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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES:    
Net income $ 1,228 $ 2,297
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 312 279
Provision for expected credit losses and chargebacks 206 184
Deferred income taxes (402) (2)
Stock-based compensation expense 297 284
Operating lease amortization 66 79
Unrealized foreign currency transaction losses (gains) related to Euro-denominated debt 1,398 (235)
Amortization of debt discount on convertible senior notes 523 0
Change in fair value of the conversion option of the convertible senior notes [1] (163) 0
Other (67) 13
Changes in assets and liabilities:    
Accounts receivable (1,078) (830)
Deferred merchant bookings and other current liabilities 3,796 3,337
Other 368 (177)
Net cash provided by operating activities 6,484 5,229
INVESTING ACTIVITIES:    
Proceeds from maturity of investments 0 515
Additions to property and equipment (185) (276)
Other investing activities 6 (33)
Net cash (used in) provided by investing activities (179) 206
FINANCING ACTIVITIES:    
Proceeds from the issuance of long-term debt 1,955 2,959
Payments on maturity of debt (3,451) 0
Payments for repurchase of common stock (3,668) (3,518)
Dividends paid (631) (594)
Other financing activities 31 (29)
Net cash used in financing activities (5,764) (1,182)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents 903 (59)
Net increase in cash and cash equivalents and restricted cash and cash equivalents 1,444 4,194
Total cash and cash equivalents and restricted cash and cash equivalents, beginning of period 16,193 12,135
Total cash and cash equivalents and restricted cash and cash equivalents, end of period $ 17,637 $ 16,329
[1] See Note 9 for additional information.