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Discontinued Operations (Tables) | 6 Months Ended
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Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Financial results of discontinued operations | The following table presents financial results from discontinued operations, net of income taxes in our condensed consolidated statement of income for the periods indicated (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 (1) |  | 2022 |  | 2021 (1)
Classifieds income from discontinued operations, net of income taxes | $ | 5 |  |  | $ | 10,428 |  |  | $ | 5 |  |  | $ | 10,500 |
eBay Korea income (loss) from discontinued operations, net of income taxes | — |  |  | 3 |  |  | (2) |  |  | 4 |
StubHub income from discontinued operations, net of income taxes | — |  |  | 9 |  |  | — |  |  | 9 |
Income (loss) from discontinued operations, net of income taxes | $ | 5 |  |  | $ | 10,440 |  |  | $ | 3 |  |  | $ | 10,513 |
(1) Includes Classifieds financial results through the transaction close on June 24, 2021 and includes the gain on sale recorded for the Classifieds transaction. The following table presents cash flows for discontinued operations for the periods indicated (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 (1) |  | 2022 |  | 2021 (1)
Classifieds net cash provided by (used in) discontinued operating activities | $ | — |  |  | $ | 41 |  |  | $ | (1) |  |  | $ | 145 |
eBay Korea net cash provided by (used in) discontinued operating activities | (349) |  |  | 17 |  |  | (364) |  |  | 7 |
Net cash provided by (used in) discontinued operating activities | $ | (349) |  |  | $ | 58 |  |  | $ | (365) |  |  | $ | 152 |
Classifieds net cash provided by discontinued investing activities | $ | — |  |  | $ | 2,454 |  |  | $ | — |  |  | $ | 2,453 |
eBay Korea net cash used in discontinued investing activities | — |  |  | (8) |  |  | — |  |  | (9) |
Net cash provided by (used in) discontinued investing activities | $ | — |  |  | $ | 2,446 |  |  | $ | — |  |  | $ | 2,444 |
eBay Korea net cash provided by (used in) discontinued financing activities | $ | — |  |  | $ | 6 |  |  | $ | — |  |  | $ | (62) |
Net cash provided by (used in) discontinued financing activities | $ | — |  |  | $ | 6 |  |  | $ | — |  |  | $ | (62) |
(1) Includes Classifieds financial results through the transaction close on June 24, 2021 and includes the gain on sale recorded for the Classifieds transaction. The following table presents the financial results of Classifieds for the periods indicated (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 (1) |  | 2022 |  | 2021 (1)
Net revenues | $ | — |  |  | $ | 289 |  |  | $ | — |  |  | $ | 565 |
Cost of net revenues | — |  |  | 33 |  |  | — |  |  | 63 |
Gross profit | — |  |  | 256 |  |  | — |  |  | 502 |
Operating expenses: |  |  |  |  |  |  |
Sales and marketing | — |  |  | 96 |  |  | — |  |  | 183 |
Product development | — |  |  | 62 |  |  | — |  |  | 105 |
General and administrative | (7) |  |  | 40 |  |  | (7) |  |  | 67 |
Provision for transaction losses | — |  |  | — |  |  | — |  |  | 2 |
Total operating expenses | (7) |  |  | 198 |  |  | (7) |  |  | 357 |
Income (loss) from operations of discontinued operations | 7 |  |  | 58 |  |  | 7 |  |  | 145 |
Interest and other, net | — |  |  | (1) |  |  | — |  |  | — |
Pre-tax gain on sale | — |  |  | 12,524 |  |  | — |  |  | 12,524 |
Income (loss) from discontinued operations before income taxes | 7 |  |  | 12,581 |  |  | 7 |  |  | 12,669 |
Income tax provision | (2) |  |  | (2,153) |  |  | (2) |  |  | (2,169) |
Income (loss) from discontinued operations, net of income taxes | $ | 5 |  |  | $ | 10,428 |  |  | $ | 5 |  |  | $ | 10,500 |
(1) Includes Classifieds financial results through the transaction close on June 24, 2021 and includes the gain on sale recorded for the Classifieds transaction. The following table presents the financial results of eBay Korea for the periods indicated (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Net revenues | $ | — |  |  | $ | 398 |  |  | $ | — |  |  | $ | 783 |
Cost of net revenues | — |  |  | 229 |  |  | — |  |  | 446 |
Gross profit | — |  |  | 169 |  |  | — |  |  | 337 |
Operating expenses: |  |  |  |  |  |  |
Sales and marketing | — |  |  | 141 |  |  | — |  |  | 282 |
Product development | — |  |  | 15 |  |  | — |  |  | 29 |
General and administrative | — |  |  | 9 |  |  | 2 |  |  | 21 |
Total operating expenses | — |  |  | 165 |  |  | 2 |  |  | 332 |
Income (loss) from operations of discontinued operations | — |  |  | 4 |  |  | (2) |  |  | 5 |
Interest and other, net | — |  |  | 1 |  |  | — |  |  | 1 |
Income (loss) from discontinued operations before income taxes | — |  |  | 5 |  |  | (2) |  |  | 6 |
Income tax benefit (provision) | — |  |  | (2) |  |  | — |  |  | (2) |
Income (loss) from discontinued operations, net of income taxes | $ | — |  |  | $ | 3 |  |  | $ | (2) |  |  | $ | 4 |

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