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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 1,230 $ 1,770
Income (loss) from discontinued operations, net of income taxes 4 (5)
Adjustments:    
Provision for transaction losses 219 203
Depreciation and amortization 514 524
Stock-based compensation 376 396
(Gain) loss on sale of business 52 0
(Gain) loss on investments, net 1 (572)
Deferred income taxes 83 81
Change in fair value of warrant (56) (232)
Changes in assets and liabilities, net of acquisition effects (120) (738)
Net cash provided by continuing operating activities 2,303 1,427
Net cash used in discontinued operating activities 0 (2)
Net cash provided by operating activities 2,303 1,425
Cash flows from investing activities:    
Purchases of property and equipment (415) (521)
Purchases of investments (37,401) (16,177)
Maturities and sales of investments 40,483 18,431
Equity investment in Paytm Mall (160) 0
Proceeds from sale of equity investment in Flipkart 0 1,029
Acquisitions, net of cash acquired (93) (302)
Other 15 13
Net cash provided by investing activities 2,429 2,473
Cash flows from financing activities:    
Proceeds from issuance of common stock 59 70
Repurchases of common stock (3,971) (2,991)
Payments for taxes related to net share settlements of restricted stock units and awards (162) (189)
Payments for dividends (360) 0
Repayment of debt (1,550) (750)
Other 1 (27)
Net cash used in financing activities (5,983) (3,887)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (59) (50)
Net increase (decrease) in cash, cash equivalents and restricted cash (1,310) (39)
Cash and cash equivalents at beginning of period 2,219 2,140
Cash, cash equivalents and restricted cash at end of period 909 2,101
Supplemental cash flow disclosures:    
Cash paid for interest 260 268
Cash paid for interest on financial lease obligations 1 0
Cash paid for income taxes 223 569
Noncash investing activities:    
Relinquishment of equity method investment $ 0 $ 266