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Interim Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operations:    
Net income $ 1,438 $ 1,272
Adjustments to reconcile net income to net cash provided by operating activities:    
Unrealized foreign currency losses, net 297 176
Depreciation and amortization 580 465
Accrued interest and financial income (850) (287)
Non cash interest expense and amortization of debt issuance costs and other charges 271 (33)
Provision for doubtful accounts 2,108 1,331
Provision for contingencies 71 111
Results on derivative instruments 96 (18)
Results on digital assets at fair value (13) (10)
Long term retention program (“LTRP”) accrued compensation 252 210
Deferred income taxes (310) (167)
Changes in assets and liabilities:    
Accounts receivable (44) (94)
Credit card receivables and other means of payments (1,059) (1,421)
Inventories (187) (110)
Other assets (234) (270)
Payables and accrued expenses 718 957
Funds payable to customers 2,607 1,880
Amounts payable due to credit and debit card transactions 766 761
Other liabilities 256 202
Operating lease liabilities (276) (131)
Interest received from investments 420 170
Net cash provided by operating activities 6,907 4,994
Cash flows from investing activities:    
Purchases of investments (9,883) (12,383)
Proceeds from sale and maturity of investments 11,242 10,089
Receipts from settlements of derivative instruments 3 18
Payments from settlements of derivative instruments (38) (12)
Changes in loans receivable, net (4,586) (3,316)
Investments in property and equipment, intangible assets and intangible assets at fair value (916) (555)
Cash flows from financing activities: (4,178) (6,159)
Cash flows from financing activities:    
Proceeds from loans payable and other financial liabilities 30,703 12,575
Payments on loans payable and other financing liabilities (29,140) (11,334)
Payments of finance lease liabilities (40) (38)
Common Stock repurchased (1) (1)
Net cash provided by financing activities 1,522 1,202
Effect of exchange rate changes on cash, cash equivalents, restricted cash and cash equivalents 249 (407)
Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents 4,500 (370)
Cash, cash equivalents, restricted cash and cash equivalents, beginning of the period 4,699 3,848
Cash, cash equivalents, restricted cash and cash equivalents, end of the period 9,199 3,478
Non-cash transactions:    
Right-of-use assets obtained under operating leases 974 257
Property and equipment obtained under finance leases 9 13
Investments in intangible assets not paid $ 23 $ 0