Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Financial results of discontinued operations

Discontinued operations

The following table presents financial results from discontinued operations, net of income taxes in our consolidated statement of income for the periods indicated (in millions):

	Year ended December 31,
	2022		2021 (1)(2)		2020 (3)
eBay Korea income (loss) from discontinued operations, net of income taxes	$	—	$	2,870	$	55
Classifieds income (loss) from discontinued operations, net of income taxes	5		10,485		197
StubHub income (loss) from discontinued operations, net of income taxes	—		1		2,930
PayPal and Enterprise income (loss) from discontinued operations, net of income taxes	—		—		(2)
Income (loss) from discontinued operations, net of income taxes	$	5	$	13,356	$	3,180

(1)Includes eBay Korea financial results through the transaction close on November 14, 2021 and the related gain on sale.

(2)Includes Classifieds financial results through the transaction close on June 24, 2021 and the related gain on sale.

(3)Includes StubHub financial results from January 1, 2020 to February 13, 2020 and the related gain on sale.

The following table presents cash flows for discontinued operations for the periods indicated (in millions):

	Year ended December 31,
	2022		2021 (1)(2)		2020 (3)
eBay Korea net cash provided by (used in) discontinued operating activities	$	(370)	$	(25)	$	142
Classifieds net cash provided by (used in) discontinued operating activities	(3)		(411)		328
StubHub net cash provided by (used in) discontinued operating activities	—		—		(1,055)
Net cash provided by (used in) discontinued operating activities	$	(373)	$	(436)	$	(585)
eBay Korea net cash provided by (used in) discontinued investing activities	$	2	$	2,611	$	(40)
Classifieds net cash provided by (used in) discontinued investing activities	—		2,469		(54)
StubHub net cash provided by (used in) discontinued investing activities	—		—		4,067
Net cash provided by (used in) discontinued investing activities	$	2	$	5,080	$	3,973
eBay Korea net cash provided by (used in) discontinued financing activities	$	—	$	25	$	(10)
Classifieds net cash provided by (used in) discontinued financing activities	—		—		(2)
Net cash provided by (used in) discontinued financing activities	$	—	$	25	$	(12)

(1)Includes eBay Korea financial results through the transaction close on November 14, 2021 and the related gain on sale.

(2)Includes Classifieds financial results through the transaction close on June 24, 2021 and the related gain on sale.

(3)Includes StubHub financial results from January 1, 2020 to February 13, 2020 and the related gain on sale.

The following table presents the financial results of eBay Korea (in millions):

	Year ended December 31,
	2022		2021 (1)		2020
Net revenues	$	—	$	1,409	$	1,377
Cost of net revenues	—		815		676
Gross profit	—		594		701
Operating expenses:
Sales and marketing	—		529		548
Product development	—		64		59
General and administrative	—		38		18
Provision for transaction losses	—		—		1
Total operating expenses	—		631		626
Income (loss) from operations of discontinued operations	—		(37)		75
Interest and other, net	—		2		—
Pre-tax gain on sale	—		3,240		—
Income (loss) from discontinued operations before income taxes	—		3,205		75
Income tax benefit (provision)	—		(335)		(20)
Income (loss) from discontinued operations, net of income taxes	$	—	$	2,870	$	55

(1)Includes eBay Korea financial results through the transaction close on November 14, 2021 and the related gain on sale.

The following table presents the financial results of Classifieds (in millions):

	Year ended December 31,
	2022		2021 (1)		2020
Net revenues	$	—	$	565	$	980
Cost of net revenues	—		63		103
Gross profit	—		502		877
Operating expenses:
Sales and marketing	—		183		286
Product development	—		105		161
General and administrative	(7)		76		124
Provision for transaction losses	—		2		17
Amortization of acquired intangible assets	—		—		6
Total operating expenses	(7)		366		594
Income from operations of discontinued operations	7		136		283
Interest and other, net	—		—		—
Pre-tax gain on sale	—		12,534		—
Income from discontinued operations before income taxes	7		12,670		283
Income tax provision	(2)		(2,185)		(86)
Income from discontinued operations, net of income taxes	$	5	$	10,485	$	197

(1)Includes Classifieds financial results through the transaction close on June 24, 2021 and the related gain on sale.

The financial results of StubHub are presented as income from discontinued operations, net of income taxes on our consolidated statement of income. The following table presents the financial results of StubHub (in millions):

	Year ended December 31,
	2022		2021		2020 (1)
Net revenues	$	—	$	—	$	100
Cost of net revenues	—		—		31
Gross profit	—		—		69
Operating expenses:
Sales and marketing	—		—		51
Product development	—		—		26
General and administrative	—		1		30
Provision for transaction losses	—		—		3
Amortization of acquired intangible assets	—		—		1
Total operating expenses	—		1		111
Income (loss) from operations of discontinued operations	—		(1)		(42)
Pre-tax gain on sale	—		12		3,868
Income from discontinued operations before income taxes	—		11		3,826
Income tax provision	—		(10)		(896)
Income from discontinued operations, net of income taxes	$	—	$	1	$	2,930

(1)Includes StubHub financial results from January 1, 2020 to February 13, 2020 and the related gain on sale.