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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Statement of Financial Position [Abstract]    
Other current assets, carried at fair value $ 0 $ 1
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 shares) 657,337,566 637,387,025
Common stock outstanding (in dollars per shares) 657,337,566 637,387,025
Cash and cash equivalents $ 1,120 $ 1,137
Restricted cash 1,684 654
Real estate inventory, net 1,149 4,460
Escrow receivable 13 30
Other current assets 37 41
Assets [1] 4,223 6,608
Accounts payable and other accrued liabilities 65 110
Interest payable 1 12
Non-recourse asset-backed debt - current portion 15 1,376
NON-RECOURSE ASSET-BACKED DEBT – Net of current portion 2,527 3,020
Liabilities [2] 3,137 5,522
Variable Interest Entity, Primary Beneficiary    
Cash and cash equivalents 1 0
Restricted cash 1,663 636
Real estate inventory, net 1,068 4,408
Escrow receivable 12 29
Other current assets 7 9
Assets 2,751 5,082
Accounts payable and other accrued liabilities 21 61
Interest payable 1 11
Non-recourse asset-backed debt - current portion 15 1,376
NON-RECOURSE ASSET-BACKED DEBT – Net of current portion 2,527 3,020
Liabilities $ 2,564 $ 4,468
[1] The Company’s consolidated assets at June 30, 2023 and December 31, 2022 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, $1 and $—;Restricted cash, $1,663 and $636; Real estate inventory, net, $1,068 and $4,408; Escrow receivable, $12 and $29; Other current assets, $7 and $9; and Total assets of $2,751 and $5,082, respectively.
[2] The Company’s consolidated liabilities at June 30, 2023 and December 31, 2022 include the following liabilities for which the VIE creditors do not have recourse to Opendoor: Accounts payable and other accrued liabilities, $21 and $61; Interest payable, $1 and $11; Current portion of non-recourse asset-backed debt, $15 and $1,376; Non-recourse asset-backed debt, net of current portion, $2,527 and $3,020; and Total liabilities, $2,564 and $4,468, respectively.