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Fair Value Measurement of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis

The following tables present our financial assets and liabilities measured at fair value on a recurring basis as of the dates indicated (in millions):

			March 31, 2025						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Cash, cash equivalents and restricted cash
Cash and cash equivalents			$	3,031					$	3,031					$	—					$	—
Customer accounts (1)			967						967						—						—
Restricted cash included in other current assets			156						156						—						—
Restricted cash included in other assets			2						2						—						—
Total cash, cash equivalents and restricted cash			4,156						4,156						—						—
Derivatives			66						—						51						15
Short-term investments:
Corporate debt securities			1,539						—						1,539						—
Government and agency securities (1)			251						—						251						—
Total short-term investments			1,790						—						1,790						—
Long-term investments:
Corporate debt securities			1,317						—						1,317						—
Government and agency securities			141						—						141						—
Total long-term investments			1,458						—						1,458						—
Total financial assets			$	7,470					$	4,156					$	3,299					$	15
Liabilities:
Derivatives			$	16					$	—					$	16					$	—

(1)As of March 31, 2025, “Customer accounts and funds receivable” in our condensed consolidated balance sheet includes $30 million of fixed-income investments with original maturities greater than three months when purchased, which are disclosed as “Short-term investments” in these notes to the condensed consolidated financial statements.

			December 31, 2024						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Cash, cash equivalents and restricted cash
Cash and cash equivalents			$	2,433					$	2,433					$	—					$	—
Customer accounts			763						763						—						—
Restricted cash included in other current assets			88						88						—						—
Restricted cash included in other assets			2						2						—						—
Total cash, cash equivalents and restricted cash			3,286						3,286						—						—
Derivatives			97						—						82						15
Short-term investments:
Corporate debt securities			3,094						—						3,094						—
Government and agency securities			363						—						363						—
Total short-term investments			3,457						—						3,457						—
Long-term investments:
Corporate debt securities			1,119						—						1,119						—
Government and agency securities			190						—						190						—
Total long-term investments			1,309						—						1,309						—
Total financial assets			$	8,149					$	3,286					$	4,848					$	15
Liabilities:
Derivatives			$	18					$	—					$	18					$	—

Schedule of Assets Measured Using Significant Unobservable Inputs

The following table presents a reconciliation of the opening to closing balance of the Adyen warrant measured using significant unobservable inputs (Level 3) as of the dates indicated (in millions):

			December 31, 2024
Opening balance at January 1, 2024			$	364
Change in fair value			158
Exercise of options under warrant			(522)
Closing balance at December 31, 2024			$	—

The following table presents a reconciliation of the opening to closing balance of the equity investment in Gmarket measured using significant unobservable inputs (Level 3) as of the dates indicated (in millions):

			December 31, 2024
Opening balance at January 1, 2024			$	335
Change in fair value			(12)
Fair value of shares sold			(323)
Closing balance at December 31, 2024			$	—

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 101
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-101

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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