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OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) (Tables) | 6 Months Ended
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Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Other Current Assets | The following table presents the detail of other current assets (in thousands):
| June 30, 2024 |  | December 31, 2023
Restricted cash (i) | $ | 597,855 |  |  | $ | 770,380 |
Processing costs receivable | 400,961 |  |  | 365,153 |
Loans held for investment, net of allowance for loan losses (ii) | 236,413 |  |  | 247,631 |
Accounts receivable, net | 150,584 |  |  | 134,824 |
Prepaid expenses | 138,306 |  |  | 100,770 |
Inventory, net | 104,728 |  |  | 110,097 |
Short term deposits (iii) | 38,543 |  |  | 397,630 |
Other | 234,039 |  |  | 227,003 |
Total | $ | 1,901,429 |  |  | $ | 2,353,488 |
(i) Includes a portion invested in money market funds. Refer to Note 5, Fair Value Measurements for further details. (ii) Refer to Note 7, Customer Loans for further details. (iii) As of December 31, 2023, includes a $350.0 million deposit held by a processor to meet requirements related to processing volumes under an arrangement that was executed in the fourth quarter of 2023. During the first quarter of 2024, this $350.0 million deposit was returned to the Company.
Accrued Expenses and Other Current Liabilities | The following table presents the detail of accrued expenses and other current liabilities (in thousands):
| June 30, 2024 |  | December 31, 2023
Accrued expenses | $ | 418,039 |  |  | $ | 538,812 |
Customer deposits | 208,997 |  |  | 167,028 |
Accounts payable | 112,659 |  |  | 142,554 |
Accrued transaction losses (i) | 81,309 |  |  | 54,042 |
Accrued royalties | 55,937 |  |  | 62,140 |
Operating lease liabilities, current | 51,906 |  |  | 53,721 |
Other | 339,946 |  |  | 316,372 |
Total | $ | 1,268,793 |  |  | $ | 1,334,669 |
(i) The Company is exposed to potential credit losses related to transactions processed by sellers that are subsequently subject to chargebacks when the Company is unable to collect from the sellers primarily due to insolvency. Generally, the Company estimates the potential loss rates based on historical experience that is continuously adjusted for new information and incorporates, where applicable, reasonable and supportable forecasts about future expectations.
Reserve for Transaction Losses | The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Accrued transaction losses, beginning of the period | $ | 60,016 |  |  | $ | 62,085 |  |  | $ | 54,042 |  |  | $ | 64,539 |
Provision for transaction losses | 49,731 |  |  | 24,260 |  |  | 80,550 |  |  | 49,202 |
Charge-offs to accrued transaction losses | (28,438) |  |  | (23,587) |  |  | (53,283) |  |  | (50,983) |
Accrued transaction losses, end of the period | $ | 81,309 |  |  | $ | 62,758 |  |  | $ | 81,309 |  |  | $ | 62,758 |

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