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Discontinued Operations (Tables)
6 Months Ended
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$$10,428 $$10,500 
eBay Korea income (loss) from discontinued operations, net of income taxes— (2)
StubHub income from discontinued operations, net of income taxes
— — 
Income (loss) from discontinued operations, net of income taxes$$10,440 $$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)$145 
eBay Korea net cash provided by (used in) discontinued operating activities
(349)17 (364)
Net cash provided by (used in) discontinued operating activities$(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
$— $$— $(62)
Net cash provided by (used in) discontinued financing activities$— $$— $(62)
(1) Includes Classifieds financial results through the transaction close on June 24, 2021 and includes the gain on sale recorded for the Classifieds transaction.
The following table presents the financial results of Classifieds for the periods indicated (in millions):
 Three Months Ended
June 30,
Six Months Ended
June 30,
 2022
2021 (1)
2022
2021 (1)
Net revenues$— $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— — — 
Total operating expenses(7)198 (7)357 
Income (loss) from operations of discontinued operations58 145 
Interest and other, net— (1)— — 
Pre-tax gain on sale— 12,524 — 12,524 
Income (loss) from discontinued operations before income taxes12,581 12,669 
Income tax provision(2)(2,153)(2)(2,169)
Income (loss) from discontinued operations, net of income taxes$$10,428 $$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,
 2022202120222021
Net revenues$— $398 $— $783 
Cost of net revenues— 229 — 446 
Gross profit— 169 — 337 
Operating expenses:
Sales and marketing— 141 — 282 
Product development— 15 — 29 
General and administrative— 21 
Total operating expenses— 165 332 
Income (loss) from operations of discontinued operations— (2)
Interest and other, net— — 
Income (loss) from discontinued operations before income taxes— (2)
Income tax benefit (provision)— (2)— (2)
Income (loss) from discontinued operations, net of income taxes$— $$(2)$