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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
Statement of Financial Position [Abstract]    
Other current assets, carried at fair value $ 2 $ 4
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock authorized (in shares) 3,000,000,000 3,000,000,000
Common stock issued (in shares) 627,033,133 616,026,565
Common stock outstanding (in shares) 627,033,133 616,026,565
Cash and cash equivalents $ 2,239 $ 1,731
Restricted cash 615 847
Real estate inventory, net 6,628 6,096
Escrow receivable 56 84
Other current assets 162 91
Assets [1] 10,136 9,506
Accounts payable and other accrued liabilities 215 137
Interest payable 10 12
Non-recourse asset-backed debt - current portion 3,362 4,240
NON-RECOURSE ASSET-BACKED DEBT – Net of current portion 3,176 1,862
Liabilities [2] 7,780 7,258
Variable Interest Entity, Primary Beneficiary    
Cash and cash equivalents 7 9
Restricted cash 606 838
Real estate inventory, net 6,454 6,046
Escrow receivable 55 78
Other current assets 94 35
Assets 7,216 7,006
Accounts payable and other accrued liabilities 64 59
Interest payable 9 11
Non-recourse asset-backed debt - current portion 3,362 4,240
NON-RECOURSE ASSET-BACKED DEBT – Net of current portion 3,176 1,862
Liabilities $ 6,611 $ 6,172
[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.