CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 4,169	$ 4,202	$ 2,459
Adjustments to reconcile net income to net cash provided by operating activities:
Transaction and credit losses	1,060	1,741	1,380
Depreciation and amortization	1,265	1,189	912
Stock-based compensation	1,376	1,376	1,021
Deferred income taxes	(482)	165	(269)
Net gains on strategic investments	(46)	(1,914)	(208)
Other	100	47	(149)
Changes in assets and liabilities:
Accounts receivable	(222)	(100)	(120)
Changes in loans and interest receivable held for sale, net	0	0	4
Transaction loss allowance for cash losses, net	(1,178)	(1,120)	(1,079)
Other current assets and non-current assets	(150)	(498)	(566)
Accounts payable	(31)	(4)	4
Income taxes payable	73	(230)	(40)
Other current liabilities and non-current liabilities	406	1,000	722
Net cash provided by operating activities	6,340	5,854	4,071
Cash flows from investing activities:
Purchases of property and equipment	(908)	(866)	(704)
Proceeds from sales of property and equipment	5	120	17
Changes in principal loans receivable, net	(1,594)	294	(1,631)
Purchases of investments	(40,116)	(41,513)	(27,881)
Maturities and sales of investments	39,698	30,908	24,878
Acquisitions, net of cash and restricted cash acquired	(2,763)	(3,609)	(70)
Funds receivable	193	(1,552)	(351)
Net cash used in investing activities	(5,485)	(16,218)	(5,742)
Cash flows from financing activities:
Proceeds from issuance of common stock	162	137	138
Purchases of treasury stock	(3,373)	(1,635)	(1,411)
Tax withholdings related to net share settlements of equity awards	(1,036)	(521)	(504)
Borrowings under financing arrangements	272	6,966	5,471
Repayments under financing arrangements	(361)	(3,000)	(2,516)
Funds payable and amounts due to customers	3,572	10,597	3,009
Other financing activities	0	(52)	0
Net cash (used in) provided by financing activities	(764)	12,492	4,187
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(102)	169	(6)
Net change in cash, cash equivalents, and restricted cash	(11)	2,297	2,510
Cash, cash equivalents, and restricted cash at beginning of period	18,040	15,743	13,233
Cash, cash equivalents, and restricted cash at end of period	18,029	18,040	15,743
Supplemental cash flow disclosures:
Cash paid for interest	231	190	78
Cash paid for income taxes, net	474	565	665
The table below reconciles cash, cash equivalents, and restricted cash as reported in the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows:
Cash and cash equivalents	5,197	4,794	7,349
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	18,029	18,040	15,743
Short-term and long-term investments
The table below reconciles cash, cash equivalents, and restricted cash as reported in the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows:
Restricted cash and cash equivalents	109	24	7
Funds receivable and customer accounts
The table below reconciles cash, cash equivalents, and restricted cash as reported in the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows:
Restricted cash and cash equivalents	$ 12,723	$ 13,222	$ 8,387