CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income	$ 509	$ 1,097
Adjustments to reconcile net income to net cash provided by operating activities:
Transaction and credit losses	369	273
Depreciation and amortization	328	300
Stock-based compensation	429	368
Deferred income taxes	(16)	0
Net (gains) losses on strategic investments	(14)	120
Other	74	51
Changes in assets and liabilities:
Accounts receivable	(50)	(97)
Accounts payable	(29)	(34)
Income taxes payable	17	(33)
Other assets and liabilities	(375)	(287)
Net cash provided by operating activities	1,242	1,758
Cash flows from investing activities:
Purchases of property and equipment	(191)	(221)
Proceeds from sales of property and equipment	3	0
Purchases and originations of loans receivable	(5,525)	(2,133)
Principal repayment of loans receivable	5,054	2,208
Purchases of investments	(8,604)	(10,975)
Maturities and sales of investments	8,751	9,718
Funds receivable	(239)	(180)
Net cash used in investing activities	(751)	(1,583)
Cash flows from financing activities:
Proceeds from issuance of common stock	3	2
Purchases of treasury stock	(1,500)	(1,323)
Tax withholdings related to net share settlements of equity awards	(244)	(863)
Borrowings under financing arrangements	286	0
Repayments under financing arrangements	(104)	0
Funds payable and amounts due to customers	863	3,011
Other financing activities	1	0
Net cash (used in) provided by financing activities	(695)	827
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	18	(42)
Net change in cash, cash equivalents, and restricted cash	(186)	960
Cash, cash equivalents, and restricted cash at beginning of period	18,029	18,040
Cash, cash equivalents, and restricted cash at end of period	17,843	19,000
Supplemental cash flow disclosures:
Cash paid for interest	12	12
Cash paid for income taxes, net	47	87
The table below reconciles cash, cash equivalents, and restricted cash as reported in the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows:
Cash and cash equivalents	4,861	5,717
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows	17,843	19,000
Short-term investments
The table below reconciles cash, cash equivalents, and restricted cash as reported in the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows:
Restricted cash	27	26
Funds receivable and customer accounts
The table below reconciles cash, cash equivalents, and restricted cash as reported in the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows:
Restricted cash	$ 12,955	$ 13,257