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Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Reportable segment financial information is as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in millions)
2025202420252024
Net revenues
Product Commerce$7,334 $6,431 $14,204 $12,925 
Developing Offerings1,190 892 2,228 1,512 
Total net revenues$8,524 $7,323 $16,432 $14,437 
Cost of sales
Product Commerce$4,944 $4,481 $9,663 $9,139 
Developing Offerings1,019 700 1,892 1,227 
Total cost of sales$5,963 $5,181 $11,555 $10,366 
Gross profit
Product Commerce$2,390 $1,950 $4,541 $3,786 
Developing Offerings171 192 336 285 
Total gross profit$2,561 $2,142 $4,877 $4,071 
Other segment items (1)
Product Commerce1,727 1,420 3,328 2,789 
Developing Offerings406 392 739 671 
Total other segment items$2,133 $1,812 $4,067 $3,460 
Segment adjusted EBITDA
Product Commerce$663 $530 $1,213 $997 
Developing Offerings(235)(200)(403)(386)
Total segment adjusted EBITDA$428 $330 $810 $611 
(1)Other segment items relate to operating, general and administrative expense, excluding depreciation and amortization, equity-based compensation expense, impairments and other items that we do not believe are reflective of our ongoing operations. The CODM does not regularly review disaggregated expense information included within “Other segment Items” for any individual segment.
Reconciliations of segment profit or loss:
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2025202420252024
Total gross profit2,561 2,142 4,877 4,071 
Operating, general and administrative(2,412)(2,167)(4,574)(4,056)
Interest expense(25)(37)(48)(64)
Interest income51 53 100 108 
Other income, net19 12 55 3 
Income before income taxes$194 $3 $410 $62 
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2025202420252024
Total segment adjusted EBITDA
$428 $330 $810 $611 
Depreciation and amortization$(126)$(106)$(248)$(201)
Equity-based compensation(113)(109)(234)(197)
Acquisition and restructuring related losses, net(40)(19)(25)(77)
KFTC administrative fine (see Note 10)— (121)— (121)
Interest expense(25)(37)(48)(64)
Interest income51 53 100 108 
Other income, net19 12 55 3 
Income before income taxes$194 $3 $410 $62 
Note: Amounts may not foot due to rounding.