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Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Financial results of discontinued operations
The following table presents financial results from discontinued operations, net of income taxes in our condensed consolidated statement of income for the periods indicated (in millions):
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 20212020
2021 (1)
2020 (2)
eBay Korea income (loss) from discontinued operations, net of income taxes$(1)$16 $3 $46 
Classifieds income (loss) from discontinued operations, net of income taxes(18)47 10,482 132 
StubHub income (loss) from discontinued operations, net of income taxes
— (4)9 2,931 
PayPal and Enterprise income (loss) from discontinued operations, net of income taxes— — — (2)
Income (loss) from discontinued operations, net of income taxes$(19)$59 $10,494 $3,107 
(1) Includes Classifieds financial results through the transaction close on June 24, 2021 and includes the gain on sale recorded for the Classifieds transaction.
(2) Includes StubHub financial results from January 1, 2020 to February 13, 2020 and includes the gain on sale recorded for the StubHub transaction.
The following table presents cash flows for discontinued operations for the periods indicated (in millions):
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 20212020
2021 (1)
2020 (2)
eBay Korea net cash provided by (used in) discontinued operating activities
$22 $70 $29 $89 
Classifieds net cash provided by (used in) discontinued operating activities
(428)137 (283)256 
StubHub net cash provided by (used in) discontinued operating activities— (748)— (858)
Net cash provided by (used in) discontinued operating activities$(406)$(541)$(254)$(513)
eBay Korea net cash (used in) discontinued investing activities
$(1)$(8)$(10)$(18)
Classifieds net cash provided by (used in) discontinued investing activities
— (7)2,453 (51)
StubHub net cash provided by (used in) discontinued investing activities— — — 4,075 
Net cash provided by (used in) discontinued investing activities $(1)$(15)$2,443 $4,006 
eBay Korea net cash provided by (used in) discontinued financing activities
$64 $(2)$2 $(7)
Classifieds net cash provided by (used in) discontinued financing activities
— — — (2)
Net cash provided by (used in) discontinued financing activities$64 $(2)$2 $(9)
(1) Includes Classifieds financial results through the transaction close on June 24, 2021 and includes the gain on sale recorded for the Classifieds transaction.
(2) Includes StubHub financial results from January 1, 2020 to February 13, 2020 and includes the gain on sale recorded for the StubHub transaction.


The financial results of StubHub are presented as income from discontinued operations, net of income taxes on our condensed consolidated statement of income. The following table presents the financial results of StubHub (in millions):
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 202120202021
2020(1)
Net revenues$— $— $— $100 
Cost of net revenues— — — 31 
Gross profit— — — 69 
Operating expenses:
Sales and marketing— — — 51 
Product development— (2)— 27 
General and administrative— — — 33 
Provision for transaction losses— — — 3 
Amortization of acquired intangible assets— — — 1 
Total operating expenses— (2)— 115 
Income (loss) from operations of discontinued operations— 2 — (46)
Pre-tax gain (loss) on sale— (8)12 3,868 
Income (loss) from discontinued operations before income taxes— (6)12 3,822 
Income tax benefit (provision)— 2 (3)(891)
Income (loss) from discontinued operations, net of income taxes$— $(4)$9 $2,931 
(1) Includes StubHub financial results from January 1, 2020 to February 13, 2020 and includes the gain on sale recorded for the StubHub transaction.

The financial results of Classifieds are presented as income from discontinued operations, net of income taxes on our condensed consolidated statement of income through June 24, 2021, when the transfer of Classifieds was completed. Each period presented below includes the impact of intercompany revenue agreements through June 24, 2021. The impact of these intercompany revenue agreements to net revenues and cost of net revenues was $5 million for the nine months ended September 30, 2021, and $2 million and $9 million for the three and nine months ended September 30, 2020, respectively. Subsequent to the transfer of the Classifieds business, revenue agreements between Adevinta and eBay will continue for a term of three years with an option to extend for twelve months. The expected continuing revenue and cash flows are not considered to be material. The following table presents the financial results of Classifieds for the periods indicated (in millions):
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 20212020
2021 (1)
2020
Net revenues$— $263 $565 $705 
Cost of net revenues— 27 63 76 
Gross profit— 236 502 629 
Operating expenses:
Sales and marketing— 72 183 220 
Product development— 44 105 118 
General and administrative9 36 76 98 
Provision for transaction losses— 3 2 13 
Amortization of acquired intangible assets— 2 — 6 
Total operating expenses9 157 366 455 
Income (loss) from operations of discontinued operations(9)79 136 174 
Interest and other, net— (1)— 1 
Pre-tax gain (loss) on sale— — 12,524 — 
Income (loss) from discontinued operations before income taxes(9)78 12,660 175 
Income tax provision(9)(31)(2,178)(43)
Income (loss) from discontinued operations, net of income taxes$(18)$47 $10,482 $132 
(1) Includes Classifieds financial results through the transaction close on June 24, 2021 and includes the gain on sale recorded for the Classifieds transaction.


The financial results of eBay Korea are presented as income from discontinued operations, net of income taxes on our condensed consolidated statement of income. The following table presents the financial results of eBay Korea (in millions):
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2021202020212020
Net revenues$374 $348 $1,157 $987 
Cost of net revenues217 178 663 482 
Gross profit157 170 494 505 
Operating expenses:
Sales and marketing136 132 418 390 
Product development14 16 43 43 
General and administrative8 5 29 13 
Provision for transaction losses— — — — 
Total operating expenses158 153 490 446 
Income (loss) from operations of discontinued operations(1)17 4 59 
Interest and other, net1 1 2 1 
Income (loss) from discontinued operations before income taxes— 18 6 60 
Income tax benefit (provision)(1)(2)(3)(14)
Income (loss) from discontinued operations, net of income taxes$(1)$16 $3 $46 
The following table presents the aggregate carrying amounts of assets and liabilities of discontinued operations for Classifieds in the condensed consolidated balance sheet (in millions):
 December 31, 2020
Carrying amounts of assets included as part of discontinued operations:
Cash and cash equivalents$23 
Accounts receivable, net117 
Other current assets30 
Long-term investments32 
Property and equipment, net31 
Goodwill465 
Intangible assets, net35 
Operating lease right-of-use assets20 
Deferred tax assets435 
Total assets classified as discontinued operations in the condensed consolidated balance sheet$1,188 
Carrying amounts of liabilities included as part of discontinued operations:
Accounts payable$18 
Accrued expenses and other current liabilities104 
Deferred revenue4 
Income taxes payable35 
Operating lease liabilities11 
Deferred tax liabilities278 
Other liabilities2 
Total liabilities classified as discontinued operations in the condensed consolidated balance sheet
$452 
The following table presents the aggregate carrying amounts of held for sale assets and liabilities related to eBay Korea in the condensed consolidated balance sheet as of the dates indicated (in millions):
 September 30,
2021		December 31,
2020
Carrying amounts of assets included as part of held for sale:
Cash and cash equivalents$352 $327 
Short-term investments— 6 
Accounts receivable, net54 50 
Customer accounts and funds receivable542 649 
Other current assets87 45 
Property and equipment, net63 66 
Goodwill376 390 
Operating lease right-of-use assets61 79 
Deferred tax assets22 — 
Other assets13 14 
Total assets classified as held for sale in the condensed consolidated balance sheet$1,570 $1,626 
Carrying amounts of liabilities included as part of held for sale:
Short-term debt$8 $12 
Accounts payable64 54 
Customer accounts and funds payable578 673 
Accrued expenses and other current liabilities77 91 
Deferred revenue10 12 
Income taxes payable120 13 
Operating lease liabilities46 64 
Deferred tax liabilities22 (9)
Long-term debt— 5 
Other liabilities5 3 
Total liabilities classified as held for sale in the condensed consolidated balance sheet
$930 $918