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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
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 shares) 677,636,163 637,387,025
Common stock outstanding (in shares) 677,636,163 637,387,025
Restricted cash $ 541 $ 654
Real estate inventory, net 1,775 4,460
Escrow receivable 9 30
Other current assets 52 41
Assets [1] 3,567 6,608
Accounts payable and other accrued liabilities 64 110
Non-recourse asset-backed debt - current portion 0 1,376
Interest payable 1 12
Non-recourse asset-backed debt 2,134 3,020
Total liabilities [2] 2,600 5,522
Variable Interest Entity, Primary Beneficiary    
Restricted cash 530 636
Real estate inventory, net 1,735 4,408
Escrow receivable 8 29
Other current assets 10 9
Assets 2,283 5,082
Accounts payable and other accrued liabilities 28 61
Non-recourse asset-backed debt - current portion 0 1,376
Interest payable 1 11
Non-recourse asset-backed debt 2,134 3,020
Total liabilities $ 2,163 $ 4,468
[1] The Company’s consolidated assets at December 31, 2023 and 2022 include the following assets of certain variable interest entities (“VIEs”) that can only be used to settle the liabilities of those VIEs: Restricted cash, $530 and $636; Real estate inventory, net, $1,735 and $4,408; Escrow receivable, $8 and $29; Other current assets, $10 and $9; and Total assets of $2,283 and $5,082, respectively.
[2] The Company’s consolidated liabilities at December 31, 2023 and 2022 include the following liabilities for which the VIE creditors do not have recourse to Opendoor: Accounts payable and other accrued liabilities, $28 and $61; Interest payable, $1 and $11; Current portion of non-recourse asset-backed debt, $— and $1,376; Non-recourse asset-backed debt, net of current portion, $2,134 and $3,020; and Total liabilities, $2,163 and $4,468, respectively.