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

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
Unrealized change in fair value of equity investment in Adevinta	$	1,782	$	(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	(96)		(294)		(3)
Unrealized change in fair value of equity investment in KakaoBank	(11)		(218)		403
Change in fair value of warrant	150		(230)		354
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	13		(75)		83
Impairment of equity investment in Paytm Mall	—		—		(160)
Gain (loss) on other investments (2)	(6)		(17)		29
Total gain (loss) on equity investments and warrant, net	$	1,832	$	(3,786)	$	(2,365)

(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.

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

	Year Ended December 31,
	2023		2022		2021
Interest income	$	204	$	73	$	19
Foreign exchange and other	(7)		(3)		90
Total interest income and other, net	$	197	$	70	$	109