Balance Sheet Components

3 Months Ended

Mar. 31, 2021

Contract Balances

Timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable represents amounts invoiced and revenue recognized prior to invoicing when we have satisfied our performance obligation and have the unconditional right to payment. The allowance for doubtful accounts and authorized credits is estimated based upon our assessment of various factors including historical experience, the age of the accounts receivable balances, current economic conditions reasonable and supportable forecasts, and other factors that may affect our customers’ ability to pay. The allowance for doubtful accounts and authorized credits was $129 million and $136 million as of March 31, 2021 and December 31, 2020, respectively. As of March 31, 2021, we reported allowances for doubtful accounts of $86 million reflecting a decrease of $11 million, net of write-offs of $38 million for the three months ended March 31, 2021.

Deferred revenue consists of fees received related to unsatisfied performance obligations at the end of the period. Due to the generally short-term duration of contracts, the majority of the performance obligations are satisfied in the following reporting period. The amount of revenue recognized for the three month period ended March 31, 2021 that was included in the deferred revenue balance at the beginning of the period was $55 million. The amount of revenue recognized for the three month period ended March 31, 2020 that was included in the deferred revenue balance at the beginning of the period was $75 million.

Cash, cash equivalents and restricted cash


	March 31, 2021		December 31, 2020
Cash and cash equivalents	$	1,667	$	1,428
Customer accounts	—		—
Restricted cash included in short-term investments	23		143
Cash, cash equivalents and restricted cash	$	1,690	$	1,571

Customer accounts and funds receivable


	March 31, 2021		December 31, 2020
Cash and cash equivalents	$	—	$	—
Funds receivable	1,016		939
Customer accounts and funds receivable	$	1,016	$	939