Gain (Loss) on Equity Investments and Warrant, net and Interest and Other, Net

12 Months Ended

Dec. 31, 2022

Nonoperating Income (Expense) [Abstract]

Gain (Loss) on Equity Investments and Warrant, net and Interest and Other, Net

Gain (Loss) on Equity Investments and Warrant, Net and Interest and Other, Net

The following table presents components of gain (loss) on equity investments and warrant, net for the periods indicated (in millions):

	Year Ended December 31,
	2022		2021		2020
Unrealized change in fair value of equity investment in Adevinta	$	(2,693)	$	(3,070)	$	—
Unrealized change in fair value of equity investment in Adyen	(118)		(10)		—
Unrealized change in fair value of equity investment in Gmarket	(294)		(3)		—
Unrealized change in fair value of equity investment in KakaoBank	(218)		403		239
Change in fair value of warrant	(230)		354		770
Realized change in fair value of shares sold in Adevinta (1)	2		9		—
Realized change in fair value of shares sold in Adyen	(143)		—		—
Realized change in fair value of shares sold in KakaoBank	(75)		83		—
Impairment of equity investment in Paytm Mall	—		(160)		—
Gain (loss) on other investments (2)	(17)		29		(2)
Total gain (loss) on equity investments and warrant, net	$	(3,786)	$	(2,365)	$	1,007

(1)Gain (loss) on sale of shares in Adevinta included: (i) in 2022, a $2 million gain on the change in fair value of shares sold; (ii) in 2021, an $88 million gain recognized on the sale of the shares offset by a $79 million loss on the change in fair value of shares sold.

(2)Gain (loss) on other investments primarily included: (i) in 2022, primarily downward adjustments of $13 million recorded on equity investments under the fair value option and $7 million recorded on equity investments without readily determinable fair values; (i) in 2021, primarily a $41 million upward adjustment and a $10 million impairment recorded on equity investments without readily determinable fair values; (ii) in 2020, primarily a $40 million impairment recorded on an investment and a $37 million gain for the receipt of proceeds that were held in escrow related to a long-term investment that was sold in 2018.

The following table presents components of interest and other, net for the periods indicated (in millions):

	Year Ended December 31,
	2022		2021		2020
Interest income	$	73	$	19	$	38
Interest expense	(235)		(269)		(304)
Foreign exchange and other	(3)		90		(32)
Total interest and other, net	$	(165)	$	(160)	$	(298)