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Segments
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segments Segments
We have one reportable segment, which reflects how the chief operating decision maker (“CODM”), the Company’s President and Chief Executive Officer, reviews and assesses performance of the business. The CODM assesses the performance of the Company and decides how to allocate resources based on consolidated net income reported in the condensed consolidated statement of income. The CODM uses consolidated net income in deciding whether to reinvest profits into certain parts of the business or return a portion of such profits to shareholders through dividends and stock repurchases. Significant expense categories regularly provided to and reviewed by the CODM are those presented in the condensed consolidated statement of income. The measure of segment assets is reported on the condensed consolidated balance sheet as total assets, although the CODM does not evaluate asset information for purposes of allocating resources or evaluating performance.

Net Revenues

The following table summarizes net revenues by activity for the periods indicated (in millions):
 Three Months Ended
March 31,
 20252024
Marketplace revenues
$2,143 $2,172 
Advertising revenues
442 384 
Total net revenues
$2,585 $2,556 

Net Revenues by Geography

Net revenues, inclusive of the effects of foreign exchange during each period, are attributed to the United States and international geographies primarily based upon the country in which the seller is located.

The following table summarizes the allocation of net revenues based on geography for the periods indicated (in millions):
 Three Months Ended
March 31,
 20252024
United States
$1,346 $1,302 
United Kingdom331 390 
China297 275 
Germany230 242 
Rest of world381 347 
Total net revenues$2,585 $2,556