable to us could have a material adverse impact on our business, results of operations and financial condition.

Significant Accounting Policies

Basis of Presentation and Principles of Consolidation
The condensed consolidated financial statements include the financial statements of PayPal and our wholly and majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Investments in entities where we hold less than a 20% ownership interest are generally accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes, and our share of the investees’ results of operations and is included in other income (expense), net on our condensed consolidated statement of income to the extent dividends are received. Our investment balance is included in long-term investments on our condensed consolidated balance sheet.
These condensed consolidated financial statements and accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2017 (the "2017 Form 10-K") filed with the Securities and Exchange Commission.
In the opinion of management, these condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for fair presentation of the condensed consolidated financial statements for interim periods. We have evaluated all subsequent events through the date the financial statements were issued. Certain amounts for prior years have been reclassified to conform to the financial presentation as of and for the three months ended March 31, 2018.

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses, during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to provisions for transaction and loan losses, loss contingencies, income taxes, revenue recognition and the valuation of goodwill and intangible assets. We base our estimates on historical experience and various other assumptions which we believe to be reasonable under the circumstances. Actual results could differ from those estimates.

Recent Accounting Guidance

In 2016, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance related to accounting for leases, which will require lessees to recognize lease assets and lease liabilities on the balance sheet for the rights and obligations created by all leases with terms greater than 12 months. As we are not a lessor, other changes in the guidance applicable to lessors do not apply. The guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. We will adopt the new guidance on January 1, 2019, using a modified retrospective basis and anticipate applying the optional practical expedients related to the transition. We are evaluating the impact of adopting this new accounting guidance on our financial statements.

In 2016, the FASB issued new guidance on the measurement of credit losses on financial instruments. Credit losses on loans, trade and other receivables, held-to-maturity debt securities and other instruments will reflect our current estimate of the expected credit losses that generally will result in the earlier recognition of allowances for losses. Credit losses on available-for-sale debt securities with unrealized losses will be recognized as allowances for credit losses limited to the amount by which fair value is below amortized cost. Additional disclosures will be required, including information used to track credit quality by year of origination for most financing receivables. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. We are required to apply the provisions of this guidance as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted with impairment of available-for-sale debt securities applied prospectively after adoption. We are evaluating the impact and approach to adopting this new accounting guidance on our financial statements.

In 2017, the FASB issued new guidance that requires certain premiums on callable debt securities to be amortized to the earliest call date. The amortization period for callable debt securities purchased at a discount will not be impacted.  Therefore, the new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. Transition is on a modified retrospective basis with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We are evaluating the impact this new accounting guidance will have on our financial statements.

In 2018, the FASB issued new guidance in response to tax reform that allows the option to reclassify stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017 (the "Tax Act") from accumulated other comprehensive income to retained earnings. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. If such an option is elected, transition can be applied either retrospectively to each period in which the effect of tax reform is recognized or applied with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We are evaluating the impact this new accounting guidance will have on our financial statements.

Recently Adopted Accounting Guidance

In 2014, the FASB issued new accounting guidance related to revenue recognition, which was further updated in 2016 for reporting revenue gross versus net. This new guidance replaced all existing GAAP guidance on this topic and eliminated all industry-specific guidance. The new revenue recognition guidance provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. We adopted the guidance effective January 1, 2018 on a full retrospective basis. We performed an impact analysis for the opening balance sheet as of January 1, 2016 as well as for the years ended December 31, 2016 and 2017. The impacts were deemed de minimis. No practical expedients or exemptions were elected in conjunction with the adoption of this new guidance. For additional information, see "Note 2—Revenue."

In 2016, the FASB issued new accounting guidance related to the classification and measurement of financial instruments. This new guidance amends GAAP by requiring equity investments to be measured at fair value with changes in fair value recognized in net income. This new guidance also amends the presentation of certain fair value changes for financial liabilities measured at fair value and it amends certain disclosure requirements associated with the fair value of financial instruments. Additionally, in 2018, the FASB issued technical corrections and improvements to this guidance effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years beginning after June 15, 2018. We are required to apply the new guidance on a modified retrospective basis to all outstanding instruments, with a cumulative effect adjustment as of the date of adoption and on a prospective basis to all outstanding equity investments without a readily determinable fair value. We adopted the guidance, including early adoption of the technical corrections and improvements, effective January 1, 2018. Beginning in the first quarter of 2018, we applied the measurement alternative to all our equity investments, which required us to measure these equity investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment in the same issuer. The adoption of this guidance did not have a material impact on our financial statements.

In 2016, the FASB issued new guidance on classifying certain cash receipts and cash payments on the statement of cash flows. The new guidance addresses the classification of cash flows related to: debt prepayment or extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance, including bank-owned life insurance, distributions received from equity method investees and beneficial interests in securitization transactions. The guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The guidance should be applied retrospectively after adoption. We adopted the guidance effective January 1, 2018. The adoption of this guidance did not have a material impact on our financial statements.

In 2016, the FASB issued new guidance on restricted cash on the statement of cash flows. The new guidance requires the classification and presentation of changes in restricted cash and cash equivalents in the statement of cash flows. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning and ending balances shown on the statement of cash flows. The guidance should be applied retrospectively after adoption. We adopted the guidance effective January 1, 2018 on a retrospective basis. The beginning and ending balances of cash and cash equivalents on the statement of cash flows now include restricted cash and restricted cash equivalents, such as cash and cash equivalents underlying customer accounts and restricted cash and restricted cash equivalents within short-term investments.

In 2017, the FASB issued new guidance clarifying the scope and application of the de-recognition of non-financial assets and the sale or transfer of non-financial assets, including partial sales. We adopted the guidance effective January 1, 2018 on a full retrospective basis. The adoption of this guidance did not have a material impact on our financial statements.

In 2017, the FASB issued new guidance clarifying which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Specifically, an entity would apply modification accounting only if the fair value, vesting conditions, or classification of the awards changes as a result of changes in the terms or conditions. We adopted the guidance effective January 1, 2018 and applied it prospectively upon adoption. The adoption of this guidance did not have a material impact on our financial statements.

In 2017, the FASB issued new guidance intended to better align the results of hedge accounting with an entity’s risk management activities. This guidance updates the designation and measurement guidance for qualifying hedging relationships by expanding hedge accounting for both nonfinancial and financial risk components and by refining the measurement of hedge results to better reflect an entity’s hedging strategies. The amendments will also align the recognition and presentation of the effects of the hedge results in the financial statements to increase the understandability of the results of an entity’s intended hedging strategies. Additionally, the guidance includes certain targeted improvements to ease the operational burden of applying hedge accounting. We are required to apply the guidance with a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year in which the guidance is adopted and prospectively apply the presentation and disclosure guidance. We early adopted the guidance in the first quarter of 2018 using a modified retrospective approach to reflect application of the new guidance effective January 1, 2018. Adoption of the guidance did not have a material impact on our financial statements.

In 2018, the FASB issued new guidance to provide clarity around application of income tax accounting in situations where the assessment of tax implications of the Tax Act might not be complete as of period end in which the Tax Act was enacted. This guidance prescribes that an entity must reflect the income tax impact of the Tax Act in the period in which the tax accounting is complete and allows an entity to report provisional amounts for those specific effects of the Act for which the accounting is incomplete but a reasonable estimate can be determined. No provisional amounts should be reported for specific effects of the Tax Act for which a reasonable estimate cannot be determined, and the entity should continue to apply the provisions of the tax laws that were in effect prior to the enactment of the Tax Act. It further allows a measurement period of one year from the date of enactment within which to complete the accounting for all impacts of the Tax Act. Our financial statements reflect tax accounting in compliance with this guidance.
XML 19 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Revenue
3 Months Ended
Mar. 31, 2018
Revenue from Contract with Customer [Abstract]  
Revenue
Revenue

We earn revenue primarily by processing customer transactions on our Payments Platforms and from other value added services. Our revenues are classified into two categories, transaction revenues and revenues from other value added services:
Transaction Revenues
We earn transaction revenues primarily from fees charged to consumers and merchants on a transaction basis. These fees may have a fixed and variable component. The variable component is generally a percentage of the value of the payment amount, and is known at the time the transaction is processed. If the underlying transaction is approved for refund, we reimburse the variable component of the fee. We estimate the amount of fee refunds that will be processed during the quarter and record a provision against our net revenues. The volume of activity processed through our Payments Platform, which results in transaction revenue, is referred to as Total Payments Volume (“TPV”). We define TPV as the value of payments, net of reversals, successfully completed through our Payments Platform or enabled by PayPal via a partner payment solution, not including gateway-exclusive transactions. We earn additional fees on transactions where we perform a currency conversion and when we enable cross-border transactions (i.e., transactions where the merchant and consumer are in different countries).

Our contracts with our customers are usually open ended and can be terminated by either party without a termination penalty after the notice period has lapsed. Therefore, our contracts are defined at the transaction level and do not extend beyond the service already provided. Our contracts renew automatically without significant material rights. Some of our contracts include tiered pricing, based primarily on volume. The fee charged per transaction is adjusted up or down if the volume processed for a specified period is different from prior period defined volumes. We have concluded that this volume-based pricing approach does not constitute a future material right since the discount is within a range typically offered to class of customers with similar volume. We provide account set up and payment-processing services and account for these services as one performance obligation satisfied at a point in time when the payment transaction is complete. The transaction price is therefore fully allocated to one performance obligation. We deduct our fees from the transaction payment processed. We do not have any capitalized contract costs, and do not carry any contract balances.

We recognize fees charged to our customers primarily on a gross basis as transaction revenue when we are the principal in respect of processing payments. As a principal to the transaction, we bear primary responsibility for the fulfillment of the payment service, contract directly with our customers, control the product specifications and define the value proposal from our services. Further, we have full discretion in determining the fee charged to our customers, and therefore, we bear the full margin risk. We are also responsible for providing customer support. Related transaction costs paid to our payment processors and other financial institutions are recognized as transaction expense.

We provide merchants and consumers with protection programs on substantially all transactions completed through our Payments Platforms, except for transactions using our gateway products. These programs protect both merchants and consumers from loss primarily due to fraud and counterparty performance. Our buyer protection program provides protection to consumers for qualifying purchases by reimbursing the consumer for the full amount of the purchase if a purchased item does not arrive or does not match the seller’s description. Our seller protection programs provide protection to merchants against claims that a transaction was not authorized by the buyer or claims that an item was not received by covering the seller for the full amount of the payment on eligible sales. These protection programs are considered standard service warranties for which we estimate and record associated costs in transaction and loan losses during the period the payment transaction is processed.
Revenues from Other Value Added Services
We earn revenues from other value added services which comprise revenue earned through partnerships, subscription fees, gateway fees, and other services that we provide to our consumers and merchants. The contracts for these services cannot usually be terminated by either party without penalty. These contracts typically have one performance obligation which is provided and recognized over the term of the contract. The transaction price is generally fixed and known at the end of each reporting period, however, for some agreements, it may be necessary to estimate the transaction price using the expected value method.
We recognize revenue received from our financial institution partners on a net basis when we are considered the agent in respect of processing transactions. As we are an agent to the transaction, our financial institution partners directly contract with the end customers and are ultimately responsible for the fulfillment of the services. In an agent relationship, we may have some discretion in determining the fee charged to end customers, but always in conjunction with a financial institution partner. As a result, related costs incurred by our financial institution partners when we are an agent are included as a reduction to the revenue share received.
We also earn revenues from interest and fees earned on our loans receivable portfolio, gain on sale of participation interest in certain loans and advances and interest earned on certain PayPal customer account balances. Interest and fees earned on the PayPal credit portfolio of loans receivable are computed and recognized based on contractual interest and fee rates, and are net of any required reserves and amortization of deferred origination costs.
Disaggregation of Revenue

We determine operating segments based on how our chief operating decision maker (“CODM”) manages the business, makes operating decisions around the allocation of resources and evaluates operating performance. Our CODM is our Chief Executive Officer, who reviews our operating results on a consolidated basis. We operate in one segment and have one reportable segment. Based on the information provided to and reviewed by our CODM, we believe that the nature, amount, timing and uncertainty of our revenue and cash flows and how they are affected by economic factors is most appropriately depicted through our primary geographical markets and type of revenue (transaction and other value added services) categories. Revenues recorded within these categories are earned from similar services for which the nature of associated fees and the related revenue recognition models are substantially the same.

The following table presents our revenues disaggregated by primary geographical markets:
 
Three Months Ended March 31,
 
2018
  
2017
 
(In millions)
Primary geographical markets
 
 
 
United States ("U.S.")
$
2,023

 
$
1,606

United Kingdom ("U.K.")
392

 
313

Other countries(1)
1,270

 
1,056

Total revenues(2)
$
3,685

 
$
2,975

 
 
 
 
Types of revenues
 
 
 
Transaction revenues
$
3,197

 
$
2,624

Other value added services
488

 
351

Total revenues(2)
$
3,685

 
$
2,975

(1) No single country included in the other countries category generated more than 10% of total revenue.
(2) Total revenues include interest, fees and gains earned on loan and interest receivables, net and held for sale portfolio, as well as hedging gains or losses and interest earned on certain PayPal customer balances of $359 million and $307 million for the three months ended March 31, 2018 and 2017, respectively, which do not represent revenues recognized in the scope of ASC Topic 606, Revenue from contracts with customers.

Net revenues are attributed to the U.S., the U.K. and other countries primarily based upon the country in which the merchant is located, or in the case of a cross-border transaction, may be earned from the country in which the consumer and the merchant respectively reside. Net revenues earned from value added services are typically attributed to the country in which either the customer or partner reside.
XML 20 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Net Income Per Share
3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Net Income Per Share
Net Income Per Share
Basic net income per share is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing net income for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding for the period. The dilutive effect of outstanding equity incentive awards is reflected in diluted net income per share by application of the treasury stock method. The calculation of diluted net income per share excludes all anti-dilutive common shares.

The following table sets forth the computation of basic and diluted net income per share for the periods indicated:
 
Three Months Ended March 31,
 
2018
  
2017
 
(In millions, except per share amounts)
Numerator:
 
 
 
Net income
$
511

 
$
384

Denominator:
 
 
 
Weighted average shares of common stock - basic
1,192

 
1,203

Dilutive effect of equity incentive awards
25

 
13

Weighted average shares of common stock - diluted
1,217

 
1,216

Net income per share:
 
 
 
Basic
$
0.43

 
$
0.32

Diluted
$
0.42

 
$
0.32

Common stock equivalents excluded from income per diluted share because their effect would have been anti-dilutive

 
6

XML 21 R10.htm IDEA: XBRL DOCUMENT v3.8.0.1
Business Combinations
3 Months Ended
Mar. 31, 2018
Business Combinations [Abstract]  
Business Combinations
Business Combinations
There were no acquisitions or divestitures completed in either the three months ended March 31, 2018 or 2017.
XML 22 R11.htm IDEA: XBRL DOCUMENT v3.8.0.1
Goodwill and Intangible Assets
3 Months Ended
Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Goodwill and Intangible Assets

Goodwill

The following table presents goodwill balances and adjustments to those balances during the three months ended March 31, 2018:
 
December 31,
2017
 
Goodwill
Acquired
 
Adjustments
 
March 31,
2018
 
 (In millions)
Total goodwill
$
4,339

 
$

 
$
(1
)
 
$
4,338



Intangible Assets

The components of identifiable intangible assets are as follows:
 
March 31, 2018
 
December 31, 2017
 
Gross Carrying Amount  
 
Accumulated Amortization 
 
Net Carrying Amount
 
Weighted Average Useful Life (Years)
 
Gross Carrying Amount 
 
Accumulated Amortization 
 
Net Carrying Amount
 
Weighted Average Useful Life (Years)
 
(In millions, except years)
Intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Customer lists and user base
$
613

 
$
(574
)
 
$
39

 
3
 
$
613

 
$
(563
)
 
$
50

 
3
Marketing related
198

 
(197
)
 
1

 
1
 
198

 
(196
)
 
2

 
1
Developed technologies
274

 
(227
)
 
47

 
3
 
274

 
(215
)
 
59

 
3
All other
245

 
(194
)
 
51

 
5
 
245

 
(188
)
 
57

 
5
Intangible assets, net
$
1,330

 
$
(1,192
)
 
$
138

 
 
 
$
1,330

 
$
(1,162
)
 
$
168

 
 

        
Amortization expense for intangible assets was $30 million and $27 million for the three months ended March 31, 2018 and 2017, respectively.

Expected future intangible asset amortization as of March 31, 2018 was as follows (in millions):
Fiscal years:
 
Remaining 2018
$
69

2019
42

2020
27

 
$
138

XML 23 R12.htm IDEA: XBRL DOCUMENT v3.8.0.1
Geographical Information
3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Geographical Information
Geographical Information

The following table summarizes long-lived assets based on geography:

 
March 31,
2018
  
December 31,
2017
 
(In millions)
Long-lived assets:
 
 
 
U.S.
$
1,422

 
$
1,432

Other countries
101

 
96

Total long-lived assets
$
1,523

 
$
1,528



Tangible long-lived assets as of March 31, 2018 and December 31, 2017 consisted of property and equipment. Long-lived assets attributed to the U.S. and other countries are based upon the country in which the asset is located or owned.
XML 24 R13.htm IDEA: XBRL DOCUMENT v3.8.0.1
Funds Receivable and Customer Accounts
3 Months Ended
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Funds Receivable and Customer Accounts
Funds Receivable and Customer Accounts

The following table summarizes the assets underlying our funds receivable and customer accounts as of March 31, 2018 and December 31, 2017.
 
March 31,
2018
 
December 31,
2017
 
(In millions)
Cash and cash equivalents
$
5,832

 
$
5,387

Government and agency securities
8,036

 
6,651

Time deposits
373

 
739

Corporate debt securities
1,129

 
1,248

Funds receivable
3,792

 
4,217

Total funds receivable and customer accounts
$
19,162

 
$
18,242



As of March 31, 2018 and December 31, 2017, the estimated fair value of our investments classified as available-for-sale included within funds receivable and customer accounts was as follows:
 
March 31, 2018
 
Gross
Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(In millions)
Government and agency securities
$
6,962

 
$

 
$
(6
)
 
$
6,956

Corporate debt securities
392

 

 
(1
)
 
391

Total
$
7,354

 
$

 
$
(7
)
 
$
7,347


 
December 31, 2017
 
Gross
Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(In millions)
Government and agency securities
$
5,946

 
$

 
$
(5
)
 
$
5,941

Corporate debt securities
529

 

 

 
529

Total
$
6,475

 
$

 
$
(5
)
 
$
6,470



We elect to account for certain investments within customer accounts, including foreign-currency denominated available-for-sale investments, under the fair value option. As a result, any gains and losses from fair value changes on such investments are recognized in other income (expense), net on the condensed consolidated statement of income. Election of the fair value option allows us to significantly reduce the accounting asymmetry that would otherwise arise when recognizing the changes in the fair value of available-for-sale investments and the corresponding foreign exchange gains and losses relating to customer liabilities. As of March 31, 2018 and December 31, 2017, the estimated fair value of our investments included within funds receivable and customer accounts under the fair value option was $1.8 billion and $1.4 billion, respectively. In the three months ended March 31, 2018 and 2017, $40 million and $15 million of net gains from fair value changes, respectively, were recognized in other income (expense), net on the condensed consolidated statement of income.

The aggregate fair value of investments in an unrealized loss position was $6.4 billion as of March 31, 2018 and $6.0 billion as of December 31, 2017. The aggregate gross unrealized loss on our short-term and long-term investments was not material as of March 31, 2018 and December 31, 2017. We believe the decline in value is due to temporary market conditions and expect to recover the entire amortized cost basis of the securities. We neither intend nor anticipate the need to sell the securities before recovery. We will continue to monitor the performance of the investment portfolio and assess market and interest rate risk when evaluating whether other-than-temporary impairment exists.

As of March 31, 2018 and December 31, 2017, we had no material investments that had been in a continuous unrealized loss position for greater than 12 months. Amounts reclassified to earnings from unrealized gains and losses were not material for the three months ended March 31, 2018 and 2017.

The estimated fair values of our investments classified as available-for-sale included within funds receivable and customer accounts by date of contractual maturity at March 31, 2018 were as follows:
 
March 31,
2018
 
(In millions)
One year or less
$
7,292

One year through two years
26

Two years through three years
29

Total
$
7,347

XML 25 R14.htm IDEA: XBRL DOCUMENT v3.8.0.1
Investments
3 Months Ended
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Investments
Investments

As of March 31, 2018 and December 31, 2017, the estimated fair value of our short-term and long-term investments classified as available-for-sale was as follows:
 
March 31, 2018
 
Gross
Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(In millions)
Short-term investments(1)(2):
 
  
 
  
 
 
 
Corporate debt securities
$
2,340

 
$

 
$
(4
)
 
$
2,336

Government and agency securities
495

 

 
(1
)
 
494

Long-term investments(1):
 
 
 
 
 
 


Corporate debt securities
1,324

 
1

 
(16
)
 
1,309

Government and agency securities
88

 

 

 
88

Total(1)(2)
$
4,247

 
$
1

 
$
(21
)
 
$
4,227

(1) Excludes short-term restricted cash of $81 million that we intend to use to support our global sabbatical program and a counterparty guarantee, and long-term restricted cash of $2 million.
(2) Excludes time deposits of $199 million, which are not considered available-for-sale securities.

 
December 31, 2017
 
Gross
Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(In millions)
Short-term investments(1)(2):
 
  
 
  
 
 
 
Corporate debt securities
$
2,092

 
$
1

 
$
(1
)
 
$
2,092

Government and agency securities
210

 

 

 
210

Long-term investments(1):
 
 
 
 
 
 
 
Corporate debt securities
1,769

 
2

 
(7
)
 
1,764

Government and agency securities
98

 

 

 
98

Total(1)(2)
$
4,169

 
$
3

 
$
(8
)
 
$
4,164

(1) Excludes short-term restricted cash of $79 million that we intend to use to support our global sabbatical program and a counterparty guarantee, and long-term restricted cash of $2 million.
(2) Excludes time deposits of $163 million, which are not considered available-for-sale securities.

We elected to account for foreign denominated available-for-sale investments held in our Luxembourg banking subsidiary under the fair value option. Election of the fair value option allows us to recognize any gains and losses from fair value changes on such investments in other income (expense), net on the condensed consolidated statement of income to offset certain foreign exchange gains and losses on our foreign denominated customer liabilities. As of March 31, 2018 and December 31, 2017, the estimated fair value of our investments included within short-term investments and long-term investments under the fair value option was $317 million and $277 million, respectively. In the three months ended March 31, 2018 and 2017, $8 million and $6 million, respectively, of net gains from fair value changes were recognized in other income (expense), net on the condensed consolidated statement of income.

The aggregate fair value of short-term and long-term investments in an unrealized loss position was $3.4 billion as of March 31, 2018 and $2.8 billion as of December 31, 2017, of which $206 million and $207 million, respectively, was in a continuous unrealized loss position for greater than 12 months. The aggregate gross unrealized loss on our short-term and long-term investments was not material as of March 31, 2018 and December 31, 2017. We believe the decline in value is due to temporary market conditions and expect to recover the entire amortized cost basis of the securities. We neither intend nor anticipate the need to sell the securities before recovery. We will continue to monitor the performance of the investment portfolio and assess market and interest rate risk when evaluating whether other-than-temporary impairment exists. Amounts reclassified to earnings from unrealized gains and losses were not material for the three months ended March 31, 2018 and 2017.

The estimated fair values of our short-term and long-term investments classified as available-for-sale by date of contractual maturity at March 31, 2018 were as follows:
 
March 31, 2018
 
(In millions)
One year or less
$
2,830

One year through two years
823

Two years through three years
344

Three years through four years
171

Four years through five years
49

Greater than five years
10

Total
$
4,227



Other Investments

We have equity investments which consist primarily of minority equity interests in companies that are not publicly traded and are reported in long-term investments on our condensed consolidated balance sheet. Our equity investments totaled $88 million as of March 31, 2018 and December 31, 2017.
XML 26 R15.htm IDEA: XBRL DOCUMENT v3.8.0.1
Fair Value Measurement of Assets and Liabilities
3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Fair Value Measurement of Assets and Liabilities
Fair Value Measurement of Assets and Liabilities

Financial Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis

The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017:

 
March 31, 2018
 
 
Significant Other
Observable Inputs
(Level 2)
 
 
(In millions)
Assets:
 
 
 
 
 
Cash and cash equivalents(1)
 
$
1,104

 
 
$
1,104

Short-term investments(2):
 
 
 
 
 
Corporate debt securities
 
2,419

 
 
2,419

Government and agency securities
 
728

 
 
728

Total short-term investments
 
$
3,147

 
 
$
3,147

Funds receivable and customer accounts(3)
 
9,424

 
 
9,424

Derivatives
 
56

 
 
56

Long-term investments(2):
 
 
 
 
 
Corporate debt securities
 
1,309

 
 
1,309

Government and agency securities
 
88

 
 
88

Total long-term investments
 
1,397

 
 
1,397

Total financial assets
 
$
15,128

 
 
$
15,128

Liabilities:
 
 
 
 
 
Derivatives
 
$
197

 
 
$
197

(1) Excludes cash of $1.8 billion not subject to fair value measurement on a recurring basis.
(2) Excludes restricted cash of $83 million, time deposits of $199 million, and equity investments of $88 million not subject to fair value measurement on a recurring basis.
(3) Excludes cash, time deposits and funds receivable of $9.7 billion underlying funds receivable and customer accounts not subject to fair value measurement on a recurring basis.

 
December 31, 2017
 
 
Significant Other
Observable Inputs
(Level 2)
 
 
(In millions)
Assets:
 
 
 
 
 
Cash and cash equivalents(1)
 
$
791

 
 
$
791

Short-term investments(2):
 
 
 
 
 
Corporate debt securities
 
2,219

 
 
2,219

Government and agency securities
 
351

 
 
351

Total short-term investments
 
2,570

 
 
2,570

Funds receivable and customer accounts(3)
 
8,007

 
 
8,007

Derivatives
 
66

 
 
66

Long-term investments(2):
 
 
 
 
 
Corporate debt securities
 
1,773

 
 
1,773

Government and agency securities
 
98

 
 
98

Total long-term investments
 
1,871

 
 
1,871

Total financial assets
 
$
13,305

 
 
$
13,305

Liabilities:
 
 
 
 
 
Derivatives
 
$
218

 
 
$
218

(1) Excludes cash of $2.1 billion not subject to fair value measurement on a recurring basis.
(2) Excludes restricted cash of $81 million, time deposits of $163 million, and equity investments of $88 million not subject to fair value measurement on a recurring basis.
(3) Excludes cash, time deposits and funds receivable of $10.2 billion underlying funds receivable and customer accounts not subject to fair value measurement on a recurring basis.

Our financial assets and liabilities are valued using market prices on both active markets (Level 1) and less active markets (Level 2). Level 1 instrument valuations are obtained from real-time quotes for transactions in active exchange markets involving identical assets. Level 2 instrument valuations are obtained from readily available pricing sources for comparable instruments, identical instruments in less active markets, or models using market observable inputs.

A majority of our derivative instruments are valued using pricing models that take into account the contract terms as well as multiple inputs where applicable, such as currency rates, interest rate yield curves, option volatility and equity prices. Our derivative instruments are primarily short-term in nature, generally one month to one year in duration. Certain foreign currency contracts designated as cash flow hedges may have a duration of up to 18 months.

We did not have any transfers of financial instruments between valuation levels during the three months ended March 31, 2018 and 2017. As of March 31, 2018, we did not have any assets or liabilities requiring measurement at fair value without observable market values that would require a high level of judgment to determine fair value (Level 3).

Cash and cash equivalents are short-term, highly liquid investments with original maturities of three months or less when purchased and are comprised primarily of bank deposits, government and agency securities and commercial paper.

We elect to account for foreign currency denominated available-for-sale investments underlying funds receivable and customer accounts, short term investments and long term investments under the fair value option as further discussed in "Note 7—Funds Receivable and Customer Accounts" and "Note 8—Investments."

Financial Assets and Liabilities Not Measured and Recorded at Fair Value

Our financial instruments, including cash, time deposits, accounts receivable, loans and interest receivable, net, loans and interest receivable held for sale, funds receivable, certain customer accounts, accounts payable, notes payable, and funds payable and amounts due to customers are carried at cost, which approximates their fair value due to the short-term maturity of these instruments. If these financial instruments were measured at fair value in the financial statements, cash would be classified as Level 1, time deposits, certain customer accounts, and notes payable would be classified as Level 2, and the remaining financial instruments would be classified as Level 3 in the fair value hierarchy.
XML 27 R16.htm IDEA: XBRL DOCUMENT v3.8.0.1
Derivative Instruments
3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments
Derivative Instruments

Summary of Derivative Instruments

Our primary objective in holding derivatives is to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. Our derivatives expose us to credit risk to the extent that our counterparties may be unable to meet the terms of the arrangement. We seek to mitigate such risk by limiting our counterparties to, and by spreading the risk across, major financial institutions. In addition, the potential risk of loss with any one counterparty resulting from this type of credit risk is monitored on an ongoing basis.

Foreign Exchange Contracts

We transact in various foreign currencies and have significant international revenues and costs denominated in foreign currencies, which subjects us to foreign currency risk. We have a foreign currency exposure management program whereby we designate certain foreign currency exchange contracts, generally with maturities of 18 months or less, to reduce the volatility of cash flows primarily related to forecasted revenues and expenses denominated in foreign currencies. The objective of the foreign exchange contracts is to help mitigate the risk that the U.S. dollar-equivalent cash flows are adversely affected by changes in the applicable U.S. dollar/foreign currency exchange rate. These derivative instruments are designated as cash flow hedges and accordingly, the derivative’s gain or loss is initially reported as a component of accumulated other comprehensive income (loss) and subsequently reclassified into revenue in the same period the forecasted transaction affects earnings. We evaluate the effectiveness of our foreign exchange contracts on a quarterly basis by comparing the change in the fair value of the derivative instruments with the change in the fair value of the forecasted cash flows of the hedged item. We did not exclude any component of the changes in fair value of the derivative instruments from the assessment of hedge effectiveness. We do not use any foreign exchange contracts for trading or speculative purposes.

As of March 31, 2018, we estimated that $126 million of net derivative losses related to our cash flow hedges included in accumulated other comprehensive income will be reclassified into earnings within the next 12 months. During the three months ended March 31, 2018 and 2017, we did not discontinue any cash flow hedges because it was probable that the original forecasted transaction would not occur and as such, did not reclassify any gains or losses to earnings. If we elect to discontinue our cash flow hedges and it is probable that the original forecasted transaction will occur, we continue to report them in accumulated other comprehensive income (loss) until the forecasted transaction affects earnings at which point we also reclassify the de-designated hedges into earnings. Gains and losses on derivatives held after we discontinue our cash flow hedge and gains and losses on derivative instruments that are not designated as cash flow hedges are recorded in the same financial statement line item to which the derivative relates.

We have an additional foreign currency exposure management program whereby we use foreign exchange contracts to offset the foreign exchange risk on our assets and liabilities denominated in currencies other than the functional currency of our subsidiaries. These contracts are not designated as hedging instruments and reduce, but do not entirely eliminate, the impact of currency exchange rate movements on our assets and liabilities. The foreign currency gains and losses on our assets and liabilities are recorded in other income (expense), net, which is offset by the gains and losses on the foreign exchange contracts.

Fair Value of Derivative Contracts

The fair value of our outstanding derivative instruments as of March 31, 2018 and December 31, 2017 was as follows:
 
Balance Sheet Location
 
March 31,
2018
 
December 31,
2017
 
 
 
(In millions)
Derivative Assets:
 
 
 
 
 
Foreign exchange contracts designated as cash flow hedges
Other current assets
 
$
5

 
$

Foreign exchange contracts not designated as hedging instruments
Other current assets
 
51

 
66

Total derivative assets
 
 
$
56

 
$
66

 
 
 
 
 
 
Derivative Liabilities:
 
 
 
 
 
Foreign exchange contracts designated as cash flow hedges
Other current liabilities
 
$
122

 
$
94

Foreign exchange contracts not designated as hedging instruments
Other current liabilities
 
75

 
124

Total derivative liabilities
 
 
$
197

 
$
218

 
 
 
 
 
 
Net fair value of derivative instruments
 
 
$
(141
)
 
$
(152
)


Master Netting Agreements - Rights of Setoff

Under master netting agreements with respective counterparties to our foreign exchange contracts, subject to applicable requirements, we are allowed to net settle transactions of the same type with a single net amount payable by one party to the other.
However, we have elected to present the derivative assets and derivative liabilities on a gross basis in our condensed consolidated balance sheet. Rights of setoff associated with our foreign exchange contracts represented a potential offset to both assets and liabilities by $52 million as of March 31, 2018 and $56 million as of December 31, 2017. During the year ended December 31, 2017, we entered into collateral security arrangements that provide for collateral to be received or posted when the net fair value of certain financial instruments fluctuates from contractually established thresholds. We posted $70 million and $38 million of cash collateral related to our derivative liabilities as of March 31, 2018 and December 31, 2017, respectively, which is recognized in other current assets on our condensed consolidated balance sheet and is related to the right to reclaim cash collateral. We received $6 million in counterparty cash collateral related to our derivative assets as of March 31, 2018 which is recognized in other current liabilities on our condensed consolidated balance sheet and is related to the obligation to return cash collateral. We did not receive any counterparty cash collateral as of December 31, 2017

Effect of Derivative Contracts on Accumulated Other Comprehensive Income (Loss)

The following table summarizes the activity of derivative contracts that qualify for hedge accounting as of March 31, 2018 and December 31, 2017, and the impact of designated derivative instruments on accumulated other comprehensive income (loss) for the three months ended March 31, 2018 and 2017:
 
December 31, 2017
 
Amount of gains (losses)
recognized in other
comprehensive income
 
Less: Amount of gains (losses)
reclassified from
accumulated other
comprehensive income
to net revenue
 
March 31, 2018
 
(In millions)
Foreign exchange contracts designated as cash flow hedges
$
(111
)
 
$
(62
)
 
$
(44
)
 
$
(129
)


 
December 31, 2016
 
Amount of gains (losses)
recognized in other
comprehensive income
 
Less: Amount of gains (losses)
reclassified from
accumulated other
comprehensive income
to net revenue
 
March 31, 2017
 
(In millions)
Foreign exchange contracts designated as cash flow hedges
$
131

 
$
(32
)
 
$
40

 
$
59


 
Effect of Derivative Contracts on Condensed Consolidated Statements of Income
The following table provides the location in the condensed consolidated statements of income and amount of the recognized gains or losses related to our derivative instruments designated as hedging instruments:
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions)
 
Revenue
 
Revenue
Total amounts presented in the condensed consolidated statement of income in which the effects of cash flow hedges are recorded
$
3,685

 
$
2,975

Gains (losses) on foreign exchange contracts designated as cash flow hedges reclassified from accumulated other comprehensive income into net income
$
(44
)
 
$
40


The following table provides the location in the condensed consolidated statements of income and amount of the recognized gains or losses related to our derivative instruments not designated as hedging instruments:
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions)
Gains (losses) on foreign exchange contracts recognized in other income (expense), net
$
(44
)
 
$
(40
)
Gains (losses) on foreign exchange contracts recognized in net revenues
(6
)
 
$

Total gains (losses) recognized from foreign exchange contracts not designated as hedging instruments
$
(50
)
 
$
(40
)



Notional Amounts of Derivative Contracts

Derivative transactions are measured in terms of the notional amount; however, this amount is not recorded on the balance sheet and is not, when viewed in isolation, a meaningful measure of the risk profile of the derivative instruments. The notional amount is generally not exchanged, but is used only as the underlying basis on which the value of foreign exchange payments under these contracts is determined. The following table provides the notional amounts of our outstanding derivatives:
 
March 31, 2018
 
December 31, 2017
 
(In millions)
Foreign exchange contracts designated as cash flow hedges
$
3,309

 
$
2,639

Foreign exchange contracts not designated as hedging instruments
6,515

 
5,669

Total
$
9,824

 
$
8,308

XML 28 R17.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans and Interest Receivable
3 Months Ended
Mar. 31, 2018
Receivables [Abstract]  
Loans and Interest Receivable
Loans and Interest Receivable

We offer credit products to consumers and certain small and medium-sized merchants. We work with independent chartered financial institutions that extend credit to the consumer or merchant using our credit products in the U.S. For our consumer credit products outside the U.S., we extend credit through our Luxembourg banking subsidiary. For our merchant credit products outside the U.S., we extend working capital advances in the U.K. through our Luxembourg banking subsidiary, and we extend working capital loans in Australia through an Australian subsidiary. We purchase the related receivables extended by an independent chartered financial institution and are responsible for servicing functions related to all our credit products. During the three months ended March 31, 2018 and 2017, we purchased approximately $3.0 billion and $2.1 billion, respectively, in credit receivables.

Loans and Interest Receivable, Held for Sale

In November 2017, we reached an agreement to sell our U.S. consumer credit receivables portfolio to Synchrony Bank. Historically, this portfolio was reported as outstanding principal balances, net of any participation interest sold and pro-rata allowances, including unamortized deferred origination costs and estimated collectible interest and fees. Upon approval of our Board of Directors to sell these receivables, the portfolio was reclassified as held for sale and recorded at the lower of cost or fair value, determined on an aggregate basis. As of March 31, 2018 and December 31, 2017, the total outstanding balance in our held for sale portfolio was $6.5 billion and $6.4 billion, respectively, net of the participation interest sold to an independent chartered financial institution and other investors of $1.1 billion and $1.1 billion, respectively.

We use consumer FICO scores, where available, among other measures, in evaluating the credit quality of our U.S. PayPal Credit consumer receivables, held for sale. A FICO score is a type of credit score that lenders use to assess an applicant's credit risk and whether to extend credit. Individual FICO scores are generally obtained each quarter in which the U.S. consumer has an outstanding consumer receivable that we own. The weighted average U.S. consumer FICO scores related to our loans and interest receivable, held for sale balance outstanding at March 31, 2018 and December 31, 2017 was 679 and 680, respectively.

As of March 31, 2018 and December 31, 2017, approximately 50.4% and 51.1%, respectively, of the pool of loans and interest receivable, held for sale was due from U.S. consumers with FICO scores greater than or equal to 680, which is generally considered "prime" by the consumer credit industry. As of March 31, 2018 and December 31, 2017, approximately 12.3% and 11.7%, respectively, of the pool of loans and interest receivable, held for sale was due from U.S. customers with FICO scores below 599.

The following table presents the principal amount of U.S. consumer loans and interest receivable segmented by a FICO score range:
 
March 31, 2018
  
December 31, 2017
 
(In millions)
> 760
$
812

 
$
832

680 - 759
2,474

 
2,439

600 - 679
2,432

 
2,378

< 599
804

 
752

Total
$
6,522

 
$
6,401



FICO score segmentation included in the table above provides the credit quality of these receivables for comparative purposes only.

The following table presents the delinquency status of U.S. consumer loans and interest receivable, held for sale. The amounts shown below are based on the number of days past the billing date to the consumer. Current represents balances that are within 30 days of the billing date. As of March 31, 2018 and December 31, 2017, approximately 91.9% and 90.6%, respectively, of the portfolio of U.S. consumer loans and interest receivable, held for sale was current.

March 31, 2018(1)
(In millions)
Current
 
30 - 59 Days
 
60 - 89 Days
 
90 - 180 Days
 
Total Past 30 days
 
Total
$
5,994

 
$
208

 
$
88

 
$
232

 
$
528

 
$
6,522

(1) Includes approximately $31 million of U.S. consumer loans and interest receivables not designated as held for sale that are fully reserved and are expected to be charged off, and excludes approximately $46 million related to accrued unbilled interest.
December 31, 2017(1)
(In millions)
Current
 
30 - 59 Days
 
60 - 89 Days
 
90 - 180 Days
 
Total Past 30 days
 
Total
$
5,800

 
$
240

 
$
103

 
$
258

 
$
601

 
$
6,401

(1) Includes approximately $50 million of U.S. consumer loans and interest receivables not designated as held for sale that are fully reserved and are expected to be charged off, and excludes approximately $47 million related to accrued unbilled interest.

No allowances are recorded for potential losses against the loans and interest receivable, held for sale portfolio. Adjustments to the cost basis of the held for sale portfolio, which are primarily driven by charge-offs, are recorded as incurred and recognized in restructuring and other charges in our consolidated statement of income.

Loans and Interest Receivable, Net

Consumer Receivables

We offer credit products to consumers who choose PayPal Credit as their funding source at checkout. As of March 31, 2018 and December 31, 2017, the outstanding balance in our pool of consumer receivables that excludes amounts classified as held for sale and primarily consists of loans and interest receivable due from international consumer accounts was $403 million and $326 million, respectively.

We closely monitor credit quality for our international consumer receivables to manage and evaluate our related exposure to credit risk. Credit risk management begins with initial underwriting and continues through to full repayment of a loan. To assess a consumer who requests a loan, we use, among other indicators, internally developed risk models using detailed information from external sources such as credit bureaus where available and internal historical experience including the consumer’s prior repayment history with PayPal Credit products as well as other measures. We use delinquency status and trends to assist in making new and ongoing credit decisions, to adjust our models, to plan our collection practices and strategies and in our determination of our allowance for international consumer loans and interest receivable.

The following tables present the delinquency status of the principal amount of international consumer loans and interest receivable. The amounts shown below are based on the number of days past the billing date to the consumer. Current represents balances that are within 30 days of the billing date. Amounts as of March 31, 2018 and December 31, 2017 represent loans and interest receivable due from consumer accounts excluding amounts classified as held for sale, of which approximately 95.3% and 96.0%, respectively, were current.
March 31, 2018
(In millions)
Current
 
30 - 59 Days Past Due
 
60 - 89 Days Past Due
 
90 - 180 Days Past Due
 
Total Past Due
 
Total
$
384

 
$
10

 
$
3

 
$
6

 
$
19

 
$
403


December 31, 2017
(In millions)
Current
 
30 - 59 Days Past Due
 
60 - 89 Days Past Due
 
90 - 180 Days Past Due
 
Total Past Due
 
Total
$
313

 
$
7

 
$
2

 
$
4

 
$
13

 
$
326



We charge off consumer loan receivable balances in the month in which a customer balance becomes 180 days past the payment due date. Bankrupt accounts are charged off within 60 days after receipt of notification of bankruptcy. Loans receivable past the payment due date continue to accrue interest until they are charged off. We record an allowance for loss against the interest and fees receivable.

The following table summarizes the activity in the allowance for consumer loans and interest receivable for the three months ended March 31, 2018 and 2017:
 
March 31, 2018
 
March 31, 2017(1)
 
Consumer Loans Receivable
Interest Receivable
Total Allowance(2)
  
Consumer Loans Receivable
Interest Receivable
Total Allowance
 
(In millions)
Beginning balance
$
57

$
6

$
63

 
$
265

$
40

$
305

Provisions
23

3

26

 
120

29

149

Charge-offs
(39
)
(3
)
(42
)
 
(104
)
(32
)
(136
)
Recoveries



 
10


10

Ending balance
$
41

$
6

$
47

 
$
291

$
37

$
328

(1) Includes allowance related to loans and interest receivable, held for sale portfolio prior to its designation as held for sale.
(2) Beginning and ending balances include approximately $50 million and $31 million, respectively, of U.S. consumer receivables not designated as held for sale that are fully reserved and are expected to be charged off.

The tables above exclude receivables from other consumer credit products of $57 million and $55 million at March 31, 2018 and December 31, 2017, respectively, and allowances of $9 million and $7 million at March 31, 2018 and December 31, 2017, respectively.

The provision for loan losses relating to our international consumer loans receivable portfolio is recognized in transaction and loan losses. The provision for interest receivable due to interest and fees earned on our international consumer loans receivable portfolio is recognized in net revenues from other value added services as a reduction in revenue.

Merchant Receivables

We offer business financing solutions to certain existing small and medium-sized merchants through our PayPal Working Capital ("PPWC") product and, subsequent to our acquisition of Swift Capital ("Swift") in September 2017, through Swift business loan products. As of March 31, 2018 and December 31, 2017, the total outstanding balance in our pool of merchant loans, advances, interest and fees receivable was $1.2 billion and $1.0 billion, respectively, net of the participation interest sold to an independent chartered financial institution of $28 million and $28 million, respectively.

Through our PPWC product, merchants can borrow a certain percentage of their annual payment volume processed by PayPal and are charged a fixed fee for the loan or advance, which targets an annual percentage rate based on the overall credit assessment of the merchant. Loans and advances are repaid through a fixed percentage of the merchant's future payment volume that PayPal processes. Through our Swift business loan products, we provide merchants with access to short-term business financing based on an evaluation of both the applying business as well as the business owner. Swift business loans are collected by periodic payments until the balance has been satisfied.

The interest or fee is fixed at the time the loan or advance is extended and recognized as deferred revenues included in other current liabilities in our condensed consolidated balance sheet. The fixed interest or fee is amortized to net revenues from other value added services based on the amount repaid over the repayment period. We estimate the repayment period based on the merchant's payment processing history with PayPal, where available. For PPWC product, there is a general requirement that at least 10% of the original amount of the loan or advance plus the fixed fee must be repaid every 90 days. We calculate the repayment rate of the merchant's future payment volume so that repayment of the loan or advance and fixed fee is expected to generally occur within 9 to 12 months from the date of the loan or advance. On a monthly basis, we recalculate the repayment period based on the repayment activity on the receivable. As such, actual repayment periods are dependent on actual merchant payment processing volumes. For Swift business loans, we receive fixed periodic payments over the contractual term of the loan which generally ranges from 3 to 12 months. We actively monitor receivables with repayment periods greater than the original expected or contractual repayment period.

We closely monitor credit quality for our merchant loans and advances that we extend or purchase so that we can evaluate, quantify, and manage our credit risk exposure. To assess a merchant seeking a business financing loan or advance, we use, among other indicators, risk models developed internally which utilize information obtained from multiple data sources, both external and internal data to predict the likelihood of timely and satisfactory repayment by the merchant of the loan or advance amount and the related interest or fixed fee. Primary drivers of the models include the merchant's annual payment volume, payment processing history with PayPal and prior repayment history with the PayPal products where available, elements sourced from consumer credit bureau and business credit bureau reports, and other information obtained during the application process. We use delinquency status and trends to assist in making ongoing credit decisions, to adjust our internal models, to plan our collection practices and strategies and in our determination of our allowance for these loans and advances.

Merchant Receivables Delinquency and Allowance

The following tables present our estimate of the principal amount of merchant loans, advances, interest and fees receivable past their original expected or contractual repayment period.
March 31, 2018
(In millions)
Within Original Expected Repayment Period
 
30 - 59 Days Greater
 
60 - 89 Days Greater
 
90 - 180 Days Greater
 
180+ Days
 
Total Past Original Expected Repayment Period
 
Total
$
1,105

 
$
44

 
$
28

 
$
40

 
$
10

 
$
122

 
$
1,227

December 31, 2017
(In millions)
Within Original Expected Repayment Period
 
30 - 59 Days Greater
 
60 - 89 Days Greater
 
90 - 180 Days Greater
 
180+ Days
 
Total Past Original Expected Repayment Period
 
Total
$
884

 
$
44

 
$
28

 
$
43

 
$
13

 
$
128

 
$
1,012


The following table summarizes the activity in the allowance for merchant loans and advances, interest and fees receivable, for the three months ended March 31, 2018 and 2017:
 
March 31, 2018
 
March 31, 2017
 
Merchant Loans and Advances
Interest and Fees Receivable
Total Allowance
  
Merchant Loans and Advances
Interest and Fees Receivable
Total Allowance
 
(In millions)
Beginning balance
$
52

$
7

$
59

 
$
28

$
3

$
31

Provisions
39

6

45

 
9

2

11

Charge-offs
(21
)
(2
)
(23
)
 
(10
)
(2
)
(12
)
Recoveries
2


2

 
2


2

Ending balance
$
72

$
11

$
83

 
$
29

$
3

$
32



For merchant loans and advances, the determination of delinquency, from current to 180 days past due, is based on the current expected or contractual repayment period of the loan or advance and fixed interest or fee payment as compared to the original expected or contractual repayment period. For Swift business loans, we charge off the receivable when the repayments are 180 days past due. For PPWC product, we charge off the receivable when the repayments are 180 days past our expectation of repayments and the merchant has not made a payment in the last 60 days or when the repayments are 360 days past due regardless of whether or not the merchant has made a payment within the last 60 days. Bankrupt accounts are charged off within 60 days of receiving notification of bankruptcy. The provision for loan losses is recognized in transaction and loan losses, and the provisions for interest and fees receivable is recognized in deferred revenues included in other current liabilities in our condensed consolidated balance sheet. Charge-offs that are recovered are recorded as a reduction to our allowance for loans and interest receivable.
XML 29 R18.htm IDEA: XBRL DOCUMENT v3.8.0.1
Notes Payable
3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Notes Payable
Notes Payable

In the fourth quarter of 2017, we entered into a credit agreement ("2017 Credit Agreement") that provides for an unsecured $3.0 billion, 364-day delayed-draw term loan credit facility, which is available in up to three borrowings. Borrowings and other amounts payable under the 2017 Credit Agreement are guaranteed by PayPal, Inc. Subject to specified conditions, we may designate one or more of our subsidiaries as additional borrowers under the 2017 Credit Agreement provided that we and PayPal, Inc. guarantee all borrowings and other obligations of any such subsidiaries under the 2017 Credit Agreement. As of March 31, 2018, no subsidiaries were designated as additional borrowers. Funds borrowed under the 2017 Credit Agreement may be used for capital allocation and other general corporate purposes. During the three months ended March 31, 2018, we effected two drawdowns aggregating to $2.0 billion under the 2017 Credit Agreement. As of March 31, 2018, $3.0 billion was outstanding under the 2017 Credit Agreement at a weighted average interest rate of 2.88%. Accordingly, at March 31, 2018, no borrowing capacity was available under the 2017 Credit Agreement. The total interest expense and fees we recorded related to this credit facility was approximately $15 million for the three months ended March 31, 2018. On April 5, 2018, we repaid $1.0 billion of the borrowings outstanding under the 2017 Credit Agreement. No remaining borrowing capacity is available under this agreement.

We maintain uncommitted credit facilities in various regions throughout the world, aggregating to approximately $350 million of borrowing capacity. Interest rate terms for these facilities vary by region and reflect prevailing market rates for companies with strong credit ratings. As of March 31, 2018, no amounts were outstanding under those facilities, and therefore, approximately $350 million of borrowing capacity was available, subject to customary conditions to borrowing.

In the third quarter of 2015, we entered into a credit agreement ("2015 Credit Agreement") that provides for an unsecured $2.0 billion, five-year revolving credit facility that includes a $150 million letter of credit sub-facility and a $150 million swingline sub-facility, with available borrowings under the revolving credit facility reduced by the amount of any letters of credit and swingline borrowings outstanding. Borrowings and other amounts payable under the 2015 Credit Agreement are guaranteed by PayPal, Inc. We may also, subject to the agreement of the applicable lenders, increase the commitments under the revolving credit facility by up to $500 million. Loans under the 2015 Credit Agreement will bear interest at either (i) London Interbank Offered Rate ("LIBOR") plus a margin (based on our public debt ratings) ranging from 1.00 percent to 1.625 percent or (ii) a formula based on the agent bank’s prime rate, the federal funds effective rate or LIBOR plus a margin (based on our public debt ratings) ranging from zero percent to 0.625 percent. Subject to specified conditions, we may designate one or more of our subsidiaries as additional borrowers under the 2015 Credit Agreement provided that we and PayPal, Inc. guarantee all borrowings and other obligations of any such subsidiaries under the 2015 Credit Agreement. As of March 31, 2018, no subsidiaries were designated as additional borrowers. Funds borrowed under the 2015 Credit Agreement may be used for working capital, capital expenditures, acquisitions and other general corporate purposes. As of March 31, 2018, no borrowings or letters of credit were outstanding under the 2015 Credit Agreement. Accordingly, at March 31, 2018, $2.0 billion of borrowing capacity was available for the purposes permitted by the 2015 Credit Agreement, subject to customary conditions to borrowing.
XML 30 R19.htm IDEA: XBRL DOCUMENT v3.8.0.1
Commitments and Contingencies
3 Months Ended
Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Commitments and Contingencies

Commitments

As of March 31, 2018 and December 31, 2017, approximately $27.3 billion and $26.4 billion, respectively, of unused credit was available to PayPal Credit account holders. While this amount represents the total unused credit available, we have not experienced, and do not anticipate, that all of our PayPal Credit account holders will access their entire available credit at any given point in time. In addition, the individual lines of credit that make up this unused credit are subject to periodic review and termination by the chartered financial institution that is the issuer of PayPal Credit products based on, among other things, account usage and customer creditworthiness. When a consumer funds a purchase in the U.S. using a PayPal Credit product issued by a chartered financial institution, the chartered financial institution extends credit to the consumer, funds the extension of credit at the point of sale and advances funds to the merchant. We subsequently purchase the receivables related to the consumer loans extended by the chartered financial institution and, as a result of such purchase, bear the risk of loss in the event of loan defaults. Although the chartered financial institution continues to own each customer account, we own the related receivable (excluding participation interests sold) and are responsible for all servicing functions related to the account.

Litigation and Regulatory Matters

Overview

We are involved in legal and regulatory proceedings on an ongoing basis. Many of these proceedings are in early stages, and may seek an indeterminate amount of damages. If we believe that a loss arising from such matters is probable and can be reasonably estimated, we accrue the estimated liability in our financial statements. If only a range of estimated losses can be determined, we accrue an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, we accrue the low end of the range. For those proceedings in which an unfavorable outcome is reasonably possible but not probable, we have disclosed an estimate of the reasonably possible loss or range of losses or we have concluded that an estimate of the reasonably possible loss or range of losses arising directly from the proceeding (i.e., monetary damages or amounts paid in judgment or settlement) are not material. If we cannot estimate the probable or reasonably possible loss or range of losses arising from a legal proceeding, we have disclosed that fact. In assessing the materiality of a legal proceeding, we evaluate, among other factors, the amount of monetary damages claimed, as well as the potential impact of non-monetary remedies sought by plaintiffs (e.g., injunctive relief) that may require us to change our business practices in a manner that could have a material adverse impact on our business. With respect to the matters disclosed in this Note 13, we are unable to estimate the possible loss or range of losses that could potentially result from the application of such non-monetary remedies.

Amounts accrued for legal and regulatory proceedings for which we believe a loss is probable were not material for the three months ended March 31, 2018. Except as otherwise noted for the proceedings described in this Note 13, we have concluded, based on currently available information, that reasonably possible losses arising directly from the proceedings (i.e., monetary damages or amounts paid in judgment or settlement) in excess of our recorded accruals are also not material. However, legal and regulatory proceedings are inherently unpredictable and subject to significant uncertainties. If one or more matters were resolved against us in a reporting period for amounts in excess of management’s expectations, the impact on our operating results or financial condition for that reporting period could be material.

Regulatory Proceedings

We are required to comply with U.S. economic and trade sanctions administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”). We have self-reported to OFAC certain transactions that were inadvertently processed but subsequently identified as possible violations of U.S. economic and trade sanctions. In March 2015, we reached a settlement with OFAC regarding possible violations arising from our sanctions compliance practices between 2009 and 2013, prior to the implementation of our real-time transaction scanning program. Subsequently, we have self-reported additional transactions as possible violations, and we have received new subpoenas from OFAC seeking additional information about certain of these transactions. Such self-reported transactions could result in claims or actions against us, including litigation, injunctions, damage awards, fines or penalties, or require us to change our business practices in a manner that could result in a material loss, require significant management time, result in the diversion of significant operational resources or otherwise harm our business.

On March 28, 2016, we received a Civil Investigative Demand (“CID”) from the Federal Trade Commission (“FTC”) as part of its investigation to determine whether we, through our Venmo service, have been or are engaged in deceptive or unfair practices in violation of the Federal Trade Commission Act. The CID requested the production of documents and answers to written questions related to our Venmo service. We have cooperated with the FTC in connection with the CID. On February 27, 2018, we entered into a Consent Order with the FTC in which we settled potential allegations arising from our Venmo services between 2013 and 2017. The Consent Order does not contain a monetary penalty, but requires PayPal to make various changes to Venmo’s disclosures and business practices. The Consent Order was subject to public comment through March 29, 2018 and is subject to final approval by the FTC. As required by the Consent Order, we will cooperate with the FTC’s requirements and work to ensure compliance with the Consent Order. Any failure to comply with the Consent Order may increase the possibility of additional adverse consequences, including litigation, additional regulatory actions, injunctions, or monetary penalties, or require further changes to our business practices, significant management time, or the diversion of significant operational resources, all of which could result in a material loss or otherwise harm our business.

Legal Proceedings

On January 12, 2017, a putative shareholder derivative action captioned Silverman v. Schulman, et al., Case No. 5:17-cv-00162 (the “California Derivative Case”) was filed in the U.S. District Court for the Northern District of California (the "Court"). On March 24, 2017, a second derivative action substantially similar to the California Derivative Case captioned Seeman v. Schulman, et al., Case No. 1:17-cv-00318-UNA, was filed in the U.S. District Court for the District of Delaware (the “Delaware Derivative Case”). On April 19, 2017, the Delaware court in the Delaware Derivative Case issued an order adopting a stipulation filed by the parties transferring the Delaware Derivative Case to the Court so that the Delaware Derivative Case could be consolidated with the pending California Derivative Case. On April 27 and 28, 2017, two additional shareholder derivative lawsuits substantially similar to the California Derivative Case and Delaware Derivative Case were filed in the Court. These cases are captioned Sims v. Schulman, et al., Case No. 1:17-cv-02428, and Liss v. Schulman, et al., Case No. 1:17-cv-02446-NC (together with the California Derivative Case and the Delaware Derivative Case, the “Derivative Cases”). The Derivative Cases are purportedly brought on behalf of the Company and assert claims relating to our disclosure in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2016, that on March 28, 2016, we received a CID from the FTC as part of its investigation to determine whether we, through our Venmo service, have been or are engaged in deceptive or unfair practices in violation of the Federal Trade Commission Act. The Derivative Cases allege that the Company’s Chief Executive Officer, Chief Financial Officer, former interim Chief Financial Officer, and certain members of its Board of Directors breached their fiduciary duties to the Company, violated Section 14(a) of the Exchange Act, and were unjustly enriched by, among other things, causing or permitting the Company to issue materially false and misleading statements or omissions regarding the Company’s compliance with applicable laws and regulations with respect to its Venmo service, and/or by permitting or causing the Company to engage in unfair trade practices through its Venmo service. The Derivative Cases seek, among other things, to recover unspecified compensatory damages on behalf of the Company arising out of the individual defendants’ alleged wrongful conduct. Although plaintiffs in the Derivative Cases do not seek relief against the Company, we have certain indemnification obligations to the individual defendants. On June 30, 2017, the Court issued an order approving a stipulation filed by the parties in the Derivative Cases that consolidates these cases and appoints co-lead plaintiffs’ counsel for the consolidated case, captioned In re PayPal Holdings, Inc. Shareholder Derivative Litigation, Lead Case No. 5:17-cv-00162-RS (the “Consolidated Derivative Case”). The Court’s order states that it applies to each purported derivative action that is subsequently filed in, removed to, or transferred to the Court, arising out of the same or substantially the same transactions or events as the Derivative Cases. On July 31, 2017, plaintiffs’ counsel designated the complaint filed in the Liss action as the operative complaint for the Consolidated Derivative Case. On October 5, 2017, another putative shareholder derivative suit was filed in the Court captioned Iron Workers Local No. 25 Pension Fund v. John J. Donahoe, et al., Case No. 5:17-cv-05741-NC, that makes similar allegations and advances similar claims against the same defendants as those at issue in the Consolidated Derivative Case. Pursuant to the Court’s consolidation order, this shareholder derivative suit is part of the Consolidated Derivative Case. On September 28, 2017, we filed a motion to dismiss the operative complaint on grounds that plaintiffs lack standing to pursue claims on behalf of the Company because they did not make a pre-suit demand on the Company’s Board of Directors prior to filing the Derivative Cases and failed to establish that making such a demand would have been futile. On January 18, 2018, the Court granted our motion to dismiss with leave to amend and gave plaintiffs 30 days from that date to file an amended complaint. On February 16, 2018, plaintiffs in the Consolidated Derivative Case filed an amended complaint. Plaintiffs’ counsel also sent a letter dated February 15, 2018 to counsel for the defendants that purports to be a litigation demand on the Company's Board of Directors. In April 2018, defendants in the Consolidated Derivative Case entered into a tolling agreement that tolls the running of any statute of limitations applicable to the claims at issue in the lawsuit and the litigation demand plaintiffs sent to the Company's Board of Directors until 30 days from the time the Board issues a final response to the demand or three years elapse from the date of the tolling agreement, whichever comes first. Pursuant to the agreement, plaintiffs in the Consolidated Derivative Case have agreed to voluntarily dismiss the lawsuit without prejudice for now.

We have received subpoenas from the U.S. Department of Justice (“DOJ”) seeking the production of certain information related to our historical anti-money laundering program. We are cooperating with the DOJ in providing information in response to the subpoenas. We are unable to predict the outcome of the government's investigation.
In November 2017, we announced that we had suspended the operations of TIO Networks (“TIO”) as part of an ongoing investigation of security vulnerabilities of the TIO platform. On December 1, 2017 we announced that we had identified evidence of unauthorized access to TIO’s network, including locations that stored personal information of some of TIO’s customers and customers of TIO billers and the potential compromise of personally identifiable information for approximately 1.6 million customers. We have received a number of governmental inquiries, including from state attorneys general, and we may be subject to additional governmental inquiries and investigations in the future. In addition, on December 6, 2017, a putative class action lawsuit captioned Sgarlata v. PayPal Holdings, Inc., et al., Case No. 3:17-cv-06956 was filed in the Court against the Company, its Chief Executive Officer, its Chief Financial Officer and Hamed Shahbazi, the former chief executive officer of TIO (the “Defendants”) alleging violations of federal securities laws. Specifically, the lawsuit alleges that Defendants made false or misleading statements or failed to disclose that TIO’s data security program was inadequate to safeguard the personally identifiable information of its users, those vulnerabilities threatened continued operation of TIO’s platform, the Company’s revenues derived from TIO services were thus unsustainable, and consequently, the Company overstated the benefits of the TIO acquisition, and, as a result, the Company’s public statements were materially false and misleading at all relevant times. The plaintiff who initiated the lawsuit sought to represent a class of shareholders who acquired shares of the Company’s common stock between February 14, 2017 through December 1, 2017 and sought damages and attorneys’ fees, among other relief. On March 16, 2018, the Court appointed two new plaintiffs, not the original plaintiff who filed the case, as interim co-lead plaintiffs in the case and appointed two law firms as interim co-lead counsel. Pursuant to stipulations entered into by the parties to the case, the Court issued orders on March 30 and April 6, 2018 providing for the publication by interim co-lead counsel of an amended notice under the Private Securities Litigation Reform Act given the anticipated amendment of the complaint to include an amended class definition that includes individuals who purchased options to purchase our common stock between February 14, 2017 through December 1, 2017, the filing of an amended complaint by co-lead plaintiffs within seventy-five days of the March 30, 2018 order, and a briefing schedule on the Defendants’ anticipated motions to dismiss the amended complaint. We may be subject to additional litigation relating to TIO’s data security platform or the suspension of TIO’s operations in the future.

General Matters
Other third parties have from time to time claimed, and others may claim in the future, that we have infringed their intellectual property rights. We are subject to patent disputes, and expect that we will increasingly be subject to additional patent infringement claims involving various aspects of our business as our products and services continue to expand in scope and complexity. Such claims may be brought directly or indirectly against our companies and/or against our customers (who may be entitled to contractual indemnification under their contracts with us), and we are subject to increased exposure to such claims as a result of our acquisitions, particularly in cases where we are entering into new lines of business in connection with such acquisitions. We have in the past been forced to litigate such claims, and we believe that additional lawsuits alleging such claims will be filed against us. Intellectual property claims, whether meritorious or not, are time consuming and costly to defend and resolve, could require expensive changes in our methods of doing business or could require us to enter into costly royalty or licensing agreements on unfavorable terms or make substantial payments to settle claims or to satisfy damages awarded by courts.
From time to time, we are involved in other disputes or regulatory inquiries that arise in the ordinary course of business, including suits by our customers (individually or as class actions) alleging, among other things, improper disclosure of our prices, rules or policies, that our practices, prices, rules, policies or customer/user agreements violate applicable law or that we have acted unfairly and/or not acted in conformity with such prices, rules, policies or agreements. In addition to these types of disputes and regulatory inquiries, our operations are also subject to regulatory and/or legal review and/or challenges that tend to reflect the increasing global regulatory focus to which the payments industry is subject and, when taken as a whole with other regulatory and legislative action, such actions could result in the imposition of costly new compliance burdens on our business and customers and may lead to increased costs and decreased transaction volume and revenue. Further, the number and significance of these disputes and inquiries are increasing as we have grown larger, our business has expanded in scope (both in terms of the range of products and services that we offer and our geographical operations) and our products and services have increased in complexity. Any claims or regulatory actions against us, whether meritorious or not, could be time consuming, result in costly litigation, settlement payments, damage awards (including statutory damages for certain causes of action in certain jurisdictions), fines, penalties, injunctive relief or increased costs of doing business through adverse judgment or settlement, require us to change our business practices in expensive ways, require significant amounts of management time, result in the diversion of significant operational resources or otherwise harm our business.

Indemnification Provisions
We entered into a separation and distribution agreement, a tax matters agreement, an operating agreement and various other agreements with eBay to govern the separation and relationship of the two companies going forward. These agreements provide for specific indemnity and liability obligations and could lead to disputes between us and eBay, which may be significant. In addition, the indemnity rights we have against eBay under the agreements may not be sufficient to protect us, and our indemnity obligations to eBay may be significant.
In the ordinary course of business, we include limited indemnification provisions in certain of our agreements with parties with whom we have commercial relationships, including our standard marketing, promotions, and application-programming-interface license (API) agreements. Under these contracts, we generally indemnify, hold harmless, and agree to reimburse the indemnified party for losses suffered or incurred by the indemnified party in connection with claims by any third party with respect to our domain names, trademarks, logos, and other branding elements to the extent that such marks are related to the subject agreement. In a limited number of agreements, we have provided an indemnity for other types of third-party claims, which are indemnities mainly related to intellectual property rights. We have also provided an indemnity to our payments processors in the event of certain third-party claims or card association fines against the processor arising out of conduct by us or our customers. It is not possible to determine the maximum potential loss under these indemnification provisions due to our limited history of prior indemnification claims and the unique facts and circumstances involved in each particular situation. To date, no significant costs have been incurred, either individually or collectively, in connection with our indemnification provisions.

Off-Balance Sheet Arrangements

As of March 31, 2018 and December 31, 2017, we had no off-balance sheet arrangements that have, or are reasonably likely to have, a current or future material effect on our consolidated financial condition, results of operations, liquidity, capital expenditures or capital resources.

Protection Programs

We provide merchants and consumers with protection programs on substantially all transactions completed through our Payments Platform, except for transactions using our gateway products. These programs protect both merchants and consumers from loss primarily due to fraud and counterparty performance. Our Buyer Protection Program provides protection to consumers for qualifying purchases by reimbursing the consumer for the full amount of the purchase if a purchased item does not arrive or does not match the seller’s description. Our Seller Protection Programs provide protection to merchants against claims that a transaction was not authorized by the buyer or claims that an item was not received by covering the seller for the full amount of the payment on eligible sales.

The maximum potential exposure under our protection programs is estimated to be the portion of total eligible transaction volume (TPV) for which buyer or seller protection claims may be raised under our existing user agreements. Since eligible transactions are typically completed in a period significantly shorter than the period under which disputes may be opened, and based on our historical losses to date, we do not believe that the maximum potential exposure is representative of our actual potential exposure. The actual amount of potential exposure cannot be quantified as we are unable to determine total eligible transactions where performance by a merchant or customer is incomplete or completed transactions that may result in a claim under our protection programs. We record a liability with respect to losses under these protection programs when they are probable and the amount can be reasonably estimated.

The following table provides management's estimate of the maximum potential exposure related to our protection programs as of March 31, 2018 and December 31, 2017:
 
March 31, 2018
  
December 31, 2017
 
(In millions)
Maximum potential exposure
$
173,764

 
$
165,207



The following table provides the amount of allowance for transaction losses and negative customer balances related to our protection programs as of March 31, 2018 and December 31, 2017:
 
March 31, 2018
  
December 31, 2017
 
(In millions)
Allowance for transaction losses and negative customer balances
$
283

 
$
266

XML 31 R20.htm IDEA: XBRL DOCUMENT v3.8.0.1
Related Party Transactions
3 Months Ended
Mar. 31, 2018
Related Party Transactions [Abstract]  
Related Party Transactions
Related Party Transactions

As of March 31, 2018 and December 31, 2017, there were no material amounts payable to or amounts receivable from related parties. For all periods presented, there were no material related party transactions.
XML 32 R21.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock Repurchase Programs
3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Stock Repurchase Programs
Stock Repurchase Programs

In April 2017, our Board of Directors authorized a stock repurchase program that provides for the repurchase of up to $5 billion of our common stock, with no expiration from the date of authorization. The stock repurchase program is intended to offset the impact of dilution from our equity compensation programs and, subject to market conditions and other factors, may also be used to make opportunistic repurchases of our common stock to reduce outstanding share count. Any share repurchases under our stock repurchase program may be made through open market transactions, block trades, privately negotiated transactions including accelerated share repurchase agreements or other means at times and in such amounts as management deems appropriate and will be funded from our working capital or other financing alternatives. However, any stock repurchases are subject to market conditions and other uncertainties and we cannot predict if or when any stock repurchases will be made. Moreover, we may terminate our stock repurchase program at any time without notice.

In February 2018, we entered into an accelerated share repurchase ("ASR") agreement with an unrelated third party financial institution to repurchase shares of our common stock. Under the terms of the ASR agreement, we made an upfront payment of approximately $1.0 billion to the third party financial institution and received approximately 12.8 million shares of our common stock during the term of the transaction, which ended in March 2018. The total number of shares of our common stock repurchased was based on the volume-weighted average share price of our common stock during the term of the transaction, less a discount and subject to adjustments pursuant to the terms of the applicable ASR agreement.

We recorded the initial payment of $1.0 billion as a reduction to stockholders' equity on our condensed consolidated balance sheet. All common stock received was recorded as treasury stock and the forward contract indexed to our own common stock met all applicable criteria for equity classification.

The stock repurchase activity under the April 2017 stock repurchase program during the three months ended March 31, 2018 is summarized as follows:
 
Shares Repurchased
 
Average Price
Paid per Share
(1) (2)
 
Cash Paid for Shares Repurchased
 
Remaining Amount Authorized
 
(In millions, except per share amounts)
Balance as of January 1, 2018
 
 
 
 
 
 
$
4,999

Repurchases of shares of common stock in the open market
10.8

 
$
76.82

 
825

 
4,174

Repurchases of shares of common stock under the ASR agreement
12.8

 
$
78.03

 
1,000

 
3,174

Balance as of March 31, 2018
23.6

 
 
 
$
1,825

 
$
3,174

(1)Average price paid per share for open market purchases includes broker commissions.
(2) Average price paid per share under the ASR agreement represents the volume-weighted average share price, less a discount and adjustments pursuant to the terms of the agreement. Treasury stock recorded for repurchases under the ASR agreement amounts to $985 million.

These repurchased shares of common stock were recorded as treasury stock for purposes of calculating earnings per share, and were accounted for under the cost method. No repurchased shares of common stock have been retired.
XML 33 R22.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Plans
3 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Plans
Stock-Based Plans

Stock Options

As of March 31, 20181.9 million options to purchase shares of common stock were outstanding. No new options were granted in the three months ended March 31, 2018.

Restricted Stock Units (RSUs) and Performance-Based Restricted Stock Units (PBRSUs)

The following table summarizes the RSU and PBRSU activity under our equity incentive plans for the three months ended March 31, 2018:
 
Units 
 
(In thousands)
Outstanding at January 1, 2018
33,875

Awarded(1)
12,103

Vested(1)
(9,663
)
Forfeited
(484
)
Outstanding at March 31, 2018
35,831

Expected to vest
30,871


(1) Includes approximately 2.1 million additional PBRSUs issued due to company performance in connection with the Company's 2017 annual incentive plan.

The weighted average grant-date fair value of RSUs and PBRSUs granted during the three months ended March 31, 2018 was $78.58 per share.

In the three months ended March 31, 2018, the Company granted RSUs that vest in equal annual installments over a three-year period, 1.5 million PBRSUs with a one-year performance period (fiscal 2018) and cliff vesting following the completion of the performance period in February 2019 (one year from the annual incentive award cycle grant date) and 0.7 million PBRSUs with a three-year performance period. Over the respective performance period, the number of PBRSUs that may be issued and the related stock-based compensation expense that is recognized is adjusted upward or downward based upon the probability of achieving the approved performance targets against the performance metrics. Depending on the probability of achieving the pre-established performance targets, the PBRSUs issued could range from 0% to 200% of the target amount.

Stock-based Compensation Expense

We record stock-based compensation expense for our equity incentive plans in accordance with the provisions of the authoritative accounting guidance, which requires the measurement and recognition of compensation expense based on estimated fair values.

The impact on our results of operations of recording stock-based compensation expense under our equity incentive plans for the three months ended March 31, 2018 and 2017 was as follows:
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions)
Customer support and operations
$
38

 
$
30

Sales and marketing
44

 
28

Product development
64

 
45

General and administrative
59

 
42

Depreciation and amortization
4

 
2

Total stock-based compensation expense
$
209

 
$
147

Capitalized as part of internal use software and website development costs
$
7

 
$
3

XML 34 R23.htm IDEA: XBRL DOCUMENT v3.8.0.1
Income Taxes
3 Months Ended
Mar. 31, 2018
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes

Our effective tax rate for the three months ended March 31, 2018 and 2017 was 7% and 12%, respectively. The difference between our effective tax rate for the three months ended March 31, 2018 and the U.S. federal statutory rate of 21% was primarily the result of foreign income taxed at different rates and discrete tax benefits related to stock-based compensation. The difference between our effective tax rate for the three months ended March 31, 2017 and the U.S. federal statutory rate of 35% was primarily the result of foreign income taxed at different rates.

During the three months ended March 31, 2018, we recognized tax expense adjustments of $3 million to the provisional amounts recorded at December 31, 2017 for the enactment-date effects of the Tax Act. All amounts recorded related to the enactment-date effects of the Tax Act as of March 31, 2018 are considered provisional estimates because we have not completed our accounting for certain elements of the Tax Act, including whether taxes due on future U.S. inclusions related to Global Intangible Low Taxed Income ("GILTI") are recorded as a current-period expense when incurred or whether such amounts should be factored into our measurement of its deferred taxes. As a result, for the period ended March 31, 2018, we have treated GILTI as a period cost. We will continue to refine our calculations as additional analysis is completed. Our provisional estimates may be affected as we gain a more thorough understanding of the Tax Act and any such changes to those estimates could be material to income tax expense.
XML 35 R24.htm IDEA: XBRL DOCUMENT v3.8.0.1
Restructuring
3 Months Ended
Mar. 31, 2018
Restructuring and Related Activities [Abstract]  
Restructuring
Restructuring

During the first quarter of 2018 and 2017, management approved strategic reductions of the existing global workforce, which resulted in restructuring charges of $25 million and $40 million, respectively. The reduction approved in the first quarter of 2018 also includes restructuring charges related to the decision to wind down TIO's operations. The reduction and timing of cash payments associated with the 2018 restructuring are expected to be substantially completed by the end of 2018. We incurred employee and severance benefits expenses under the 2017 strategic reduction, which was substantially completed by the end of the year.

The following table summarizes the restructuring reserve activity during the three months ended March 31, 2018:
 
Employee Severance and Benefits
 
(In millions)
Accrued liability as of January 1, 2018
$
2

Charges
25

Payments
(2
)
Accrued liability as of March 31, 2018
$
25

XML 36 R25.htm IDEA: XBRL DOCUMENT v3.8.0.1
Accumulated Other Comprehensive Income (Loss)
3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the three months ended March 31, 2018:
 
Unrealized Gains (Losses) on Cash Flow Hedges
 
Unrealized Gains (Losses) on Investments
 
Foreign
Currency
Translation
 
Estimated tax benefit
 
Total
 
(In millions)
Beginning balance
$
(111
)
 
$
(12
)
 
$
(25
)
 
$
6

 
$
(142
)
Other comprehensive income (loss) before reclassifications
(62
)
 
(16
)
 
2

 
4

 
(72
)
Less: Amount of gains (losses) reclassified from accumulated other comprehensive income
(44
)
 
(1
)
 

 

 
(45
)
Net current period other comprehensive income (loss)
(18
)
 
(15
)
 
2

 
4

 
(27
)
Ending balance
$
(129
)
 
$
(27
)
 
$
(23
)
 
$
10

 
$
(169
)

The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the three months ended March 31, 2017:
 
Unrealized Gains (Losses) on Cash Flow Hedges
 
Unrealized Gains (Losses) on Investments
 
Foreign
Currency
Translation
 
Estimated tax benefit
 
Total
 
(In millions)
Beginning balance
$
131

 
$
(5
)
 
$
(68
)
 
$
1

 
$
59

Other comprehensive income (loss) before reclassifications
(32
)
 

 
13

 
1

 
(18
)
Less: Amount of gains (losses) reclassified from accumulated other comprehensive income
40

 
(1
)
 

 

 
39

Net current period other comprehensive income (loss)
(72
)
 
1

 
13

 
1

 
(57
)
Ending balance
$
59

 
$
(4
)
 
$
(55
)
 
$
2

 
$
2


The following table provides details about reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2018 and 2017:
Details about Accumulated Other Comprehensive
Income (Loss) Components
 
Amount of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss)
 
Affected Line Item in the Statement of Income
 
 
Three Months Ended March 31,
 
 
 
 
2018
 
2017
 
 
 
 
(In millions)
 
 
Gains (losses) on cash flow hedges-foreign exchange contracts
 
$
(44
)
 
$
40

 
Net revenues
Unrealized gains (losses) on investments
 
(1
)
 
(1
)
 
Other income (expense), net
 
 
$
(45
)
 
$
39

 
Income before income taxes
 
 

 

 
Income tax expense
Total reclassifications for the period
 
$
(45
)
 
$
39

 
Net income
XML 37 R26.htm IDEA: XBRL DOCUMENT v3.8.0.1
Overview and Summary of Significant Accounting Policies (Policies)
3 Months Ended
Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation and Principles of Consolidation
The condensed consolidated financial statements include the financial statements of PayPal and our wholly and majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Investments in entities where we hold less than a 20% ownership interest are generally accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes, and our share of the investees’ results of operations and is included in other income (expense), net on our condensed consolidated statement of income to the extent dividends are received. Our investment balance is included in long-term investments on our condensed consolidated balance sheet.
Equity and Cost Method Investments
The condensed consolidated financial statements include the financial statements of PayPal and our wholly and majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Investments in entities where we hold less than a 20% ownership interest are generally accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes, and our share of the investees’ results of operations and is included in other income (expense), net on our condensed consolidated statement of income to the extent dividends are received. Our investment balance is included in long-term investments on our condensed consolidated balance sheet.
Principles of Consolidation
These condensed consolidated financial statements and accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2017 (the "2017 Form 10-K") filed with the Securities and Exchange Commission.
Use of Estimates
Use of Estimates

The preparation of condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses, during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to provisions for transaction and loan losses, loss contingencies, income taxes, revenue recognition and the valuation of goodwill and intangible assets. We base our estimates on historical experience and various other assumptions which we believe to be reasonable under the circumstances. Actual results could differ from those estimates.

Recent Accounting Guidance and Recently Adopted Accounting Guidance
Recent Accounting Guidance

In 2016, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance related to accounting for leases, which will require lessees to recognize lease assets and lease liabilities on the balance sheet for the rights and obligations created by all leases with terms greater than 12 months. As we are not a lessor, other changes in the guidance applicable to lessors do not apply. The guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. We will adopt the new guidance on January 1, 2019, using a modified retrospective basis and anticipate applying the optional practical expedients related to the transition. We are evaluating the impact of adopting this new accounting guidance on our financial statements.

In 2016, the FASB issued new guidance on the measurement of credit losses on financial instruments. Credit losses on loans, trade and other receivables, held-to-maturity debt securities and other instruments will reflect our current estimate of the expected credit losses that generally will result in the earlier recognition of allowances for losses. Credit losses on available-for-sale debt securities with unrealized losses will be recognized as allowances for credit losses limited to the amount by which fair value is below amortized cost. Additional disclosures will be required, including information used to track credit quality by year of origination for most financing receivables. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. We are required to apply the provisions of this guidance as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted with impairment of available-for-sale debt securities applied prospectively after adoption. We are evaluating the impact and approach to adopting this new accounting guidance on our financial statements.

In 2017, the FASB issued new guidance that requires certain premiums on callable debt securities to be amortized to the earliest call date. The amortization period for callable debt securities purchased at a discount will not be impacted.  Therefore, the new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. Transition is on a modified retrospective basis with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We are evaluating the impact this new accounting guidance will have on our financial statements.

In 2018, the FASB issued new guidance in response to tax reform that allows the option to reclassify stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017 (the "Tax Act") from accumulated other comprehensive income to retained earnings. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. If such an option is elected, transition can be applied either retrospectively to each period in which the effect of tax reform is recognized or applied with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We are evaluating the impact this new accounting guidance will have on our financial statements.

Recently Adopted Accounting Guidance

In 2014, the FASB issued new accounting guidance related to revenue recognition, which was further updated in 2016 for reporting revenue gross versus net. This new guidance replaced all existing GAAP guidance on this topic and eliminated all industry-specific guidance. The new revenue recognition guidance provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. We adopted the guidance effective January 1, 2018 on a full retrospective basis. We performed an impact analysis for the opening balance sheet as of January 1, 2016 as well as for the years ended December 31, 2016 and 2017. The impacts were deemed de minimis. No practical expedients or exemptions were elected in conjunction with the adoption of this new guidance. For additional information, see "Note 2—Revenue."

In 2016, the FASB issued new accounting guidance related to the classification and measurement of financial instruments. This new guidance amends GAAP by requiring equity investments to be measured at fair value with changes in fair value recognized in net income. This new guidance also amends the presentation of certain fair value changes for financial liabilities measured at fair value and it amends certain disclosure requirements associated with the fair value of financial instruments. Additionally, in 2018, the FASB issued technical corrections and improvements to this guidance effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years beginning after June 15, 2018. We are required to apply the new guidance on a modified retrospective basis to all outstanding instruments, with a cumulative effect adjustment as of the date of adoption and on a prospective basis to all outstanding equity investments without a readily determinable fair value. We adopted the guidance, including early adoption of the technical corrections and improvements, effective January 1, 2018. Beginning in the first quarter of 2018, we applied the measurement alternative to all our equity investments, which required us to measure these equity investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment in the same issuer. The adoption of this guidance did not have a material impact on our financial statements.

In 2016, the FASB issued new guidance on classifying certain cash receipts and cash payments on the statement of cash flows. The new guidance addresses the classification of cash flows related to: debt prepayment or extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance, including bank-owned life insurance, distributions received from equity method investees and beneficial interests in securitization transactions. The guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The guidance should be applied retrospectively after adoption. We adopted the guidance effective January 1, 2018. The adoption of this guidance did not have a material impact on our financial statements.

In 2016, the FASB issued new guidance on restricted cash on the statement of cash flows. The new guidance requires the classification and presentation of changes in restricted cash and cash equivalents in the statement of cash flows. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning and ending balances shown on the statement of cash flows. The guidance should be applied retrospectively after adoption. We adopted the guidance effective January 1, 2018 on a retrospective basis. The beginning and ending balances of cash and cash equivalents on the statement of cash flows now include restricted cash and restricted cash equivalents, such as cash and cash equivalents underlying customer accounts and restricted cash and restricted cash equivalents within short-term investments.

In 2017, the FASB issued new guidance clarifying the scope and application of the de-recognition of non-financial assets and the sale or transfer of non-financial assets, including partial sales. We adopted the guidance effective January 1, 2018 on a full retrospective basis. The adoption of this guidance did not have a material impact on our financial statements.

In 2017, the FASB issued new guidance clarifying which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Specifically, an entity would apply modification accounting only if the fair value, vesting conditions, or classification of the awards changes as a result of changes in the terms or conditions. We adopted the guidance effective January 1, 2018 and applied it prospectively upon adoption. The adoption of this guidance did not have a material impact on our financial statements.

In 2017, the FASB issued new guidance intended to better align the results of hedge accounting with an entity’s risk management activities. This guidance updates the designation and measurement guidance for qualifying hedging relationships by expanding hedge accounting for both nonfinancial and financial risk components and by refining the measurement of hedge results to better reflect an entity’s hedging strategies. The amendments will also align the recognition and presentation of the effects of the hedge results in the financial statements to increase the understandability of the results of an entity’s intended hedging strategies. Additionally, the guidance includes certain targeted improvements to ease the operational burden of applying hedge accounting. We are required to apply the guidance with a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year in which the guidance is adopted and prospectively apply the presentation and disclosure guidance. We early adopted the guidance in the first quarter of 2018 using a modified retrospective approach to reflect application of the new guidance effective January 1, 2018. Adoption of the guidance did not have a material impact on our financial statements.

In 2018, the FASB issued new guidance to provide clarity around application of income tax accounting in situations where the assessment of tax implications of the Tax Act might not be complete as of period end in which the Tax Act was enacted. This guidance prescribes that an entity must reflect the income tax impact of the Tax Act in the period in which the tax accounting is complete and allows an entity to report provisional amounts for those specific effects of the Act for which the accounting is incomplete but a reasonable estimate can be determined. No provisional amounts should be reported for specific effects of the Tax Act for which a reasonable estimate cannot be determined, and the entity should continue to apply the provisions of the tax laws that were in effect prior to the enactment of the Tax Act. It further allows a measurement period of one year from the date of enactment within which to complete the accounting for all impacts of the Tax Act. Our financial statements reflect tax accounting in compliance with this guidance.
XML 38 R27.htm IDEA: XBRL DOCUMENT v3.8.0.1
Revenue (Tables)
3 Months Ended
Mar. 31, 2018
Revenue from Contract with Customer [Abstract]  
Disaggregation of revenue
The following table presents our revenues disaggregated by primary geographical markets:
 
Three Months Ended March 31,
 
2018
  
2017
 
(In millions)
Primary geographical markets
 
 
 
United States ("U.S.")
$
2,023

 
$
1,606

United Kingdom ("U.K.")
392

 
313

Other countries(1)
1,270

 
1,056

Total revenues(2)
$
3,685

 
$
2,975

 
 
 
 
Types of revenues
 
 
 
Transaction revenues
$
3,197

 
$
2,624

Other value added services
488

 
351

Total revenues(2)
$
3,685

 
$
2,975

(1) No single country included in the other countries category generated more than 10% of total revenue.
(2) Total revenues include interest, fees and gains earned on loan and interest receivables, net and held for sale portfolio, as well as hedging gains or losses and interest earned on certain PayPal customer balances of $359 million and $307 million for the three months ended March 31, 2018 and 2017, respectively, which do not represent revenues recognized in the scope of ASC Topic 606, Revenue from contracts with customers.

XML 39 R28.htm IDEA: XBRL DOCUMENT v3.8.0.1
Net Income Per Share (Tables)
3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Schedule of earnings per share, basic and diluted
The following table sets forth the computation of basic and diluted net income per share for the periods indicated:
 
Three Months Ended March 31,
 
2018
  
2017
 
(In millions, except per share amounts)
Numerator:
 
 
 
Net income
$
511

 
$
384

Denominator:
 
 
 
Weighted average shares of common stock - basic
1,192

 
1,203

Dilutive effect of equity incentive awards
25

 
13

Weighted average shares of common stock - diluted
1,217

 
1,216

Net income per share:
 
 
 
Basic
$
0.43

 
$
0.32

Diluted
$
0.42

 
$
0.32

Common stock equivalents excluded from income per diluted share because their effect would have been anti-dilutive

 
6



XML 40 R29.htm IDEA: XBRL DOCUMENT v3.8.0.1
Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill balances and adjustments
The following table presents goodwill balances and adjustments to those balances during the three months ended March 31, 2018:
 
December 31,
2017
 
Goodwill
Acquired
 
Adjustments
 
March 31,
2018
 
 (In millions)
Total goodwill
$
4,339

 
$

 
$
(1
)
 
$
4,338

Components of identifiable intangible assets
The components of identifiable intangible assets are as follows:
 
March 31, 2018
 
December 31, 2017
 
Gross Carrying Amount  
 
Accumulated Amortization 
 
Net Carrying Amount
 
Weighted Average Useful Life (Years)
 
Gross Carrying Amount 
 
Accumulated Amortization 
 
Net Carrying Amount
 
Weighted Average Useful Life (Years)
 
(In millions, except years)
Intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Customer lists and user base
$
613

 
$
(574
)
 
$
39

 
3
 
$
613

 
$
(563
)
 
$
50

 
3
Marketing related
198

 
(197
)
 
1

 
1
 
198

 
(196
)
 
2

 
1
Developed technologies
274

 
(227
)
 
47

 
3
 
274

 
(215
)
 
59

 
3
All other
245

 
(194
)
 
51

 
5
 
245

 
(188
)
 
57

 
5
Intangible assets, net
$
1,330

 
$
(1,192
)
 
$
138

 
 
 
$
1,330

 
$
(1,162
)
 
$
168

 
 
Expected future intangible asset amortization
Expected future intangible asset amortization as of March 31, 2018 was as follows (in millions):
Fiscal years:
 
Remaining 2018
$
69

2019
42

2020
27

 
$
138

XML 41 R30.htm IDEA: XBRL DOCUMENT v3.8.0.1
Geographical Information (Tables)
3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Schedule of net revenues and long-lived assets, by geographical areas
The following table summarizes long-lived assets based on geography:

 
March 31,
2018
  
December 31,
2017
 
(In millions)
Long-lived assets:
 
 
 
U.S.
$
1,422

 
$
1,432

Other countries
101

 
96

Total long-lived assets
$
1,523

 
$
1,528

XML 42 R31.htm IDEA: XBRL DOCUMENT v3.8.0.1
Funds Receivable and Customer Accounts (Tables)
3 Months Ended
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Schedule of assets underlying our funds receivable and customer accounts
The following table summarizes the assets underlying our funds receivable and customer accounts as of March 31, 2018 and December 31, 2017.
 
March 31,
2018
 
December 31,
2017
 
(In millions)
Cash and cash equivalents
$
5,832

 
$
5,387

Government and agency securities
8,036

 
6,651

Time deposits
373

 
739

Corporate debt securities
1,129

 
1,248

Funds receivable
3,792

 
4,217

Total funds receivable and customer accounts
$
19,162

 
$
18,242

Estimated fair value of our investments classified as available for sale included within funds receivable and customer accounts
As of March 31, 2018 and December 31, 2017, the estimated fair value of our investments classified as available-for-sale included within funds receivable and customer accounts was as follows:
 
March 31, 2018
 
Gross
Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(In millions)
Government and agency securities
$
6,962

 
$

 
$
(6
)
 
$
6,956

Corporate debt securities
392

 

 
(1
)
 
391

Total
$
7,354

 
$

 
$
(7
)
 
$
7,347


 
December 31, 2017
 
Gross
Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(In millions)
Government and agency securities
$
5,946

 
$

 
$
(5
)
 
$
5,941

Corporate debt securities
529

 

 

 
529

Total
$
6,475

 
$

 
$
(5
)
 
$
6,470

The estimated fair values of our investments classified as available for sale included within funds receivable and customer accounts by date of contractual maturity
The estimated fair values of our investments classified as available-for-sale included within funds receivable and customer accounts by date of contractual maturity at March 31, 2018 were as follows:
 
March 31,
2018
 
(In millions)
One year or less
$
7,292

One year through two years
26

Two years through three years
29

Total
$
7,347

The estimated fair values of our short-term and long-term investments classified as available-for-sale by date of contractual maturity at March 31, 2018 were as follows:
 
March 31, 2018
 
(In millions)
One year or less
$
2,830

One year through two years
823

Two years through three years
344

Three years through four years
171

Four years through five years
49

Greater than five years
10

Total
$
4,227

XML 43 R32.htm IDEA: XBRL DOCUMENT v3.8.0.1
Investments (Tables)
3 Months Ended
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Estimated fair value of short and long-term investments classified as available for sale
As of March 31, 2018 and December 31, 2017, the estimated fair value of our short-term and long-term investments classified as available-for-sale was as follows:
 
March 31, 2018
 
Gross
Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(In millions)
Short-term investments(1)(2):
 
  
 
  
 
 
 
Corporate debt securities
$
2,340

 
$

 
$
(4
)
 
$
2,336

Government and agency securities
495

 

 
(1
)
 
494

Long-term investments(1):
 
 
 
 
 
 


Corporate debt securities
1,324

 
1

 
(16
)
 
1,309

Government and agency securities
88

 

 

 
88

Total(1)(2)
$
4,247

 
$
1

 
$
(21
)
 
$
4,227

(1) Excludes short-term restricted cash of $81 million that we intend to use to support our global sabbatical program and a counterparty guarantee, and long-term restricted cash of $2 million.
(2) Excludes time deposits of $199 million, which are not considered available-for-sale securities.

 
December 31, 2017
 
Gross
Amortized
Cost
  
Gross
Unrealized
Gains
  
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(In millions)
Short-term investments(1)(2):
 
  
 
  
 
 
 
Corporate debt securities
$
2,092

 
$
1

 
$
(1
)
 
$
2,092

Government and agency securities
210

 

 

 
210

Long-term investments(1):
 
 
 
 
 
 
 
Corporate debt securities
1,769

 
2

 
(7
)
 
1,764

Government and agency securities
98

 

 

 
98

Total(1)(2)
$
4,169

 
$
3

 
$
(8
)
 
$
4,164

(1) Excludes short-term restricted cash of $79 million that we intend to use to support our global sabbatical program and a counterparty guarantee, and long-term restricted cash of $2 million.
(2) Excludes time deposits of $163 million, which are not considered available-for-sale securities.
Estimated fair values of investments classified as available for sale by date of contractual maturity
The estimated fair values of our investments classified as available-for-sale included within funds receivable and customer accounts by date of contractual maturity at March 31, 2018 were as follows:
 
March 31,
2018
 
(In millions)
One year or less
$
7,292

One year through two years
26

Two years through three years
29

Total
$
7,347

The estimated fair values of our short-term and long-term investments classified as available-for-sale by date of contractual maturity at March 31, 2018 were as follows:
 
March 31, 2018
 
(In millions)
One year or less
$
2,830

One year through two years
823

Two years through three years
344

Three years through four years
171

Four years through five years
49

Greater than five years
10

Total
$
4,227

XML 44 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
Fair Value Measurement of Assets and Liabilities (Tables)
3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Summary of financial assets and liabilities measured at fair value on a recurring basis
The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017:

 
March 31, 2018
 
 
Significant Other
Observable Inputs
(Level 2)
 
 
(In millions)
Assets:
 
 
 
 
 
Cash and cash equivalents(1)
 
$
1,104

 
 
$
1,104

Short-term investments(2):
 
 
 
 
 
Corporate debt securities
 
2,419

 
 
2,419

Government and agency securities
 
728

 
 
728

Total short-term investments
 
$
3,147

 
 
$
3,147

Funds receivable and customer accounts(3)
 
9,424

 
 
9,424

Derivatives
 
56

 
 
56

Long-term investments(2):
 
 
 
 
 
Corporate debt securities
 
1,309

 
 
1,309

Government and agency securities
 
88

 
 
88

Total long-term investments
 
1,397

 
 
1,397

Total financial assets
 
$
15,128

 
 
$
15,128

Liabilities:
 
 
 
 
 
Derivatives
 
$
197

 
 
$
197

(1) Excludes cash of $1.8 billion not subject to fair value measurement on a recurring basis.
(2) Excludes restricted cash of $83 million, time deposits of $199 million, and equity investments of $88 million not subject to fair value measurement on a recurring basis.
(3) Excludes cash, time deposits and funds receivable of $9.7 billion underlying funds receivable and customer accounts not subject to fair value measurement on a recurring basis.

 
December 31, 2017
 
 
Significant Other
Observable Inputs
(Level 2)
 
 
(In millions)
Assets:
 
 
 
 
 
Cash and cash equivalents(1)
 
$
791

 
 
$
791

Short-term investments(2):
 
 
 
 
 
Corporate debt securities
 
2,219

 
 
2,219

Government and agency securities
 
351

 
 
351

Total short-term investments
 
2,570

 
 
2,570

Funds receivable and customer accounts(3)
 
8,007

 
 
8,007

Derivatives
 
66

 
 
66

Long-term investments(2):
 
 
 
 
 
Corporate debt securities
 
1,773

 
 
1,773

Government and agency securities
 
98

 
 
98

Total long-term investments
 
1,871

 
 
1,871

Total financial assets
 
$
13,305

 
 
$
13,305

Liabilities:
 
 
 
 
 
Derivatives
 
$
218

 
 
$
218

(1) Excludes cash of $2.1 billion not subject to fair value measurement on a recurring basis.
(2) Excludes restricted cash of $81 million, time deposits of $163 million, and equity investments of $88 million not subject to fair value measurement on a recurring basis.
(3) Excludes cash, time deposits and funds receivable of $10.2 billion underlying funds receivable and customer accounts not subject to fair value measurement on a recurring basis.
XML 45 R34.htm IDEA: XBRL DOCUMENT v3.8.0.1
Derivative Instruments (Tables)
3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair value of outstanding derivative instruments
The fair value of our outstanding derivative instruments as of March 31, 2018 and December 31, 2017 was as follows:
 
Balance Sheet Location
 
March 31,
2018
 
December 31,
2017
 
 
 
(In millions)
Derivative Assets:
 
 
 
 
 
Foreign exchange contracts designated as cash flow hedges
Other current assets
 
$
5

 
$

Foreign exchange contracts not designated as hedging instruments
Other current assets
 
51

 
66

Total derivative assets
 
 
$
56

 
$
66

 
 
 
 
 
 
Derivative Liabilities:
 
 
 
 
 
Foreign exchange contracts designated as cash flow hedges
Other current liabilities
 
$
122

 
$
94

Foreign exchange contracts not designated as hedging instruments
Other current liabilities
 
75

 
124

Total derivative liabilities
 
 
$
197

 
$
218

 
 
 
 
 
 
Net fair value of derivative instruments
 
 
$
(141
)
 
$
(152
)
Schedule of cash flow hedges included in accumulated other comprehensive income
The following table summarizes the activity of derivative contracts that qualify for hedge accounting as of March 31, 2018 and December 31, 2017, and the impact of designated derivative instruments on accumulated other comprehensive income (loss) for the three months ended March 31, 2018 and 2017:
 
December 31, 2017
 
Amount of gains (losses)
recognized in other
comprehensive income
 
Less: Amount of gains (losses)
reclassified from
accumulated other
comprehensive income
to net revenue
 
March 31, 2018
 
(In millions)
Foreign exchange contracts designated as cash flow hedges
$
(111
)
 
$
(62
)
 
$
(44
)
 
$
(129
)


 
December 31, 2016
 
Amount of gains (losses)
recognized in other
comprehensive income
 
Less: Amount of gains (losses)
reclassified from
accumulated other
comprehensive income
to net revenue
 
March 31, 2017
 
(In millions)
Foreign exchange contracts designated as cash flow hedges
$
131

 
$
(32
)
 
$
40

 
$
59

Recognized gains or losses related to derivative instruments
The following table provides the location in the condensed consolidated statements of income and amount of the recognized gains or losses related to our derivative instruments designated as hedging instruments:
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions)
 
Revenue
 
Revenue
Total amounts presented in the condensed consolidated statement of income in which the effects of cash flow hedges are recorded
$
3,685

 
$
2,975

Gains (losses) on foreign exchange contracts designated as cash flow hedges reclassified from accumulated other comprehensive income into net income
$
(44
)
 
$
40


The following table provides the location in the condensed consolidated statements of income and amount of the recognized gains or losses related to our derivative instruments not designated as hedging instruments:
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions)
Gains (losses) on foreign exchange contracts recognized in other income (expense), net
$
(44
)
 
$
(40
)
Gains (losses) on foreign exchange contracts recognized in net revenues
(6
)
 
$

Total gains (losses) recognized from foreign exchange contracts not designated as hedging instruments
$
(50
)
 
$
(40
)
Schedule of notional amounts of outstanding derivatives
The following table provides the notional amounts of our outstanding derivatives:
 
March 31, 2018
 
December 31, 2017
 
(In millions)
Foreign exchange contracts designated as cash flow hedges
$
3,309

 
$
2,639

Foreign exchange contracts not designated as hedging instruments
6,515

 
5,669

Total
$
9,824

 
$
8,308

XML 46 R35.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans and Interest Receivable (Tables)
3 Months Ended
Mar. 31, 2018
Receivables [Abstract]  
Principal amount of loans and interest receivable segmented by a FICO score range
The following table presents the principal amount of U.S. consumer loans and interest receivable segmented by a FICO score range:
 
March 31, 2018
  
December 31, 2017
 
(In millions)
> 760
$
812

 
$
832

680 - 759
2,474

 
2,439

600 - 679
2,432

 
2,378

< 599
804

 
752

Total
$
6,522

 
$
6,401

Delinquency status of the principal amount of loans and interest receivable
The following tables present our estimate of the principal amount of merchant loans, advances, interest and fees receivable past their original expected or contractual repayment period.
March 31, 2018
(In millions)
Within Original Expected Repayment Period
 
30 - 59 Days Greater
 
60 - 89 Days Greater
 
90 - 180 Days Greater
 
180+ Days
 
Total Past Original Expected Repayment Period
 
Total
$
1,105

 
$
44

 
$
28

 
$
40

 
$
10

 
$
122

 
$
1,227

December 31, 2017
(In millions)
Within Original Expected Repayment Period
 
30 - 59 Days Greater
 
60 - 89 Days Greater
 
90 - 180 Days Greater
 
180+ Days
 
Total Past Original Expected Repayment Period
 
Total
$
884

 
$
44

 
$
28

 
$
43

 
$
13

 
$
128

 
$
1,012


The following table presents the delinquency status of U.S. consumer loans and interest receivable, held for sale. The amounts shown below are based on the number of days past the billing date to the consumer. Current represents balances that are within 30 days of the billing date. As of March 31, 2018 and December 31, 2017, approximately 91.9% and 90.6%, respectively, of the portfolio of U.S. consumer loans and interest receivable, held for sale was current.

March 31, 2018(1)
(In millions)
Current
 
30 - 59 Days
 
60 - 89 Days
 
90 - 180 Days
 
Total Past 30 days
 
Total
$
5,994

 
$
208

 
$
88

 
$
232

 
$
528

 
$
6,522

(1) Includes approximately $31 million of U.S. consumer loans and interest receivables not designated as held for sale that are fully reserved and are expected to be charged off, and excludes approximately $46 million related to accrued unbilled interest.
December 31, 2017(1)
(In millions)
Current
 
30 - 59 Days
 
60 - 89 Days
 
90 - 180 Days
 
Total Past 30 days
 
Total
$
5,800

 
$
240

 
$
103

 
$
258

 
$
601

 
$
6,401

(1) Includes approximately $50 million of U.S. consumer loans and interest receivables not designated as held for sale that are fully reserved and are expected to be charged off, and excludes approximately $47 million related to accrued unbilled interest.
The following tables present the delinquency status of the principal amount of international consumer loans and interest receivable. The amounts shown below are based on the number of days past the billing date to the consumer. Current represents balances that are within 30 days of the billing date. Amounts as of March 31, 2018 and December 31, 2017 represent loans and interest receivable due from consumer accounts excluding amounts classified as held for sale, of which approximately 95.3% and 96.0%, respectively, were current.
March 31, 2018
(In millions)
Current
 
30 - 59 Days Past Due
 
60 - 89 Days Past Due
 
90 - 180 Days Past Due
 
Total Past Due
 
Total
$
384

 
$
10

 
$
3

 
$
6

 
$
19

 
$
403


December 31, 2017
(In millions)
Current
 
30 - 59 Days Past Due
 
60 - 89 Days Past Due
 
90 - 180 Days Past Due
 
Total Past Due
 
Total
$
313

 
$
7

 
$
2

 
$
4

 
$
13

 
$
326

Allowance for loans and interest receivable
The following table summarizes the activity in the allowance for consumer loans and interest receivable for the three months ended March 31, 2018 and 2017:
 
March 31, 2018
 
March 31, 2017(1)
 
Consumer Loans Receivable
Interest Receivable
Total Allowance(2)
  
Consumer Loans Receivable
Interest Receivable
Total Allowance
 
(In millions)
Beginning balance
$
57

$
6

$
63

 
$
265

$
40

$
305

Provisions
23

3

26

 
120

29

149

Charge-offs
(39
)
(3
)
(42
)
 
(104
)
(32
)
(136
)
Recoveries



 
10


10

Ending balance
$
41

$
6

$
47

 
$
291

$
37

$
328

(1) Includes allowance related to loans and interest receivable, held for sale portfolio prior to its designation as held for sale.
(2) Beginning and ending balances include approximately $50 million and $31 million, respectively, of U.S. consumer receivables not designated as held for sale that are fully reserved and are expected to be charged off.
The following table summarizes the activity in the allowance for merchant loans and advances, interest and fees receivable, for the three months ended March 31, 2018 and 2017:
 
March 31, 2018
 
March 31, 2017
 
Merchant Loans and Advances
Interest and Fees Receivable
Total Allowance
  
Merchant Loans and Advances
Interest and Fees Receivable
Total Allowance
 
(In millions)
Beginning balance
$
52

$
7

$
59

 
$
28

$
3

$
31

Provisions
39

6

45

 
9

2

11

Charge-offs
(21
)
(2
)
(23
)
 
(10
)
(2
)
(12
)
Recoveries
2


2

 
2


2

Ending balance
$
72

$
11

$
83

 
$
29

$
3

$
32

XML 47 R36.htm IDEA: XBRL DOCUMENT v3.8.0.1
Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Management's estimate of the maximum potential exposure related to protection programs
The following table provides management's estimate of the maximum potential exposure related to our protection programs as of March 31, 2018 and December 31, 2017:
 
March 31, 2018
  
December 31, 2017
 
(In millions)
Maximum potential exposure
$
173,764

 
$
165,207



The following table provides the amount of allowance for transaction losses and negative customer balances related to our protection programs as of March 31, 2018 and December 31, 2017:
 
March 31, 2018
  
December 31, 2017
 
(In millions)
Allowance for transaction losses and negative customer balances
$
283

 
$
266

XML 48 R37.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock Repurchase Programs (Tables)
3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Summary of stock repurchase activity
The stock repurchase activity under the April 2017 stock repurchase program during the three months ended March 31, 2018 is summarized as follows:
 
Shares Repurchased
 
Average Price
Paid per Share
(1) (2)
 
Cash Paid for Shares Repurchased
 
Remaining Amount Authorized
 
(In millions, except per share amounts)
Balance as of January 1, 2018
 
 
 
 
 
 
$
4,999

Repurchases of shares of common stock in the open market
10.8

 
$
76.82

 
825

 
4,174

Repurchases of shares of common stock under the ASR agreement
12.8

 
$
78.03

 
1,000

 
3,174

Balance as of March 31, 2018
23.6

 
 
 
$
1,825

 
$
3,174

(1)Average price paid per share for open market purchases includes broker commissions.
(2) Average price paid per share under the ASR agreement represents the volume-weighted average share price, less a discount and adjustments pursuant to the terms of the agreement. Treasury stock recorded for repurchases under the ASR agreement amounts to $985 million.
XML 49 R38.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Plans (Tables)
3 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of restricted stock units and performance-based restricted stock units
The following table summarizes the RSU and PBRSU activity under our equity incentive plans for the three months ended March 31, 2018:
 
Units 
 
(In thousands)
Outstanding at January 1, 2018
33,875

Awarded(1)
12,103

Vested(1)
(9,663
)
Forfeited
(484
)
Outstanding at March 31, 2018
35,831

Expected to vest
30,871


(1) Includes approximately 2.1 million additional PBRSUs issued due to company performance in connection with the Company's 2017 annual incentive plan.

Schedule of stock-based compensation expense
The impact on our results of operations of recording stock-based compensation expense under our equity incentive plans for the three months ended March 31, 2018 and 2017 was as follows:
 
Three Months Ended March 31,
 
2018
 
2017
 
(In millions)
Customer support and operations
$
38

 
$
30

Sales and marketing
44

 
28

Product development
64

 
45

General and administrative
59

 
42

Depreciation and amortization
4

 
2

Total stock-based compensation expense
$
209

 
$
147

Capitalized as part of internal use software and website development costs
$
7

 
$
3

XML 50 R39.htm IDEA: XBRL DOCUMENT v3.8.0.1
Restructuring (Tables)
3 Months Ended
Mar. 31, 2018
Restructuring and Related Activities [Abstract]  
Schedule of restructuring reserve activity by type of cost
The following table summarizes the restructuring reserve activity during the three months ended March 31, 2018:
 
Employee Severance and Benefits
 
(In millions)
Accrued liability as of January 1, 2018
$
2

Charges
25

Payments
(2
)
Accrued liability as of March 31, 2018
$
25

XML 51 R40.htm IDEA: XBRL DOCUMENT v3.8.0.1
Accumulated Other Comprehensive Income (Loss) (Tables)
3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Schedule of accumulated other comprehensive income (loss)
The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the three months ended March 31, 2018:
 
Unrealized Gains (Losses) on Cash Flow Hedges
 
Unrealized Gains (Losses) on Investments
 
Foreign
Currency
Translation
 
Estimated tax benefit
 
Total
 
(In millions)
Beginning balance
$
(111
)
 
$
(12
)
 
$
(25
)
 
$
6

 
$
(142
)
Other comprehensive income (loss) before reclassifications
(62
)
 
(16
)
 
2

 
4

 
(72
)
Less: Amount of gains (losses) reclassified from accumulated other comprehensive income
(44
)
 
(1
)
 

 

 
(45
)
Net current period other comprehensive income (loss)
(18
)
 
(15
)
 
2

 
4

 
(27
)
Ending balance
$
(129
)
 
$
(27
)
 
$
(23
)
 
$
10

 
$
(169
)

The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the three months ended March 31, 2017:
 
Unrealized Gains (Losses) on Cash Flow Hedges
 
Unrealized Gains (Losses) on Investments
 
Foreign
Currency
Translation
 
Estimated tax benefit
 
Total
 
(In millions)
Beginning balance
$
131

 
$
(5
)
 
$
(68
)
 
$
1

 
$
59

Other comprehensive income (loss) before reclassifications
(32
)
 

 
13

 
1

 
(18
)
Less: Amount of gains (losses) reclassified from accumulated other comprehensive income
40

 
(1
)
 

 

 
39

Net current period other comprehensive income (loss)
(72
)
 
1

 
13

 
1

 
(57
)
Ending balance
$
59

 
$
(4
)
 
$
(55
)
 
$
2

 
$
2

Reclassifications out of accumulated other comprehensive income (loss)
The following table provides details about reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2018 and 2017:
Details about Accumulated Other Comprehensive
Income (Loss) Components
 
Amount of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss)
 
Affected Line Item in the Statement of Income
 
 
Three Months Ended March 31,
 
 
 
 
2018
 
2017
 
 
 
 
(In millions)
 
 
Gains (losses) on cash flow hedges-foreign exchange contracts
 
$
(44
)
 
$
40

 
Net revenues
Unrealized gains (losses) on investments
 
(1
)
 
(1
)
 
Other income (expense), net
 
 
$
(45
)
 
$
39

 
Income before income taxes
 
 

 

 
Income tax expense
Total reclassifications for the period
 
$
(45
)
 
$
39

 
Net income


XML 52 R41.htm IDEA: XBRL DOCUMENT v3.8.0.1
Revenue - Additional Information (Details)
3 Months Ended
Mar. 31, 2018
obligation
segment
Disaggregation of Revenue [Line Items]  
Number of operating segments | segment 1
Number of reportable segments | segment 1
Transactions  
Disaggregation of Revenue [Line Items]  
Number of performance obligations | obligation 1
Other value added services  
Disaggregation of Revenue [Line Items]  
Number of performance obligations | obligation 1
XML 53 R42.htm IDEA: XBRL DOCUMENT v3.8.0.1
Revenue - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Disaggregation of Revenue [Line Items]    
Revenues $ 3,685 $ 2,975
Transaction revenues    
Disaggregation of Revenue [Line Items]    
Revenues 3,197 2,624
Other value added services    
Disaggregation of Revenue [Line Items]    
Revenues 488 351
Interest, fees and gains earned on loan and interest receivables, net and held for sale portfolio, hedging gains and interest earned on customer balances    
Disaggregation of Revenue [Line Items]    
Revenues 359 307
United States (U.S.)    
Disaggregation of Revenue [Line Items]    
Revenues 2,023 1,606
United Kingdom (U.K.)    
Disaggregation of Revenue [Line Items]    
Revenues 392 313
Other Countries    
Disaggregation of Revenue [Line Items]    
Revenues $ 1,270 $ 1,056
XML 54 R43.htm IDEA: XBRL DOCUMENT v3.8.0.1
Net Income Per Share - Computation of Basic and Diluted Earnings per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Numerator:    
Net income $ 511 $ 384
Denominator:    
Weighted average shares of common stock - basic (in shares) 1,192 1,203
Dilutive effect of equity incentive awards (in shares) 25 13
Weighted average shares of common stock - diluted (in shares) 1,217 1,216
Net income per share:    
Basic (in usd per share) $ 0.43 $ 0.32
Diluted (in usd per share) $ 0.42 $ 0.32
Common stock equivalents excluded from income per diluted share because their effect would have been anti-dilutive (in shares) 0 6
XML 55 R44.htm IDEA: XBRL DOCUMENT v3.8.0.1
Goodwill and Intangible Assets - Goodwill Balances and Adjustments (Details)
$ in Millions
3 Months Ended
Mar. 31, 2018
USD ($)
Total goodwill  
December 31, 2017 $ 4,339
Goodwill Acquired 0
Adjustments (1)
March 31, 2018 $ 4,338
XML 56 R45.htm IDEA: XBRL DOCUMENT v3.8.0.1
Goodwill and Intangible Assets - Components of Identifiable Intangible Assets (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2018
Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 1,330 $ 1,330
Accumulated Amortization (1,192) (1,162)
Net Carrying Amount 138 168
Customer lists and user base    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 613 613
Accumulated Amortization (574) (563)
Net Carrying Amount $ 39 $ 50
Intangible assets acquired, useful life 3 years 3 years
Marketing related    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 198 $ 198
Accumulated Amortization (197) (196)
Net Carrying Amount $ 1 $ 2
Intangible assets acquired, useful life 1 year 1 year
Developed technologies    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 274 $ 274
Accumulated Amortization (227) (215)
Net Carrying Amount $ 47 $ 59
Intangible assets acquired, useful life 3 years 3 years
All other    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 245 $ 245
Accumulated Amortization (194) (188)
Net Carrying Amount $ 51 $ 57
Intangible assets acquired, useful life 5 years 5 years
XML 57 R46.htm IDEA: XBRL DOCUMENT v3.8.0.1
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]    
Amortization expense for intangible assets $ 30 $ 27
XML 58 R47.htm IDEA: XBRL DOCUMENT v3.8.0.1
Goodwill and Intangible Assets - Expected Future Intangible Asset Amortization (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Fiscal years:    
Remaining 2018 $ 69  
2019 42  
2020 27  
Net Carrying Amount $ 138 $ 168
XML 59 R48.htm IDEA: XBRL DOCUMENT v3.8.0.1
Geographical Information (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 1,523 $ 1,528
U.S.    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 1,422 1,432
Other countries    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 101 $ 96
XML 60 R49.htm IDEA: XBRL DOCUMENT v3.8.0.1
Funds Receivable and Customer Accounts - Assets Underlying Funds Receivable and Customer Accounts (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Investment [Line Items]    
Total funds receivable and customer accounts $ 19,162 $ 18,242
Cash and cash equivalents    
Investment [Line Items]    
Total funds receivable and customer accounts 5,832 5,387
Government and agency securities    
Investment [Line Items]    
Total funds receivable and customer accounts 8,036 6,651
Time deposits    
Investment [Line Items]    
Total funds receivable and customer accounts 373 739
Corporate debt securities    
Investment [Line Items]    
Total funds receivable and customer accounts 1,129 1,248
Funds receivable    
Investment [Line Items]    
Total funds receivable and customer accounts $ 3,792 $ 4,217
XML 61 R50.htm IDEA: XBRL DOCUMENT v3.8.0.1
Funds Receivable and Customer Accounts - Estimated Fair Value of Investments Classified as Available for Sale (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]    
Gross Amortized Cost $ 4,247 $ 4,169
Gross Unrealized Gains 1 3
Gross Unrealized Losses (21) (8)
Estimated Fair Value 4,227 4,164
Corporate debt securities    
Schedule of Available-for-sale Securities [Line Items]    
Gross Unrealized Losses (3,400) (2,800)
Funds Receivable and Customer Accounts    
Schedule of Available-for-sale Securities [Line Items]    
Gross Amortized Cost 7,354 6,475
Gross Unrealized Gains 0 0
Gross Unrealized Losses (7) (5)
Estimated Fair Value 7,347 6,470
Funds Receivable and Customer Accounts | Government and agency securities    
Schedule of Available-for-sale Securities [Line Items]    
Gross Amortized Cost 6,962 5,946
Gross Unrealized Gains 0 0
Gross Unrealized Losses (6) (5)
Estimated Fair Value 6,956 5,941
Funds Receivable and Customer Accounts | Corporate debt securities    
Schedule of Available-for-sale Securities [Line Items]    
Gross Amortized Cost 392 529
Gross Unrealized Gains 0 0
Gross Unrealized Losses (1) 0
Estimated Fair Value $ 391 $ 529
XML 62 R51.htm IDEA: XBRL DOCUMENT v3.8.0.1
Funds Receivable and Customer Accounts - Additional Information (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Fair Value, Option, Quantitative Disclosures [Line Items]      
Total funds receivable and customer accounts $ 19,162   $ 18,242
Funds Receivable and Customer Accounts      
Fair Value, Option, Quantitative Disclosures [Line Items]      
Aggregate fair value of investments in an unrealized loss position 6,400   6,000
Fair Value Option, Foreign Currency Denominated Investments      
Fair Value, Option, Quantitative Disclosures [Line Items]      
Total funds receivable and customer accounts 1,800   $ 1,400
Fair Value Option, Foreign Currency Denominated Investments | Funds Receivable and Customer Accounts      
Fair Value, Option, Quantitative Disclosures [Line Items]      
Net gains from fair value changes $ 40 $ 15  
XML 63 R52.htm IDEA: XBRL DOCUMENT v3.8.0.1
Funds Receivable and Customer Accounts - Estimated Fair Values of Investments Classified as Available for Sale by Contractual Maturity (Details)
$ in Millions
Mar. 31, 2018
USD ($)
Schedule of Available-for-sale Securities [Line Items]  
One year or less $ 2,830
One year through two years 823
Total 4,227
Funds Receivable and Customer Accounts  
Schedule of Available-for-sale Securities [Line Items]  
One year or less 7,292
One year through two years 26
Two years through three years 29
Total $ 7,347
XML 64 R53.htm IDEA: XBRL DOCUMENT v3.8.0.1
Investments - Estimated Fair Values of Investments Classified as Available for Sale (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]    
Gross Amortized Cost $ 4,247 $ 4,169
Gross Unrealized Gains 1 3
Gross Unrealized Losses (21) (8)
Estimated Fair Value 4,227 4,164
Short-term restricted cash 81  
Corporate debt securities    
Schedule of Available-for-sale Securities [Line Items]    
Gross Unrealized Losses (3,400) (2,800)
Short-term investments    
Schedule of Available-for-sale Securities [Line Items]    
Short-term restricted cash   79
Short-term investments | Corporate debt securities    
Schedule of Available-for-sale Securities [Line Items]    
Gross Amortized Cost 2,340 2,092
Gross Unrealized Gains 0 1
Gross Unrealized Losses (4) (1)
Estimated Fair Value 2,336 2,092
Short-term investments | Government and agency securities    
Schedule of Available-for-sale Securities [Line Items]    
Gross Amortized Cost 495 210
Gross Unrealized Gains 0 0
Gross Unrealized Losses (1) 0
Estimated Fair Value 494 210
Short-term investments | Time deposits    
Schedule of Available-for-sale Securities [Line Items]    
Gross Amortized Cost 199 163
Long-term investments    
Schedule of Available-for-sale Securities [Line Items]    
Long-term restricted cash 2 2
Long-term investments | Corporate debt securities    
Schedule of Available-for-sale Securities [Line Items]    
Gross Amortized Cost 1,324 1,769
Gross Unrealized Gains 1 2
Gross Unrealized Losses (16) (7)
Estimated Fair Value 1,309 1,764
Long-term investments | Government and agency securities    
Schedule of Available-for-sale Securities [Line Items]    
Gross Amortized Cost 88 98
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value $ 88 $ 98
XML 65 R54.htm IDEA: XBRL DOCUMENT v3.8.0.1
Investments - Additional Information (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Fair Value, Option, Quantitative Disclosures [Line Items]      
Estimated fair value $ 4,227   $ 4,164
Available-for-sale securities, accumulated gross unrealized loss 21   8
Available-for-sale securities, accumulated gross unrealized loss, greater than twelve months 206   207
Equity Investments measured at cost minus impairment     88
Corporate debt securities      
Fair Value, Option, Quantitative Disclosures [Line Items]      
Available-for-sale securities, accumulated gross unrealized loss 3,400   2,800
Fair Value Option, Foreign Currency Denominated Investments      
Fair Value, Option, Quantitative Disclosures [Line Items]      
Estimated fair value 317   $ 277
Fair Value Option, Foreign Currency Denominated Investments | Other Income (Expense)      
Fair Value, Option, Quantitative Disclosures [Line Items]      
Net gains from fair value changes $ 8 $ 6  
XML 66 R55.htm IDEA: XBRL DOCUMENT v3.8.0.1
Investments - Estimated Fair Values of Investments Classified as Available for Sale by Date of Contractual Maturity (Details)
$ in Millions
Mar. 31, 2018
USD ($)
Investments, Debt and Equity Securities [Abstract]  
One year or less $ 2,830
One year through two years 823
Two years through three years 344
Three years through four years 171
Four years through five years 49
Greater than five years 10
Total $ 4,227
XML 67 R56.htm IDEA: XBRL DOCUMENT v3.8.0.1
Fair Value Measurement of Assets and Liabilities - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Assets:    
Funds receivable and customer accounts $ 19,162 $ 18,242
Liabilities:    
Short-term restricted cash 81  
Amortized cost basis 4,247 4,169
Equity Investments measured at cost minus impairment   88
Corporate debt securities    
Assets:    
Funds receivable and customer accounts 1,129 1,248
Government and agency securities    
Assets:    
Funds receivable and customer accounts 8,036 6,651
Time deposits    
Assets:    
Funds receivable and customer accounts 373 739
Short-term investments    
Liabilities:    
Short-term restricted cash   79
Short-term investments | Corporate debt securities    
Liabilities:    
Amortized cost basis 2,340 2,092
Short-term investments | Government and agency securities    
Liabilities:    
Amortized cost basis 495 210
Short-term investments | Time deposits    
Liabilities:    
Amortized cost basis 199 163
Long-term investments | Corporate debt securities    
Liabilities:    
Amortized cost basis 1,324 1,769
Long-term investments | Government and agency securities    
Liabilities:    
Amortized cost basis 88 98
Fair value, measurements, recurring basis    
Assets:    
Cash and cash equivalents 1,104 791
Funds receivable and customer accounts 9,424 8,007
Derivatives 56 66
Total financial assets 15,128 13,305
Liabilities:    
Derivatives 197 218
Fair value, measurements, recurring basis | Significant Other Observable Inputs (Level 2)    
Assets:    
Cash and cash equivalents 1,104 791
Funds receivable and customer accounts 9,424 8,007
Derivatives 56 66
Total financial assets 15,128 13,305
Liabilities:    
Derivatives 197 218
Fair value, measurements, recurring basis | Short-term investments    
Assets:    
Investments 3,147 2,570
Fair value, measurements, recurring basis | Short-term investments | Corporate debt securities    
Assets:    
Investments 2,419 2,219
Fair value, measurements, recurring basis | Short-term investments | Government and agency securities    
Assets:    
Investments 728 351
Fair value, measurements, recurring basis | Short-term investments | Significant Other Observable Inputs (Level 2)    
Assets:    
Investments 3,147 2,570
Fair value, measurements, recurring basis | Short-term investments | Significant Other Observable Inputs (Level 2) | Corporate debt securities    
Assets:    
Investments 2,419 2,219
Fair value, measurements, recurring basis | Short-term investments | Significant Other Observable Inputs (Level 2) | Government and agency securities    
Assets:    
Investments 728 351
Fair value, measurements, recurring basis | Long-term investments    
Assets:    
Investments 1,397 1,871
Fair value, measurements, recurring basis | Long-term investments | Corporate debt securities    
Assets:    
Investments 1,309 1,773
Fair value, measurements, recurring basis | Long-term investments | Government and agency securities    
Assets:    
Investments 88 98
Fair value, measurements, recurring basis | Long-term investments | Significant Other Observable Inputs (Level 2)    
Assets:    
Investments 1,397 1,871
Fair value, measurements, recurring basis | Long-term investments | Significant Other Observable Inputs (Level 2) | Corporate debt securities    
Assets:    
Investments 1,309 1,773
Fair value, measurements, recurring basis | Long-term investments | Significant Other Observable Inputs (Level 2) | Government and agency securities    
Assets:    
Investments 88 98
Fair Value, measurements, not on a recurring basis    
Liabilities:    
Cash 1,800 2,100
Short-term restricted cash 83 81
Equity Investments measured at cost minus impairment 88 88
Fair Value, measurements, not on a recurring basis | Time deposits    
Liabilities:    
Amortized cost basis 199 163
Fair Value, measurements, not on a recurring basis | Cash and funds receivable    
Assets:    
Funds receivable and customer accounts $ 9,700 $ 10,200
XML 68 R57.htm IDEA: XBRL DOCUMENT v3.8.0.1
Fair Value Measurement of Assets and Liabilities - Additional Information (Details)
3 Months Ended
Mar. 31, 2018
Minimum  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Derivative instruments, duration 1 month
Maximum  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Derivative instruments, duration 1 year
Maximum | Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Contract  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Derivative instruments, duration 18 months
XML 69 R58.htm IDEA: XBRL DOCUMENT v3.8.0.1
Derivative Instruments - Additional Information (Details) - USD ($)
3 Months Ended
Mar. 31, 2018
Dec. 31, 2017
Offsetting Liabilities [Line Items]    
Maximum maturity of foreign currency exchange contracts 18 months  
Net derivative losses related to cash flow hedges to be reclassified into earnings within the next 12 months $ (126,000,000)  
Derivative asset, offset 52,000,000 $ 56,000,000
Derivative liability, offset 56,000,000  
Cash collateral posted related to derivative liabilities 70,000,000 38,000,000
Other current liabilities    
Offsetting Liabilities [Line Items]    
Counterpary cash collateral $ 6,000,000 $ 0
XML 70 R59.htm IDEA: XBRL DOCUMENT v3.8.0.1
Derivative Instruments - Fair Value of Outstanding Derivative Instruments (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Derivatives, Fair Value [Line Items]    
Derivative assets $ 56 $ 66
Derivative liabilities 197 218
Net fair value of derivative instruments (141) (152)
Foreign Exchange Contract | Designated as Hedging Instrument | Other current assets | Cash Flow Hedging    
Derivatives, Fair Value [Line Items]    
Derivative assets 5 0
Foreign Exchange Contract | Designated as Hedging Instrument | Other current liabilities | Cash Flow Hedging    
Derivatives, Fair Value [Line Items]    
Derivative liabilities 122 94
Foreign Exchange Contract | Not Designated as Hedging Instrument | Other current assets    
Derivatives, Fair Value [Line Items]    
Derivative assets 51 66
Foreign Exchange Contract | Not Designated as Hedging Instrument | Other current liabilities    
Derivatives, Fair Value [Line Items]    
Derivative liabilities $ 75 $ 124
XML 71 R60.htm IDEA: XBRL DOCUMENT v3.8.0.1
Derivative Instruments - Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) (Details) - Foreign Exchange Contract - Designated as Hedging Instrument - Cash Flow Hedging - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Impact of Designated Derivative Instruments on Accumulated Other Comprehensive Income    
Foreign exchange contracts designated as cash flow hedges, beginning balance $ (111) $ 131
Amount of gains (losses) recognized in other comprehensive income (62) (32)
Less: Amount of gains (losses) reclassified from accumulated other comprehensive income to net revenue (44) 40
Foreign exchange contracts designated as cash flow hedges, ending balance $ (129) $ 59
XML 72 R61.htm IDEA: XBRL DOCUMENT v3.8.0.1
Derivative Instruments - Effect of Derivative Contracts on Condensed Consolidated Statements of Income (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]    
Total amounts presented in the condensed consolidated statement of income in which the effects of cash flow hedges are recorded $ 3,685 $ 2,975
Designated as Hedging Instrument | Cash Flow Hedging    
Derivative Instruments, Gain (Loss) [Line Items]    
Total amounts presented in the condensed consolidated statement of income in which the effects of cash flow hedges are recorded 3,685 2,975
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Contract    
Derivative Instruments, Gain (Loss) [Line Items]    
Total gains (losses) recognized from foreign exchange contracts not designated as hedging instruments (44) 40
Not Designated as Hedging Instrument    
Derivative Instruments, Gain (Loss) [Line Items]    
Total gains (losses) recognized from foreign exchange contracts not designated as hedging instruments (50) (40)
Not Designated as Hedging Instrument | Foreign Exchange Contract | Other Income (Expense)    
Derivative Instruments, Gain (Loss) [Line Items]    
Total gains (losses) recognized from foreign exchange contracts not designated as hedging instruments (44) (40)
Not Designated as Hedging Instrument | Foreign Exchange Contract | Net Revenues    
Derivative Instruments, Gain (Loss) [Line Items]    
Total gains (losses) recognized from foreign exchange contracts not designated as hedging instruments $ (6) $ 0
XML 73 R62.htm IDEA: XBRL DOCUMENT v3.8.0.1
Derivative Instruments - Schedule of Notional Amounts of Outstanding Derivatives (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Derivatives, Fair Value [Line Items]    
Notional amounts $ 9,824 $ 8,308
Foreign Exchange Contract | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Notional amounts 6,515 5,669
Foreign Exchange Contract | Cash Flow Hedging | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Notional amounts $ 3,309 $ 2,639
XML 74 R63.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans and Interest Receivable - Additional Information (Details) - USD ($)
$ in Billions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Receivables [Abstract]    
Purchased consumer receivables $ 3.0 $ 2.1
XML 75 R64.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans and Interest Receivable - Loans and Interest Receivable, Held for Sale (Details)
$ in Millions
Mar. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans and interest receivable, held for sale $ 6,537 $ 6,398
Consumer Receivables    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loans and interest receivable, held for sale 6,500 6,400
Participation interest sold, value $ 1,100 $ 1,100
Weighted average FICO score 679 680
Credit score, prime (greater than) 680 680
Percentage of loans and interest receivable, FICO score below 599 12.30% 11.70%
Credit score (below) 599 599
Percentage of loans and interest receivable, current 95.30% 96.00%
Consumer Receivables | Greater than 680    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Percentage of loans and interest receivable, prime 50.40% 51.10%
Consumer Receivables | Loans And Interest Receivable, Held For Sale    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Percentage of loans and interest receivable, current 91.90% 90.60%
XML 76 R65.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans and Interest Receivable - Loans and Interest Receivables by FICO Score (Details) - Consumer Receivables - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Financing Receivable, Recorded Investment [Line Items]    
Consumer loans and interest receivable $ 6,522 $ 6,401
Greater than 760    
Financing Receivable, Recorded Investment [Line Items]    
Consumer loans and interest receivable 812 832
680 - 759    
Financing Receivable, Recorded Investment [Line Items]    
Consumer loans and interest receivable 2,474 2,439
600 - 679    
Financing Receivable, Recorded Investment [Line Items]    
Consumer loans and interest receivable 2,432 2,378
Less Than 599    
Financing Receivable, Recorded Investment [Line Items]    
Consumer loans and interest receivable $ 804 $ 752
XML 77 R66.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans and Interest Receivable - Delinquency Status of the Principal Amount of Loans and Interest Receivables (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Consumer Receivables    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loan and interest receivable, current $ 384 $ 313
Loan and interest receivable, past due 19 13
Total receivables 403 326
Consumer loans and interest receivable, accrued but unbilled interest 46 47
Consumer Receivables | U.S.    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Consumer loans and interest receivable not designated as held for sale and are expected to be charged off 31 50
Merchant Receivables    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loan and interest receivable, current 1,105 884
Loan and interest receivable, past due 122 128
Total receivables 1,227 1,012
30 - 59 Days Past Due | Consumer Receivables    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loan and interest receivable, past due 10 7
30 - 59 Days Past Due | Merchant Receivables    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loan and interest receivable, past due 44 44
60 - 89 Days Past Due | Consumer Receivables    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loan and interest receivable, past due 3 2
60 - 89 Days Past Due | Merchant Receivables    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loan and interest receivable, past due 28 28
90 - 180 Days Past Due | Consumer Receivables    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loan and interest receivable, past due 6 4
90 - 180 Days Past Due | Merchant Receivables    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loan and interest receivable, past due 40 43
More Than 180 Days | Merchant Receivables    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loan and interest receivable, past due 10 13
Loans And Interest Receivable, Held For Sale | Consumer Receivables    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loan and interest receivable, current 5,994 5,800
Loan and interest receivable, past due 528 601
Total receivables 6,522 6,401
Loans And Interest Receivable, Held For Sale | 30 - 59 Days Past Due | Consumer Receivables    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loan and interest receivable, past due 208 240
Loans And Interest Receivable, Held For Sale | 60 - 89 Days Past Due | Consumer Receivables    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loan and interest receivable, past due 88 103
Loans And Interest Receivable, Held For Sale | 90 - 180 Days Past Due | Consumer Receivables    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Loan and interest receivable, past due $ 232 $ 258
XML 78 R67.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans and Interest Receivable - Loans and Interest Receivable, Net (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Dec. 31, 2017
Mar. 31, 2017
Dec. 31, 2016
Consumer Receivables        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loan and interest receivables $ 403 $ 326    
Percentage of loans and interest receivable, current 95.30% 96.00%    
Threshold period, write-off of receivables 180 days      
Threshold period, write-off of bankrupt accounts 60 days      
Loan and interest receivables, allowance $ 47 $ 63 $ 328 $ 305
Consumer Receivables | Other Consumer Credit Products        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loan and interest receivables 57 55    
Loan and interest receivables, allowance 9 7    
Merchant Receivables        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loan and interest receivables 1,227 1,012    
Loan and interest receivables, allowance $ 83 $ 59 $ 32 $ 31
XML 79 R68.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans and Interest Receivable - Merchant Receivables (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Expected period of repayment 180 days  
Merchant Receivables    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loan and interest receivables $ 1,227 $ 1,012
Merchant Receivables | PayPal Working Capital Products    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Participation interest sold, value $ 28 $ 28
Merchant Receivables | PayPal Working Capital Products | Minimum    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Required percentage of original loan payments every 90 Days 10.00%  
Expected period of repayment 9 months  
Merchant Receivables | PayPal Working Capital Products | Maximum    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Expected period of repayment 12 months  
Merchant Receivables | Swift Business Loan Products | Minimum    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Expected period of repayment 3 months  
Merchant Receivables | Swift Business Loan Products | Maximum    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Expected period of repayment 12 months  
XML 80 R69.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans and Interest Receivable - Swift Merchant Loans and Advance Receivables (Details) - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Merchant Receivables    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Loan and interest receivables $ 1,227 $ 1,012
XML 81 R70.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans and Interest Receivable - Allowance for Loans and Interest Receivable (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Consumer Receivables      
Allowance for loans and interest receivable      
Beginning balance $ 63 $ 305  
Provisions 26 149  
Charge-offs (42) (136)  
Recoveries 0 10  
Ending balance 47 328  
Consumer Receivables | U.S.      
Allowance for loans and interest receivable      
Consumer loans and interest receivable not designated as held for sale and are expected to be charged off 31   $ 50
Consumer Receivables | Loans and Advances      
Allowance for loans and interest receivable      
Beginning balance 57 265  
Provisions 23 120  
Charge-offs (39) (104)  
Recoveries 0 10  
Ending balance 41 291  
Consumer Receivables | Interest and Fees Receivable      
Allowance for loans and interest receivable      
Beginning balance 6 40  
Provisions 3 29  
Charge-offs (3) (32)  
Recoveries 0 0  
Ending balance 6 37  
Merchant Receivables      
Allowance for loans and interest receivable      
Beginning balance 59 31  
Provisions 45 11  
Charge-offs (23) (12)  
Recoveries 2 2  
Ending balance 83 32  
Merchant Receivables | Loans and Advances      
Allowance for loans and interest receivable      
Beginning balance 52 28  
Provisions 39 9  
Charge-offs (21) (10)  
Recoveries 2 2  
Ending balance 72 29  
Merchant Receivables | Interest and Fees Receivable      
Allowance for loans and interest receivable      
Beginning balance 7 3  
Provisions 6 2  
Charge-offs (2) (2)  
Recoveries 0 0  
Ending balance $ 11 $ 3  
XML 82 R71.htm IDEA: XBRL DOCUMENT v3.8.0.1
Loans and Interest Receivable - Merchant Receivable Delinquency and Allowance (Details)
3 Months Ended
Mar. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Expected period of repayment 180 days
Threshold period, write-off of receivables, nonpayment 60 days
Threshold period two, write-off of receivables 360 days
Merchant Receivables | Swift Business Loan Products  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Threshold period, write-off of receivables 180 days
Threshold period, exceeding expected period of repayment for write-off of financing receivable 180 days
Threshold period, write-off of bankrupt accounts 60 days
XML 83 R72.htm IDEA: XBRL DOCUMENT v3.8.0.1
Notes Payable (Details)
3 Months Ended
Apr. 05, 2018
USD ($)
Mar. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
borrowing
Sep. 30, 2015
USD ($)
Minimum | London Interbank Offered Rate (LIBOR)        
Line of Credit Facility [Line Items]        
Basis spread on variable rate       100.00%
Minimum | Agent Bank’s Prime Rate, The Federal Funds Effective Rate or London Interbank Offered Rate (LIBOR)        
Line of Credit Facility [Line Items]        
Basis spread on variable rate       0.00%
Maximum | London Interbank Offered Rate (LIBOR)        
Line of Credit Facility [Line Items]        
Basis spread on variable rate       162.50%
Maximum | Agent Bank’s Prime Rate, The Federal Funds Effective Rate or London Interbank Offered Rate (LIBOR)        
Line of Credit Facility [Line Items]        
Basis spread on variable rate       62.50%
Revolving Credit Facility | Unsecured Debt        
Line of Credit Facility [Line Items]        
Maximum borrowing capacity       $ 2,000,000,000.0
Credit facility, term       5 years
Available borrowing capacity   $ 2,000,000,000.0    
Accordion feature, increase in maximum borrowing capacity       $ 500,000,000
Revolving Credit Facility | Uncommitted Credit Facilities        
Line of Credit Facility [Line Items]        
Maximum borrowing capacity   350,000,000    
Borrowings outstanding   0    
Available borrowing capacity   350,000,000    
Letter of Credit Sub-Facility | Unsecured Debt        
Line of Credit Facility [Line Items]        
Maximum borrowing capacity       150,000,000
Swingline Sub-Facility | Unsecured Debt        
Line of Credit Facility [Line Items]        
Maximum borrowing capacity       $ 150,000,000
Unsecured Debt | Delayed-Draw Term Loan Credit Facility        
Line of Credit Facility [Line Items]        
Maximum borrowing capacity     $ 3,000,000,000.0  
Credit facility, term     364 days  
Maximum number of borrowings | borrowing     3  
Draw downs from lines of credit   2,000,000,000    
Borrowings outstanding   $ 3,000,000,000    
Interest rate during period   2.88%    
Available borrowing capacity   $ 0    
Interest expense and fees   $ 15,000,000    
Unsecured Debt | Delayed-Draw Term Loan Credit Facility | Subsequent Event        
Line of Credit Facility [Line Items]        
Repayments of lines of credit $ 1,000,000,000      
XML 84 R73.htm IDEA: XBRL DOCUMENT v3.8.0.1
Commitments and Contingencies - Additional Information (Details)
customer in Millions, $ in Billions
1 Months Ended
Mar. 30, 2018
Jan. 18, 2018
Apr. 30, 2018
Mar. 31, 2018
USD ($)
Mar. 16, 2018
plantiff
Dec. 31, 2017
USD ($)
Dec. 01, 2017
customer
Commitments and Contingencies Disclosure [Abstract]              
Unused credit available to accountholders | $       $ 27.3   $ 26.4  
Loss Contingencies [Line Items]              
Number of days to file amended complaint 75 days 30 days          
Number of customers with potentially compromised information | customer             1.6
Number of new court appointed plantiffs | plantiff         2    
Subsequent Event | Minimum              
Loss Contingencies [Line Items]              
Number of days to file amended complaint     30 days        
Subsequent Event | Maximum              
Loss Contingencies [Line Items]              
Number of days to file amended complaint     3 years        
XML 85 R74.htm IDEA: XBRL DOCUMENT v3.8.0.1
Commitments and Contingencies - Estimate of the Maximum Potential Exposure and Allowance for Transaction Losses Related to Protection Products (Details) - Protection Programs - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Loss Contingencies [Line Items]    
Allowance for transaction losses and negative customer balances $ 283 $ 266
Maximum    
Loss Contingencies [Line Items]    
Maximum potential exposure $ 173,764 $ 165,207
XML 86 R75.htm IDEA: XBRL DOCUMENT v3.8.0.1
Related Party Transactions (Details) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Related Party Transactions [Abstract]    
Accounts payable to related parties $ 0 $ 0
Accounts receivable from related parties $ 0 $ 0
XML 87 R76.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock Repurchase Programs (Details) - USD ($)
1 Months Ended 3 Months Ended
Mar. 31, 2018
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Apr. 30, 2017
Equity, Class of Treasury Stock [Line Items]          
Repurchases of shares of common stock, Shares Repurchased (in shares)   23,600,000      
Repurchases of shares of common stock, Cash Paid for Shares Repurchased   $ 1,825,000,000 $ 517,000,000    
Remaining Amount Authorized $ 3,174,000,000 $ 3,174,000,000   $ 4,999,000,000  
Treasury stock, retired (in shares)   0      
Stock Repurchase Program          
Equity, Class of Treasury Stock [Line Items]          
Stock repurchase program, maximum authorized amount         $ 5,000,000,000
Repurchases of shares of common stock, Shares Repurchased (in shares)   10,800,000      
Repurchases of shares of common stock, Average Price per Share (in usd per share)   $ 76.82      
Repurchases of shares of common stock, Cash Paid for Shares Repurchased   $ 825,000,000      
Remaining Amount Authorized $ 4,174,000,000 $ 4,174,000,000      
Accelerated Share Repurchase Agreement          
Equity, Class of Treasury Stock [Line Items]          
Repurchases of shares of common stock, Shares Repurchased (in shares) 12,800,000 12,800,000      
Repurchases of shares of common stock, Average Price per Share (in usd per share)   $ 78.03      
Repurchases of shares of common stock, Cash Paid for Shares Repurchased $ 1,000,000,000 $ 1,000,000,000      
Remaining Amount Authorized $ 3,174,000,000 3,174,000,000      
Treasury stock recorded for repurchases   $ 985,000,000      
XML 88 R77.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Plans - Additional Information (Details)
3 Months Ended
Mar. 31, 2018
$ / shares
shares
Employee Stock Option  
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]  
Outstanding (in shares) 1,900,000
Granted (in shares) 0
Restricted Stock Units (RSUs) And Performance Shares  
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]  
Weighted average grant-date fair value of restricted stock units granted in period (in usd per share) | $ / shares $ 78.58
Granted (in shares) 12,103,000
Restricted Stock Units (RSUs) | One-year performance period  
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]  
Award requisite service period 3 years
Performance Shares | Minimum  
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]  
Issuance percentage of target amount 0.00%
Performance Shares | Maximum  
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]  
Issuance percentage of target amount 200.00%
Performance Shares | One-year performance period  
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]  
Award requisite service period 1 year
Granted (in shares) 1,500,000
Performance Shares | Three-year performance period  
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]  
Award requisite service period 3 years
Granted (in shares) 700,000
XML 89 R78.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Plans - Summary of Restricted Stock Units and Performance-Based Restricted Stock Units (Details)
shares in Thousands
3 Months Ended
Mar. 31, 2018
shares
Restricted Stock Units (RSUs) And Performance Shares  
Restricted stock units  
Outstanding balance, beginning of period (in shares) 33,875
Awarded (in shares) 12,103
Vested (in shares) (9,663)
Forfeited (in shares) (484)
Outstanding balance, end of period (in shares) 35,831
Expected to vest at the end of period (in shares) 30,871
Performance Shares | 2017 Annual Incentive Plan  
Restricted stock units  
Awarded (in shares) 2,100
XML 90 R79.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Plans - Schedule of Stock-Based Compensation Expense (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Stock-based compensation expense $ 209 $ 147
Capitalized as part of internal use software and website development costs 7 3
Customer support and operations    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Stock-based compensation expense 38 30
Sales and marketing    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Stock-based compensation expense 44 28
Product development    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Stock-based compensation expense 64 45
General and administrative    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Stock-based compensation expense 59 42
Depreciation and amortization    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Stock-based compensation expense $ 4 $ 2
XML 91 R80.htm IDEA: XBRL DOCUMENT v3.8.0.1
Income Taxes (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Income Tax Disclosure [Abstract]    
Effective income tax rate, percentage 7.00% 12.00%
U.S. Federal statutory income tax rate, percentage 21.00% 35.00%
Tax Cuts and Jobs Act of 2017 adjustment to provisional income tax expense $ 3  
XML 92 R81.htm IDEA: XBRL DOCUMENT v3.8.0.1
Restructuring - Restructuring Costs (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Restructuring Cost and Reserve [Line Items]    
Restructuring and other charges $ 25  
Reductions of global workforce    
Restructuring Cost and Reserve [Line Items]    
Restructuring and other charges $ 25 $ 40
XML 93 R82.htm IDEA: XBRL DOCUMENT v3.8.0.1
Restructuring - Restructuring Reserve Activity (Details)
$ in Millions
3 Months Ended
Mar. 31, 2018
USD ($)
Restructuring Reserve  
Accrued liability, beginning of period $ 2
Charges 25
Payments (2)
Accrued liability, end of period $ 25
XML 94 R83.htm IDEA: XBRL DOCUMENT v3.8.0.1
Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income (Loss) Balances (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Accumulated Balances of Other Comprehensive Income (Loss), Tax    
AOCI tax, beginning balance $ 6 $ 1
Other comprehensive income (loss) before reclassifications, tax 4 1
Less: Amount of gains (losses) reclassified from accumulated other comprehensive income, tax 0 0
Net current period other comprehensive income (loss), tax 4 1
AOCI tax, ending balance 10 2
Accumulated Balances of Other Comprehensive Income (Loss), Net of Tax    
AOCI, net of tax, beginning balance 15,994  
Other comprehensive income (loss) before reclassifications, net of tax   (18)
Less: Amount of gains (losses) reclassified from accumulated other comprehensive income, net of tax   39
Other comprehensive (loss) income, net of tax (27) (57)
AOCI, net of tax, ending balance 14,641  
AOCI Attributable to Parent    
Accumulated Balances of Other Comprehensive Income (Loss), Net of Tax    
AOCI, net of tax, beginning balance (142) 59
Other comprehensive income (loss) before reclassifications, net of tax (72)  
Less: Amount of gains (losses) reclassified from accumulated other comprehensive income, net of tax (45)  
Other comprehensive (loss) income, net of tax (27)  
AOCI, net of tax, ending balance (169) 2
Unrealized Gains (Losses) on Cash Flow Hedges    
Accumulated Balances of Other Comprehensive Income (Loss), Before Tax    
AOCI before tax, beginning balance (111) 131
Other comprehensive income (loss) before reclassifications, before tax (62) (32)
Less: Amount of gains (losses) reclassified from accumulated other comprehensive income, before tax (44) 40
Net current period other comprehensive income (loss), before tax (18) (72)
AOCI before tax, ending balance (129) 59
Unrealized Gains (Losses) on Investments    
Accumulated Balances of Other Comprehensive Income (Loss), Before Tax    
AOCI before tax, beginning balance (12) (5)
Other comprehensive income (loss) before reclassifications, before tax (16) 0
Less: Amount of gains (losses) reclassified from accumulated other comprehensive income, before tax (1) (1)
Net current period other comprehensive income (loss), before tax (15) 1
AOCI before tax, ending balance (27) (4)
Foreign Currency Translation    
Accumulated Balances of Other Comprehensive Income (Loss), Before Tax    
AOCI before tax, beginning balance (25) (68)
Other comprehensive income (loss) before reclassifications, before tax 2 13
Less: Amount of gains (losses) reclassified from accumulated other comprehensive income, before tax 0 0
Net current period other comprehensive income (loss), before tax 2 13
AOCI before tax, ending balance $ (23) $ (55)
XML 95 R84.htm IDEA: XBRL DOCUMENT v3.8.0.1
Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Other Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Net revenues $ 3,685 $ 2,975
Other income (expense), net 14 7
Income before income taxes 548 438
Income tax expense (37) (54)
Net income 511 384
Amount of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss)    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Net income (45) 39
Amount of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) | Gains (losses) on cash flow hedges-foreign exchange contracts    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Net revenues (44) 40
Amount of Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss) | Unrealized gains (losses) on investments    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Other income (expense), net (1) (1)
Income before income taxes (45) 39
Income tax expense $ 0 $ 0
XML 96 R9999.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Cash Equivalents [Member]  
Restricted Cash and Cash Equivalents, Current us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue $ 19,000,000
Restricted Cash and Cash Equivalents, Current us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue 16,000,000
Funds Receivable And Customer Accounts [Member]  
Restricted Cash and Cash Equivalents, Current us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue 4,325,000,000
Restricted Cash and Cash Equivalents, Current us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue $ 5,832,000,000
EXCEL 97 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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�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end

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end XML 98 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 99 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 101 FilingSummary.xml IDEA: XBRL DOCUMENT 3.8.0.1 html 303 282 1 false 85 0 false 9 false false R1.htm 0001000 - Document - Document and Entity Information Sheet http://www.paypal.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 1001000 - Statement - CONDENSED CONSOLIDATED BALANCE SHEET Sheet http://www.paypal.com/role/CondensedConsolidatedBalanceSheet CONDENSED CONSOLIDATED BALANCE SHEET Statements 2 false false R3.htm 1001001 - Statement - CONDENSED CONSOLIDATED BALANCE SHEET (PARENTHETICAL) Sheet http://www.paypal.com/role/CondensedConsolidatedBalanceSheetParenthetical CONDENSED CONSOLIDATED BALANCE SHEET (PARENTHETICAL) Statements 3 false false R4.htm 1002000 - Statement - CONDENSED CONSOLIDATED STATEMENT OF INCOME Sheet http://www.paypal.com/role/CondensedConsolidatedStatementOfIncome CONDENSED CONSOLIDATED STATEMENT OF INCOME Statements 4 false false R5.htm 1003000 - Statement - CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Sheet http://www.paypal.com/role/CondensedConsolidatedStatementOfComprehensiveIncome CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Statements 5 false false R6.htm 1004000 - Statement - CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS Sheet http://www.paypal.com/role/CondensedConsolidatedStatementOfCashFlows CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS Statements 6 false false R7.htm 2101100 - Disclosure - Overview and Summary of Significant Accounting Policies Sheet http://www.paypal.com/role/OverviewAndSummaryOfSignificantAccountingPolicies Overview and Summary of Significant Accounting Policies Notes 7 false false R8.htm 2104100 - Disclosure - Revenue Sheet http://www.paypal.com/role/Revenue Revenue Notes 8 false false R9.htm 2107100 - Disclosure - Net Income Per Share Sheet http://www.paypal.com/role/NetIncomePerShare Net Income Per Share Notes 9 false false R10.htm 2110100 - Disclosure - Business Combinations Sheet http://www.paypal.com/role/BusinessCombinations Business Combinations Notes 10 false false R11.htm 2113100 - Disclosure - Goodwill and Intangible Assets Sheet http://www.paypal.com/role/GoodwillAndIntangibleAssets Goodwill and Intangible Assets Notes 11 false false R12.htm 2116100 - Disclosure - Geographical Information Sheet http://www.paypal.com/role/GeographicalInformation Geographical Information Notes 12 false false R13.htm 2119100 - Disclosure - Funds Receivable and Customer Accounts Sheet http://www.paypal.com/role/FundsReceivableAndCustomerAccounts Funds Receivable and Customer Accounts Notes 13 false false R14.htm 2122100 - Disclosure - Investments Sheet http://www.paypal.com/role/Investments Investments Notes 14 false false R15.htm 2125100 - Disclosure - Fair Value Measurement of Assets and Liabilities Sheet http://www.paypal.com/role/FairValueMeasurementOfAssetsAndLiabilities Fair Value Measurement of Assets and Liabilities Notes 15 false false R16.htm 2128100 - Disclosure - Derivative Instruments Sheet http://www.paypal.com/role/DerivativeInstruments Derivative Instruments Notes 16 false false R17.htm 2129100 - Disclosure - Loans and Interest Receivable Sheet http://www.paypal.com/role/LoansAndInterestReceivable Loans and Interest Receivable Notes 17 false false R18.htm 2131100 - Disclosure - Notes Payable Notes http://www.paypal.com/role/NotesPayable Notes Payable Notes 18 false false R19.htm 2134100 - Disclosure - Commitments and Contingencies Sheet http://www.paypal.com/role/CommitmentsAndContingencies Commitments and Contingencies Notes 19 false false R20.htm 2137100 - Disclosure - Related Party Transactions Sheet http://www.paypal.com/role/RelatedPartyTransactions Related Party Transactions Notes 20 false false R21.htm 2140100 - Disclosure - Stock Repurchase Programs Sheet http://www.paypal.com/role/StockRepurchasePrograms Stock Repurchase Programs Notes 21 false false R22.htm 2141100 - Disclosure - Stock-Based Plans Sheet http://www.paypal.com/role/StockBasedPlans Stock-Based Plans Notes 22 false false R23.htm 2142100 - Disclosure - Income Taxes Sheet http://www.paypal.com/role/IncomeTaxes Income Taxes Notes 23 false false R24.htm 2143100 - Disclosure - Restructuring Sheet http://www.paypal.com/role/Restructuring Restructuring Notes 24 false false R25.htm 2144100 - Disclosure - Accumulated Other Comprehensive Income (Loss) Sheet http://www.paypal.com/role/AccumulatedOtherComprehensiveIncomeLoss Accumulated Other Comprehensive Income (Loss) Notes 25 false false R26.htm 2201201 - Disclosure - Overview and Summary of Significant Accounting Policies (Policies) Sheet http://www.paypal.com/role/OverviewAndSummaryOfSignificantAccountingPoliciesPolicies Overview and Summary of Significant Accounting Policies (Policies) Policies http://www.paypal.com/role/OverviewAndSummaryOfSignificantAccountingPolicies 26 false false R27.htm 2304301 - Disclosure - Revenue (Tables) Sheet http://www.paypal.com/role/RevenueTables Revenue (Tables) Tables http://www.paypal.com/role/Revenue 27 false false R28.htm 2307301 - Disclosure - Net Income Per Share (Tables) Sheet http://www.paypal.com/role/NetIncomePerShareTables Net Income Per Share (Tables) Tables http://www.paypal.com/role/NetIncomePerShare 28 false false R29.htm 2313301 - Disclosure - Goodwill and Intangible Assets (Tables) Sheet http://www.paypal.com/role/GoodwillAndIntangibleAssetsTables Goodwill and Intangible Assets (Tables) Tables http://www.paypal.com/role/GoodwillAndIntangibleAssets 29 false false R30.htm 2316301 - Disclosure - Geographical Information (Tables) Sheet http://www.paypal.com/role/GeographicalInformationTables Geographical Information (Tables) Tables http://www.paypal.com/role/GeographicalInformation 30 false false R31.htm 2319301 - Disclosure - Funds Receivable and Customer Accounts (Tables) Sheet http://www.paypal.com/role/FundsReceivableAndCustomerAccountsTables Funds Receivable and Customer Accounts (Tables) Tables http://www.paypal.com/role/FundsReceivableAndCustomerAccounts 31 false false R32.htm 2322301 - Disclosure - Investments (Tables) Sheet http://www.paypal.com/role/InvestmentsTables Investments (Tables) Tables http://www.paypal.com/role/Investments 32 false false R33.htm 2325301 - Disclosure - Fair Value Measurement of Assets and Liabilities (Tables) Sheet http://www.paypal.com/role/FairValueMeasurementOfAssetsAndLiabilitiesTables Fair Value Measurement of Assets and Liabilities (Tables) Tables http://www.paypal.com/role/FairValueMeasurementOfAssetsAndLiabilities 33 false false R34.htm 2328301 - Disclosure - Derivative Instruments (Tables) Sheet http://www.paypal.com/role/DerivativeInstrumentsTables Derivative Instruments (Tables) Tables http://www.paypal.com/role/DerivativeInstruments 34 false false R35.htm 2329301 - Disclosure - Loans and Interest Receivable (Tables) Sheet http://www.paypal.com/role/LoansAndInterestReceivableTables Loans and Interest Receivable (Tables) Tables http://www.paypal.com/role/LoansAndInterestReceivable 35 false false R36.htm 2334301 - Disclosure - Commitments and Contingencies (Tables) Sheet http://www.paypal.com/role/CommitmentsAndContingenciesTables Commitments and Contingencies (Tables) Tables http://www.paypal.com/role/CommitmentsAndContingencies 36 false false R37.htm 2340301 - Disclosure - Stock Repurchase Programs (Tables) Sheet http://www.paypal.com/role/StockRepurchaseProgramsTables Stock Repurchase Programs (Tables) Tables http://www.paypal.com/role/StockRepurchasePrograms 37 false false R38.htm 2341301 - Disclosure - Stock-Based Plans (Tables) Sheet http://www.paypal.com/role/StockBasedPlansTables Stock-Based Plans (Tables) Tables http://www.paypal.com/role/StockBasedPlans 38 false false R39.htm 2343301 - Disclosure - Restructuring (Tables) Sheet http://www.paypal.com/role/RestructuringTables Restructuring (Tables) Tables http://www.paypal.com/role/Restructuring 39 false false R40.htm 2344301 - Disclosure - Accumulated Other Comprehensive Income (Loss) (Tables) Sheet http://www.paypal.com/role/AccumulatedOtherComprehensiveIncomeLossTables Accumulated Other Comprehensive Income (Loss) (Tables) Tables http://www.paypal.com/role/AccumulatedOtherComprehensiveIncomeLoss 40 false false R41.htm 2404402 - Disclosure - Revenue - Additional Information (Details) Sheet http://www.paypal.com/role/RevenueAdditionalInformationDetails Revenue - Additional Information (Details) Details 41 false false R42.htm 2404403 - Disclosure - Revenue - Disaggregation of Revenue (Details) Sheet http://www.paypal.com/role/RevenueDisaggregationOfRevenueDetails Revenue - Disaggregation of Revenue (Details) Details 42 false false R43.htm 2407402 - Disclosure - Net Income Per Share - Computation of Basic and Diluted Earnings per Share (Details) Sheet http://www.paypal.com/role/NetIncomePerShareComputationOfBasicAndDilutedEarningsPerShareDetails Net Income Per Share - Computation of Basic and Diluted Earnings per Share (Details) Details 43 false false R44.htm 2413402 - Disclosure - Goodwill and Intangible Assets - Goodwill Balances and Adjustments (Details) Sheet http://www.paypal.com/role/GoodwillAndIntangibleAssetsGoodwillBalancesAndAdjustmentsDetails Goodwill and Intangible Assets - Goodwill Balances and Adjustments (Details) Details 44 false false R45.htm 2413403 - Disclosure - Goodwill and Intangible Assets - Components of Identifiable Intangible Assets (Details) Sheet http://www.paypal.com/role/GoodwillAndIntangibleAssetsComponentsOfIdentifiableIntangibleAssetsDetails Goodwill and Intangible Assets - Components of Identifiable Intangible Assets (Details) Details 45 false false R46.htm 2413404 - Disclosure - Goodwill and Intangible Assets - Additional Information (Details) Sheet http://www.paypal.com/role/GoodwillAndIntangibleAssetsAdditionalInformationDetails Goodwill and Intangible Assets - Additional Information (Details) Details 46 false false R47.htm 2413405 - Disclosure - Goodwill and Intangible Assets - Expected Future Intangible Asset Amortization (Details) Sheet http://www.paypal.com/role/GoodwillAndIntangibleAssetsExpectedFutureIntangibleAssetAmortizationDetails Goodwill and Intangible Assets - Expected Future Intangible Asset Amortization (Details) Details 47 false false R48.htm 2416402 - Disclosure - Geographical Information (Details) Sheet http://www.paypal.com/role/GeographicalInformationDetails Geographical Information (Details) Details http://www.paypal.com/role/GeographicalInformationTables 48 false false R49.htm 2419402 - Disclosure - Funds Receivable and Customer Accounts - Assets Underlying Funds Receivable and Customer Accounts (Details) Sheet http://www.paypal.com/role/FundsReceivableAndCustomerAccountsAssetsUnderlyingFundsReceivableAndCustomerAccountsDetails Funds Receivable and Customer Accounts - Assets Underlying Funds Receivable and Customer Accounts (Details) Details 49 false false R50.htm 2419403 - Disclosure - Funds Receivable and Customer Accounts - Estimated Fair Value of Investments Classified as Available for Sale (Details) Sheet http://www.paypal.com/role/FundsReceivableAndCustomerAccountsEstimatedFairValueOfInvestmentsClassifiedAsAvailableForSaleDetails Funds Receivable and Customer Accounts - Estimated Fair Value of Investments Classified as Available for Sale (Details) Details 50 false false R51.htm 2419404 - Disclosure - Funds Receivable and Customer Accounts - Additional Information (Details) Sheet http://www.paypal.com/role/FundsReceivableAndCustomerAccountsAdditionalInformationDetails Funds Receivable and Customer Accounts - Additional Information (Details) Details 51 false false R52.htm 2419405 - Disclosure - Funds Receivable and Customer Accounts - Estimated Fair Values of Investments Classified as Available for Sale by Contractual Maturity (Details) Sheet http://www.paypal.com/role/FundsReceivableAndCustomerAccountsEstimatedFairValuesOfInvestmentsClassifiedAsAvailableForSaleByContractualMaturityDetails Funds Receivable and Customer Accounts - Estimated Fair Values of Investments Classified as Available for Sale by Contractual Maturity (Details) Details 52 false false R53.htm 2422402 - Disclosure - Investments - Estimated Fair Values of Investments Classified as Available for Sale (Details) Sheet http://www.paypal.com/role/InvestmentsEstimatedFairValuesOfInvestmentsClassifiedAsAvailableForSaleDetails Investments - Estimated Fair Values of Investments Classified as Available for Sale (Details) Details 53 false false R54.htm 2422403 - Disclosure - Investments - Additional Information (Details) Sheet http://www.paypal.com/role/InvestmentsAdditionalInformationDetails Investments - Additional Information (Details) Details 54 false false R55.htm 2422404 - Disclosure - Investments - Estimated Fair Values of Investments Classified as Available for Sale by Date of Contractual Maturity (Details) Sheet http://www.paypal.com/role/InvestmentsEstimatedFairValuesOfInvestmentsClassifiedAsAvailableForSaleByDateOfContractualMaturityDetails Investments - Estimated Fair Values of Investments Classified as Available for Sale by Date of Contractual Maturity (Details) Details 55 false false R56.htm 2425402 - Disclosure - Fair Value Measurement of Assets and Liabilities - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) Sheet http://www.paypal.com/role/FairValueMeasurementOfAssetsAndLiabilitiesFinancialAssetsAndLiabilitiesMeasuredAtFairValueOnRecurringBasisDetails Fair Value Measurement of Assets and Liabilities - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) Details 56 false false R57.htm 2425403 - Disclosure - Fair Value Measurement of Assets and Liabilities - Additional Information (Details) Sheet http://www.paypal.com/role/FairValueMeasurementOfAssetsAndLiabilitiesAdditionalInformationDetails Fair Value Measurement of Assets and Liabilities - Additional Information (Details) Details 57 false false R58.htm 2428402 - Disclosure - Derivative Instruments - Additional Information (Details) Sheet http://www.paypal.com/role/DerivativeInstrumentsAdditionalInformationDetails Derivative Instruments - Additional Information (Details) Details 58 false false R59.htm 2428403 - Disclosure - Derivative Instruments - Fair Value of Outstanding Derivative Instruments (Details) Sheet http://www.paypal.com/role/DerivativeInstrumentsFairValueOfOutstandingDerivativeInstrumentsDetails Derivative Instruments - Fair Value of Outstanding Derivative Instruments (Details) Details 59 false false R60.htm 2428404 - Disclosure - Derivative Instruments - Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) (Details) Sheet http://www.paypal.com/role/DerivativeInstrumentsCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossDetails Derivative Instruments - Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) (Details) Details 60 false false R61.htm 2428405 - Disclosure - Derivative Instruments - Effect of Derivative Contracts on Condensed Consolidated Statements of Income (Details) Sheet http://www.paypal.com/role/DerivativeInstrumentsEffectOfDerivativeContractsOnCondensedConsolidatedStatementsOfIncomeDetails Derivative Instruments - Effect of Derivative Contracts on Condensed Consolidated Statements of Income (Details) Details 61 false false R62.htm 2428406 - Disclosure - Derivative Instruments - Schedule of Notional Amounts of Outstanding Derivatives (Details) Sheet http://www.paypal.com/role/DerivativeInstrumentsScheduleOfNotionalAmountsOfOutstandingDerivativesDetails Derivative Instruments - Schedule of Notional Amounts of Outstanding Derivatives (Details) Details 62 false false R63.htm 2429402 - Disclosure - Loans and Interest Receivable - Additional Information (Details) Sheet http://www.paypal.com/role/LoansAndInterestReceivableAdditionalInformationDetails Loans and Interest Receivable - Additional Information (Details) Details 63 false false R64.htm 2429403 - Disclosure - Loans and Interest Receivable - Loans and Interest Receivable, Held for Sale (Details) Sheet http://www.paypal.com/role/LoansAndInterestReceivableLoansAndInterestReceivableHeldForSaleDetails Loans and Interest Receivable - Loans and Interest Receivable, Held for Sale (Details) Details 64 false false R65.htm 2429404 - Disclosure - Loans and Interest Receivable - Loans and Interest Receivables by FICO Score (Details) Sheet http://www.paypal.com/role/LoansAndInterestReceivableLoansAndInterestReceivablesByFicoScoreDetails Loans and Interest Receivable - Loans and Interest Receivables by FICO Score (Details) Details 65 false false R66.htm 2429405 - Disclosure - Loans and Interest Receivable - Delinquency Status of the Principal Amount of Loans and Interest Receivables (Details) Sheet http://www.paypal.com/role/LoansAndInterestReceivableDelinquencyStatusOfPrincipalAmountOfLoansAndInterestReceivablesDetails Loans and Interest Receivable - Delinquency Status of the Principal Amount of Loans and Interest Receivables (Details) Details 66 false false R67.htm 2429406 - Disclosure - Loans and Interest Receivable - Loans and Interest Receivable, Net (Details) Sheet http://www.paypal.com/role/LoansAndInterestReceivableLoansAndInterestReceivableNetDetails Loans and Interest Receivable - Loans and Interest Receivable, Net (Details) Details 67 false false R68.htm 2429407 - Disclosure - Loans and Interest Receivable - Merchant Receivables (Details) Sheet http://www.paypal.com/role/LoansAndInterestReceivableMerchantReceivablesDetails Loans and Interest Receivable - Merchant Receivables (Details) Details 68 false false R69.htm 2429408 - Disclosure - Loans and Interest Receivable - Swift Merchant Loans and Advance Receivables (Details) Sheet http://www.paypal.com/role/LoansAndInterestReceivableSwiftMerchantLoansAndAdvanceReceivablesDetails Loans and Interest Receivable - Swift Merchant Loans and Advance Receivables (Details) Details 69 false false R70.htm 2429409 - Disclosure - Loans and Interest Receivable - Allowance for Loans and Interest Receivable (Details) Sheet http://www.paypal.com/role/LoansAndInterestReceivableAllowanceForLoansAndInterestReceivableDetails Loans and Interest Receivable - Allowance for Loans and Interest Receivable (Details) Details 70 false false R71.htm 2429410 - Disclosure - Loans and Interest Receivable - Merchant Receivable Delinquency and Allowance (Details) Sheet http://www.paypal.com/role/LoansAndInterestReceivableMerchantReceivableDelinquencyAndAllowanceDetails Loans and Interest Receivable - Merchant Receivable Delinquency and Allowance (Details) Details 71 false false R72.htm 2431401 - Disclosure - Notes Payable (Details) Notes http://www.paypal.com/role/NotesPayableDetails Notes Payable (Details) Details http://www.paypal.com/role/NotesPayable 72 false false R73.htm 2434402 - Disclosure - Commitments and Contingencies - Additional Information (Details) Sheet http://www.paypal.com/role/CommitmentsAndContingenciesAdditionalInformationDetails Commitments and Contingencies - Additional Information (Details) Details 73 false false R74.htm 2434403 - Disclosure - Commitments and Contingencies - Estimate of the Maximum Potential Exposure and Allowance for Transaction Losses Related to Protection Products (Details) Sheet http://www.paypal.com/role/CommitmentsAndContingenciesEstimateOfMaximumPotentialExposureAndAllowanceForTransactionLossesRelatedToProtectionProductsDetails Commitments and Contingencies - Estimate of the Maximum Potential Exposure and Allowance for Transaction Losses Related to Protection Products (Details) Details 74 false false R75.htm 2437401 - Disclosure - Related Party Transactions (Details) Sheet http://www.paypal.com/role/RelatedPartyTransactionsDetails Related Party Transactions (Details) Details http://www.paypal.com/role/RelatedPartyTransactions 75 false false R76.htm 2440402 - Disclosure - Stock Repurchase Programs (Details) Sheet http://www.paypal.com/role/StockRepurchaseProgramsDetails Stock Repurchase Programs (Details) Details http://www.paypal.com/role/StockRepurchaseProgramsTables 76 false false R77.htm 2441402 - Disclosure - Stock-Based Plans - Additional Information (Details) Sheet http://www.paypal.com/role/StockBasedPlansAdditionalInformationDetails Stock-Based Plans - Additional Information (Details) Details 77 false false R78.htm 2441403 - Disclosure - Stock-Based Plans - Summary of Restricted Stock Units and Performance-Based Restricted Stock Units (Details) Sheet http://www.paypal.com/role/StockBasedPlansSummaryOfRestrictedStockUnitsAndPerformanceBasedRestrictedStockUnitsDetails Stock-Based Plans - Summary of Restricted Stock Units and Performance-Based Restricted Stock Units (Details) Details 78 false false R79.htm 2441404 - Disclosure - Stock-Based Plans - Schedule of Stock-Based Compensation Expense (Details) Sheet http://www.paypal.com/role/StockBasedPlansScheduleOfStockBasedCompensationExpenseDetails Stock-Based Plans - Schedule of Stock-Based Compensation Expense (Details) Details 79 false false R80.htm 2442401 - Disclosure - Income Taxes (Details) Sheet http://www.paypal.com/role/IncomeTaxesDetails Income Taxes (Details) Details http://www.paypal.com/role/IncomeTaxes 80 false false R81.htm 2443402 - Disclosure - Restructuring - Restructuring Costs (Details) Sheet http://www.paypal.com/role/RestructuringRestructuringCostsDetails Restructuring - Restructuring Costs (Details) Details 81 false false R82.htm 2443403 - Disclosure - Restructuring - Restructuring Reserve Activity (Details) Sheet http://www.paypal.com/role/RestructuringRestructuringReserveActivityDetails Restructuring - Restructuring Reserve Activity (Details) Details 82 false false R83.htm 2444402 - Disclosure - Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income (Loss) Balances (Details) Sheet http://www.paypal.com/role/AccumulatedOtherComprehensiveIncomeLossSummaryOfChangesInAccumulatedOtherComprehensiveIncomeLossBalancesDetails Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income (Loss) Balances (Details) Details http://www.paypal.com/role/AccumulatedOtherComprehensiveIncomeLossTables 83 false false R84.htm 2444403 - Disclosure - Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Other Accumulated Other Comprehensive Income (Loss) (Details) Sheet http://www.paypal.com/role/AccumulatedOtherComprehensiveIncomeLossReclassificationsOutOfOtherAccumulatedOtherComprehensiveIncomeLossDetails Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Other Accumulated Other Comprehensive Income (Loss) (Details) Details http://www.paypal.com/role/AccumulatedOtherComprehensiveIncomeLossTables 84 false false R9999.htm Uncategorized Items - pypl-20180331.xml Sheet http://xbrl.sec.gov/role/uncategorizedFacts Uncategorized Items - pypl-20180331.xml Cover 85 false false All Reports Book All Reports pypl-20180331.xml pypl-20180331.xsd pypl-20180331_cal.xml pypl-20180331_def.xml pypl-20180331_lab.xml pypl-20180331_pre.xml http://xbrl.sec.gov/invest/2013-01-31 http://xbrl.sec.gov/dei/2014-01-31 http://fasb.org/us-gaap/2017-01-31 http://xbrl.sec.gov/country/2017-01-31 true true ZIP 103 0001633917-18-000096-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001633917-18-000096-xbrl.zip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