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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:        
Net income (loss) $ (531) $ 10,734 $ (1,872) $ 11,375
Income (loss) from discontinued operations, net of income taxes (5) (10,440) (3) (10,513)
Adjustments:        
Provision for transaction losses 86 103 182 191
Depreciation and amortization     231 261
Stock-based compensation     248 238
Loss (gain) on investments and other, net     7 (44)
Deferred income taxes     (695) 106
Change in fair value of warrant 104 (108) 219 (72)
Loss (gain) on extinguishment of debt     0 10
Changes in assets and liabilities, net of acquisition effects     (398) (17)
Net cash provided by continuing operating activities     1,206 1,957
Net cash provided by (used in) discontinued operating activities (349) 58 (365) 152
Net cash provided by operating activities     841 2,109
Cash flows from investing activities:        
Purchases of property and equipment     (194) (182)
Purchases of investments     (10,146) (9,676)
Maturities and sales of investments     13,181 6,765
Other     (44) 4
Net cash provided by (used in) continuing investing activities     3,764 (3,089)
Net cash provided by (used in) discontinued investing activities 0 2,446 0 2,444
Net cash provided by (used in) investing activities     3,764 (645)
Cash flows from financing activities:        
Proceeds from issuance of common stock     55 57
Repurchases of common stock     (2,542) (1,733)
Payments for taxes related to net share settlements of restricted stock units and awards     (98) (128)
Payments for dividends (121) (121) (250) (243)
Proceeds from issuance of long-term debt, net     0 2,482
Repayment of debt     (1,355) (1,156)
Net funds receivable and payable activity     8 30
Other     0 6
Net cash used in continuing financing activities     (4,182) (685)
Net cash provided by (used in) discontinued financing activities 0 6 0 (62)
Net cash used in financing activities     (4,182) (747)
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (57) (5)
Net increase in cash, cash equivalents and restricted cash     366 712
Cash, cash equivalents and restricted cash at beginning of period     1,406 1,594
Cash, cash equivalents and restricted cash at end of period 1,772 2,306 1,772 2,306
Cash, cash equivalents and restricted cash of continuing operations at end of period 1,772 2,144 1,772 2,144
Cash paid for:        
Interest     134 121
Income taxes     282 313
Non-cash investing activities:        
Equity investment in Adevinta     0 10,776
Discontinued Operations, Disposed of by Sale        
Cash flows from financing activities:        
Less: Cash, cash equivalents and restricted cash of discontinued operations 0 162 0 162
Adevinta        
Adjustments:        
Change in fair value of equity investment 829 422 2,472 422
Gmarket        
Adjustments:        
Change in fair value of equity investment 77 0 259 0
KakaoBank        
Adjustments:        
Change in fair value of equity investment 105 0 196 0
Realized change in fair value of shares sold 67 0 75 0
Cash flows from investing activities:        
Proceeds from the sale of shares in KakaoBank     287 0
Adyen        
Adjustments:        
Change in fair value of equity investment 38 0 118 0
Realized change in fair value of shares sold $ 1 $ 0 167 0
Cash flows from investing activities:        
Proceeds from the sale of shares in Adyen     $ 680 $ 0