Supplemental Consolidated Financial Information

12 Months Ended

Dec. 31, 2022

Supplemental Consolidated Financial Information

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 $42 million and $74 million as of December 31, 2022 and December 31, 2021, respectively. As of December 31, 2022, we reported allowances for doubtful accounts of $16 million reflecting a decrease of $26 million, net of write-offs of $42 million for the year ended December 31, 2022.

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 during the year ended December 31, 2022 that was included in the deferred revenue balance at the beginning of the period was $38 million. The amount of revenue recognized during the year ended December 31, 2021 that was included in the deferred revenue balance at the beginning of the period was $47 million.

Cash, cash equivalents and restricted cash


	December 31,
	2022		2021
	(In millions)
Cash and cash equivalents	$	2,154	$	1,379
Customer accounts	69		5
Restricted cash included in short-term investments	36		22
Restricted cash included in long-term investments	13		—
Cash, cash equivalents and restricted cash	$	2,272	$	1,406

Customer accounts and funds receivable


	December 31,
	2022		2021
	(In millions)
Cash and cash equivalents	$	69	$	5
Funds receivable	694		676
Customer accounts and funds receivable	$	763	$	681

Other Current Assets


	December 31,
	2022		2021
	(In millions)
Payment processor advances	$	336	$	453
Short-term derivative assets	112		86
Prepaid expenses	120		114
Income and other tax receivable	122		108
Accounts receivable, net	90		98
Other	276		248
Other current assets	$	1,056	$	1,107

Property and Equipment, Net


	December 31,
	2022		2021
	(In millions)
Computer equipment and software	$	4,903	$	4,747
Land and buildings, including building improvements	792		779
Leasehold improvements	379		356
Furniture and fixtures	138		140
Construction in progress and other	141		77
Property and equipment, gross	6,353		6,099
Accumulated depreciation	(5,115)		(4,863)
Property and equipment, net	$	1,238	$	1,236

Total depreciation expense on our property and equipment for the years ended December 31, 2022, 2021 and 2020 totaled $442 million, $485 million and $560 million, respectively.

Accrued Expenses and Other Current Liabilities


	December 31,
	2022		2021
	(In millions)
Compensation and related benefits	$	426	$	517
Sales and use tax and VAT accruals	346		396
Advertising accruals	229		172
Operating lease liabilities	131		150
Transaction loss reserve	101		116
Uninvoiced general and administrative expenses	111		95
Accrued interest expense	67		74
Deferred revenue	34		79
Other	421		328
Accrued expenses and other current liabilities	$	1,866	$	1,927