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SEGMENT REPORTING AND GEOGRAPHIC INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following table presents information for the Company's reportable segment. Other segment items include operating expenses such as general and administrative and information technology. See Note 2 for additional information on these expenses.
|  | Year Ended December 31,
(in millions) |  | 2024 |  | 2023 |  | 2022
Total revenues |  | $ | 23,739 |  |  | $ | 21,365 |  |  | $ | 17,090 |
Marketing expenses |  | 7,278 |  |  | 6,773 |  |  | 5,993 |
Sales and other expenses |  | 3,104 |  |  | 2,744 |  |  | 1,986 |
Personnel expenses |  | 3,133 |  |  | 2,818 |  |  | 2,310 |
Other segment items |  | 2,045 |  |  | 2,010 |  |  | 1,694 |
Segment Adjusted EBITDA less Capex |  | $ | 8,179 |  |  | $ | 7,020 |  |  | $ | 5,107 |
The following table presents the reconciliation of the Company's segment Adjusted EBITDA less Capex to Income before income taxes:
|  | Year Ended December 31,
(in millions) |  | 2024 |  | 2023 |  | 2022
Segment Adjusted EBITDA less Capex |  | $ | 8,179 |  |  | $ | 7,020 |  |  | $ | 5,107 |
Additions to property and equipment |  | 445 |  |  | 395 |  |  | 435 |
Accruals related to the Netherlands pension fund matter (1) |  | — |  |  | (276) |  |  | — |
Accruals related to fine imposed by the Spanish Competition authority (1) |  | 78 |  |  | (530) |  |  | — |
Accruals related to settlements of indirect tax matters (1) |  | (337) |  |  | (62) |  |  | (46) |
Termination fee related to an acquisition agreement (2) |  | — |  |  | (90) |  |  | — |
Depreciation and amortization (3) |  | (591) |  |  | (504) |  |  | (451) |
Transformation costs (4) |  | (34) |  |  | — |  |  | — |
Loss on assets classified as held for sale (5) |  | — |  |  | — |  |  | (36) |
Gain on sale and leaseback transaction (5) |  | — |  |  | — |  |  | 240 |
Interest expense (3) |  | (1,295) |  |  | (897) |  |  | (391) |
Interest and dividend income (3) |  | 1,114 |  |  | 1,020 |  |  | 219 |
Net gains (losses) on equity securities (6) |  | 63 |  |  | (131) |  |  | (963) |
Foreign currency transaction gains (losses) on the remeasurement of certain Euro-denominated debt and accrued interest and debt-related foreign currency derivative instruments (6) |  | 539 |  |  | (163) |  |  | 56 |
Loss related to the conversion option on convertible senior notes (7) |  | (535) |  |  | — |  |  | — |
Other (8) |  | (334) |  |  | (301) |  |  | (247) |
Income before income taxes |  | $ | 7,292 |  |  | $ | 5,481 |  |  | $ | 3,923 |
(1) See Note 16 for additional information. (2) See Note 22 for additional information. (3) See Consolidated Statements of Operations. (4) See Note 20 for additional information. (5) See Note 21 for additional information. (6) See Note 18 for additional information. (7) See Note 12 for additional information. (8) Primarily consists of the expenses of corporate headquarters and certain other functional departments.
Geographic information on revenues | The Company's geographic information on revenues for the years ended December 31, 2024, 2023, and 2022 is as follows:
(in millions) |  | U.S. |  |  |  |  | Outside of the U.S. (1) |  | Total Company
December 31, 2024 |  | $ | 2,485 |  |  |  |  |  | $ | 21,254 |  |  | $ | 23,739 |
December 31, 2023 |  | 2,327 |  |  |  |  |  | 19,038 |  |  | 21,365 |
December 31, 2022 |  | 2,205 |  |  |  |  |  | 14,885 |  |  | 17,090 |
(1) Includes $18.6 billion, $17.0 billion, and $13.4 billion for the years ended December 31, 2024, 2023, and 2022, respectively, attributed to an entity domiciled in the Netherlands.
Geographic information on property and equipment, excluding capitalized software, and operating lease assets | The following table presents information on the Company's property and equipment (excluding capitalized software) and operating lease assets based on location of the assets at December 31, 2024 and 2023:
|  | U.S. |  | Outside of the U.S. |  | Total Company
(in millions) |  |  | The Netherlands |  | United Kingdom |  | Other |
December 31, 2024 |  | $ | 129 |  |  | $ | 405 |  |  | $ | 168 |  |  | $ | 243 |  |  | $ | 945 |
December 31, 2023 |  | 127 |  |  | 476 |  |  | 209 |  |  | 229 |  |  | 1,041 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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