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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 2,239 $ 1,731
Restricted cash 615 847
Marketable securities 233 484
Escrow receivable 56 84
Real estate inventory, net 6,628 6,096
Other current assets ($2 and $4 carried at fair value) 162 91
Total current assets 9,945 9,340
PROPERTY AND EQUIPMENT – Net 54 45
RIGHT OF USE ASSETS 43 42
GOODWILL 60 60
INTANGIBLES – Net 7 12
OTHER ASSETS 27 7
TOTAL ASSETS [1] 10,136 9,506
CURRENT LIABILITIES:    
Accounts payable and other accrued liabilities 215 137
Non-recourse asset-backed debt - current portion 3,362 4,240
Other secured borrowings 12 7
Interest payable 10 12
Lease liabilities - current portion 7 4
Total current liabilities 3,606 4,400
NON-RECOURSE ASSET-BACKED DEBT – Net of current portion 3,176 1,862
CONVERTIBLE SENIOR NOTES 956 954
LEASE LIABILITIES – Net of current portion 42 42
Total liabilities [2] 7,780 7,258
Commitments and contingencies
SHAREHOLDERS’ EQUITY:    
Common stock, $0.0001 par value; 3,000,000,000 shares authorized; 627,033,133 and 616,026,565 shares issued, respectively; 627,033,133 and 616,026,565 shares outstanding, respectively 0 0
Additional paid-in capital 4,092 3,955
Accumulated deficit (1,731) (1,705)
Accumulated other comprehensive (loss) income (5) (2)
Total shareholders’ equity 2,356 2,248
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 10,136 9,506
Asset Pledged as Collateral with Right    
CURRENT ASSETS:    
Mortgage loans held for sale pledged under agreements to repurchase $ 12 $ 7
[1] The Company’s consolidated assets at June 30, 2022 and December 31, 2021 include the following assets of certain variable interest entities (“VIEs”) that can only be used to settle the liabilities of those VIEs: Cash and cash equivalents, $7 and $9; Restricted cash, $606 and $838; Real estate inventory, net, $6,454 and $6,046; Escrow receivable, $55 and $78; Other current assets, $94 and $35; and Total assets of $7,216 and $7,006, respectively.
[2] The Company’s consolidated liabilities at June 30, 2022 and December 31, 2021 include the following liabilities for which the VIE creditors do not have recourse to Opendoor: Accounts payable and other accrued liabilities, $64 and $59; Interest payable, $9 and $11; Current portion of non-recourse asset-backed debt, $3,362 and $4,240; Non-recourse asset-backed debt, net of current portion, $3,176 and $1,862; and Total liabilities, $6,611 and $6,172, respectively.