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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:        
Net income $ 264 $ 664 $ 11,639 $ 4,822
Income from discontinued operations, net of income taxes 19 (59) (10,494) (3,107)
Adjustments:        
Provision for transaction losses 112 60 303 245
Depreciation and amortization     380 452
Stock-based compensation     365 301
(Gain) loss on investments, net     (39) 1
Deferred income taxes     41 177
Change in fair value of warrant     (383) (496)
(Gain) loss on extinguishment of debt     10 0
Changes in assets and liabilities, net of acquisition effects     (106) (221)
Net cash provided by continuing operating activities     2,618 2,174
Net cash used in discontinued operating activities (406) (541) (254) (513)
Net cash provided by operating activities     2,364 1,661
Cash flows from investing activities:        
Purchases of property and equipment     (341) (308)
Purchases of investments     (15,103) (28,897)
Maturities and sales of investments     13,866 28,740
Other     13 39
Net cash used in continuing investing activities     (1,565) (426)
Net cash provided by discontinued investing activities (1) (15) 2,443 4,006
Net cash provided by (used in) investing activities     878 3,580
Cash flows from financing activities:        
Proceeds from issuance of common stock     57 55
Repurchases of common stock     (3,966) (4,710)
Payments for taxes related to net share settlements of restricted stock units and awards     (186) (131)
Payments for dividends (116) (111) (359) (337)
Proceeds from issuance of long-term debt, net     2,478 1,765
Repayment of debt     (1,156) (1,771)
Net funds receivable and payable activity     (109) 0
Other     (6) (5)
Net cash used in continuing financing activities     (3,247) (5,134)
Net cash provided by (used in) discontinued financing activities 64 (2) 2 (9)
Net cash used in financing activities     (3,245) (5,143)
Effect of exchange rate changes on cash, cash equivalents and restricted cash     30 25
Net increase in cash, cash equivalents and restricted cash     27 123
Cash, cash equivalents and restricted cash at beginning of period     1,594 996
Cash, cash equivalents and restricted cash at end of period 1,621 1,119 1,621 1,119
Cash, cash equivalents and restricted cash of continuing operations at end of period 1,269 811 1,269 811
Supplemental cash flow disclosures:        
Cash paid for interest     203 243
Cash paid for income taxes     435 355
Discontinued Operations, Held-for-sale        
Cash flows from financing activities:        
Less: Cash, cash equivalents and restricted cash of discontinued operations 352 278 352 278
Discontinued Operations, Disposed of by Sale        
Cash flows from financing activities:        
Less: Cash, cash equivalents and restricted cash of discontinued operations 0 $ 30 0 30
Adevinta        
Adjustments:        
Change in fair value of equity investment in Adevinta $ 1,075   1,497 0
Non-cash investing activities:        
Equity investment in Adevinta     10,776 0
KakaoBank        
Adjustments:        
Gain on equity investment in KakaoBank     $ (595) $ 0