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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Other current assets, carried at fair value $ 1 $ 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 dollars per share) 637,387,025 616,026,565
Common stock outstanding (in dollars per share) 637,387,025 616,026,565
Cash and cash equivalents $ 1,137 $ 1,731
Restricted cash 654 847
Real estate inventory, net 4,460 6,096
Escrow receivable 30 84
Other current assets 41 91
Assets [1] 6,608 9,506
Accounts payable and other accrued liabilities 110 137
Non-recourse asset-backed debt - current portion 1,376 4,240
Interest payable 12 12
Non-recourse asset-backed debt 3,020 1,862
Total liabilities [2] 5,522 7,258
Variable Interest Entity, Primary Beneficiary    
Cash and cash equivalents 0 9
Restricted cash 636 838
Real estate inventory, net 4,408 6,046
Escrow receivable 29 78
Other current assets 9 35
Assets 5,082 7,006
Accounts payable and other accrued liabilities 61 59
Non-recourse asset-backed debt - current portion 1,376 4,240
Interest payable 11 11
Non-recourse asset-backed debt 3,020 1,862
Total liabilities $ 4,468 $ 6,172
[1] The Company’s consolidated assets at December 31, 2022 and 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, $— and $9; Restricted cash, $636 and $838; Real estate inventory, net, $4,408 and $6,046; Escrow receivable, $29 and $78; Other current assets, $9 and $35; and Total assets of $5,082 and $7,006, respectively.
[2] The Company’s consolidated liabilities at December 31, 2022 and 2021 include the following liabilities for which the VIE creditors do not have recourse to Opendoor: Accounts payable and other accrued liabilities, $61 and $59; Interest payable, $11 and $11; Current portion of non-recourse asset-backed debt, $1,376 and $4,240; Non-recourse asset-backed debt, net of current portion, $3,020 and $1,862; and Total liabilities, $4,468 and $6,172, respectively.