Investments (Tables)

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Cash and Cash Equivalents

The following table reconciles cash, cash equivalents, and restricted cash reported on the Company’s condensed consolidated balance sheets to the total amount presented in the condensed consolidated statements of cash flows (in thousands):

	December 31, 2021		September 30, 2022
Cash and cash equivalents	$	6,067,438	$	7,523,688
Cash and cash equivalents included in funds receivable and amounts held on behalf of customers	3,645,087		4,734,174
Restricted cash	14,764		1,520
Total cash, cash equivalents, and restricted cash presented in the condensed consolidated statements of cash flows	$	9,727,289	$	12,259,382

The following tables summarize the amortized cost, gross unrealized gains and losses, and fair value of the Company’s available-for-sale debt securities aggregated by investment category (in thousands):

	December 31, 2021								Classification as of December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Total Estimated Fair Value		Cash and Cash Equivalents		Marketable Securities		Other Assets, Noncurrent
Certificates of deposit	$	395,351	$	—	$	—	$	395,351	$	31,117	$	364,234	$	—
Government bonds(1)	850		13		—		863		—		863		—
Commercial paper	1,156,963		—		—		1,156,963		163,959		993,004		—
Corporate debt securities	917,718		220		(3,147)		914,791		41,439		862,901		10,451
Mortgage-backed and asset-backed securities	34,019		338		(321)		34,036		—		34,036		—
Total	$	2,504,901	$	571	$	(3,468)	$	2,502,004	$	236,515	$	2,255,038	$	10,451

(1)Includes U.S. government and government agency debt securities

	September 30, 2022								Classification as of September 30, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Total Estimated Fair Value		Cash and Cash Equivalents		Marketable Securities		Other Assets, Noncurrent
Certificates of deposit	$	599,030	$	—	$	—	$	599,030	$	6,925	$	592,105	$	—
Government bonds(1)	19,638		—		(158)		19,480		—		19,480		—
Commercial paper	987,520		—		—		987,520		277,582		709,938		—
Corporate debt securities	776,741		73		(10,778)		766,036		10,389		745,235		10,412
Mortgage-backed and asset-backed securities	24,941		1		(3,458)		21,484		—		21,484		—
Total	$	2,407,870	$	74	$	(14,394)	$	2,393,550	$	294,896	$	2,088,242	$	10,412

(1)Includes U.S. government and government agency debt securities

Debt Securities, Available-for-sale

The following tables summarize the amortized cost, gross unrealized gains and losses, and fair value of the Company’s available-for-sale debt securities aggregated by investment category (in thousands):

	December 31, 2021								Classification as of December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Total Estimated Fair Value		Cash and Cash Equivalents		Marketable Securities		Other Assets, Noncurrent
Certificates of deposit	$	395,351	$	—	$	—	$	395,351	$	31,117	$	364,234	$	—
Government bonds(1)	850		13		—		863		—		863		—
Commercial paper	1,156,963		—		—		1,156,963		163,959		993,004		—
Corporate debt securities	917,718		220		(3,147)		914,791		41,439		862,901		10,451
Mortgage-backed and asset-backed securities	34,019		338		(321)		34,036		—		34,036		—
Total	$	2,504,901	$	571	$	(3,468)	$	2,502,004	$	236,515	$	2,255,038	$	10,451

(1)Includes U.S. government and government agency debt securities

	September 30, 2022								Classification as of September 30, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Total Estimated Fair Value		Cash and Cash Equivalents		Marketable Securities		Other Assets, Noncurrent
Certificates of deposit	$	599,030	$	—	$	—	$	599,030	$	6,925	$	592,105	$	—
Government bonds(1)	19,638		—		(158)		19,480		—		19,480		—
Commercial paper	987,520		—		—		987,520		277,582		709,938		—
Corporate debt securities	776,741		73		(10,778)		766,036		10,389		745,235		10,412
Mortgage-backed and asset-backed securities	24,941		1		(3,458)		21,484		—		21,484		—
Total	$	2,407,870	$	74	$	(14,394)	$	2,393,550	$	294,896	$	2,088,242	$	10,412

(1)Includes U.S. government and government agency debt securities

Contractual Maturities of the Available-for-Sale Debt Securities

The following table summarizes the contractual maturities of the Company’s available-for-sale debt securities (in thousands):

	September 30, 2022
	Amortized Cost		Estimated Fair Value
Due within one year	$	2,135,406	$	2,132,499
Due in one year to five years	249,656		241,640
Due within five to ten years	20,097		16,794
Due beyond ten years	2,711		2,617
Total	$	2,407,870	$	2,393,550