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FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of financial assets and liabilities measured at fair value on a recurring basis
The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2022:     
December 31, 2023
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other Observable Inputs (Level 2)
(In millions)
Assets:   
Cash and cash equivalents(1):
U.S. government and agency securities$428 $— $428 
Commercial paper349 — 349 
Money market fund
160 — 160 
Total cash and cash equivalents
937 — 937 
Short-term investments(2):
U.S. government and agency securities623 — 623 
Foreign government and agency securities347 — 347 
Corporate debt securities1,482 — 1,482 
Asset-backed securities718 — 718 
Commercial paper1,678 — 1,678 
Total short-term investments4,848 — 4,848 
Funds receivable and customer accounts(3):
U.S. government and agency securities8,478 — 8,478 
Foreign government and agency securities1,118 — 1,118 
        Corporate debt securities1,601 — 1,601 
Asset-backed securities1,423 — 1,423 
Municipal securities638 — 638 
Commercial paper2,849 — 2,849 
Total funds receivable and customer accounts16,107 — 16,107 
Derivatives(4)
141 — 141 
Crypto asset safeguarding asset(4)
1,241 — 1,241 
Long-term investments(2),(5):
U.S. government and agency securities180 — 180 
Foreign government and agency securities32 — 32 
Corporate debt securities418 — 418 
Asset-backed securities761 — 761 
Marketable equity securities24 24 — 
Total long-term investments1,415 24 1,391 
Total financial assets$24,689 $24 $24,665 
Liabilities:
Derivatives(4)
$131 $— $131 
Crypto asset safeguarding liability(4)
1,241 — 1,241 
Total financial liabilities$1,372 $— $1,372 
(1) Excludes cash of $8.1 billion not measured and recorded at fair value.
(2) Excludes restricted cash of $3 million and time deposits of $173 million not measured and recorded at fair value.
(3) Excludes cash, time deposits, and funds receivable of $22.8 billion underlying funds receivable and customer accounts not measured and recorded at fair value.
(4) Derivative assets and liabilities are included within “prepaid expenses and other current assets” and “other assets” and “accrued expenses and other current liabilities” and “other long-term liabilities,” respectively, on our consolidated balance sheets. Crypto safeguarding asset and associated liability are recorded within “prepaid expenses and other current assets” and “accrued expenses and other current liabilities,” respectively, on our consolidated balance sheets.
(5) Excludes non-marketable equity securities of $1.8 billion measured using the Measurement Alternative or equity method accounting.


December 31, 2022
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other Observable Inputs (Level 2)
(In millions)
Assets:   
Cash and cash equivalents(1):
U.S. government and agency securities$140 $— $140 
Corporate debt securities100 — 100 
Commercial paper540 — 540 
Money market fund
152 — 152 
Total cash and cash equivalents
932 — 932 
Short-term investments(2):
U.S. government and agency securities812 — 812 
Foreign government and agency securities424 — 424 
Corporate debt securities627 — 627 
Asset-backed securities406 — 406 
Commercial paper324 — 324 
Total short-term investments2,593 — 2,593 
Funds receivable and customer accounts(3):
U.S. government and agency securities8,585 — 8,585 
Foreign government and agency securities1,867 — 1,867 
Corporate debt securities1,694 — 1,694 
Asset-backed securities1,298 — 1,298 
Municipal securities408 — 408 
Commercial paper3,689 — 3,689 
Total funds receivable and customer accounts17,541 — 17,541 
Derivatives(4)
244 — 244 
Crypto asset safeguarding asset(4)
604 — 604 
Long-term investments(2), (5):
U.S. government and agency securities457 — 457 
Foreign government and agency securities364 — 364 
Corporate debt securities929 — 929 
Asset-backed securities1,067 — 1,067 
Marketable equity securities323 323 — 
Total long-term investments3,140 323 2,817 
Total financial assets$25,054 $323 $24,731 
Liabilities:
Derivatives(4)
$298 $— $298 
Crypto asset safeguarding liability(4)
604 — 604 
Total financial liabilities$902 $— $902 
(1) Excludes cash of $6.8 billion not measured and recorded at fair value.
(2) Excludes restricted cash of $17 million and time deposits of $537 million not measured and recorded at fair value.
(3) Excludes cash, time deposits, and funds receivable of $18.7 billion underlying funds receivable and customer accounts not measured and recorded at fair value.
(4) Derivative assets and liabilities are included within “prepaid expenses and other current assets” and “other assets” and “accrued expenses and other current liabilities” and “other long-term liabilities,” respectively, on our consolidated balance sheets. Crypto safeguarding asset and associated liability are recorded within “prepaid expenses and other current assets” and “accrued expenses and other current liabilities,” respectively, on our consolidated balance sheets.
(5) Excludes non-marketable equity securities of $1.8 billion measured using the Measurement Alternative or equity method accounting.
Schedule of investments under the fair value option The following table summarizes the estimated fair value and amortized cost of our available-for-sale debt securities under the fair value option as of December 31, 2023 and 2022:
December 31, 2023December 31, 2022
Amortized Cost
Fair Value
Amortized Cost
Fair Value
(In millions)
Funds receivable and customer accounts$625 $618 $553 $540 
The following table summarizes the gains (losses) from fair value changes recognized in other income (expense), net related to the available-for-sale debt securities under the fair value option for the years ended December 31, 2023 and 2022:
Year Ended December 31,
 20232022
(In millions)
Funds receivable and customer accounts$13 $(149)
Schedule of financial assets and liabilities measured at fair value on a non-recurring basis
The following tables summarize our assets held as of December 31, 2023 and 2022 for which a non-recurring fair value measurement was recorded during the years ended December 31, 2023 and 2022, respectively:

December 31, 2023Significant Other Observable Inputs (Level 2)Significant Other Unobservable Inputs (Level 3)
(In millions)
Loans and interest receivable, held for sale
$563 $— $563 
Non-marketable equity securities measured using the Measurement Alternative(1)
440 131 309 
Other assets(2)
112 112 — 
Total$1,115 $243 $872 
(1) Excludes non-marketable equity securities of $1.2 billion accounted for under the Measurement Alternative for which no observable price changes occurred during the year ended December 31, 2023.
(2) Consists of ROU lease assets recorded at fair value pursuant to impairment charges that occurred during the year ended December 31, 2023. See “Note 6—Leases” for additional information.

December 31, 2022Significant Other Observable Inputs (Level 2)Significant Other Unobservable Inputs (Level 3)
(In millions)
Non-marketable equity securities measured using the Measurement Alternative(1)
$1,122 $724 $398 
Other assets(2)
165 165 — 
Total$1,287 $889 $398 
(1) Excludes non-marketable equity securities of $565 million accounted for under the Measurement Alternative for which no observable price changes occurred during the year ended December 31, 2022.
(2) Consists of ROU lease assets recorded at fair value pursuant to impairment charges that occurred during the year ended December 31, 2022. See “Note 6—Leases” for additional information.
Schedule of fair value measurement inputs and valuation techniques The following table presents the valuation techniques covering the majority of Level 3 non-recurring fair value measurements and the most significant unobservable inputs used in those measurements as of December 31, 2023:
Fair Value
(In millions)		MethodologyInput
Low(1)
High(1)
Weighted Average(1)(2)
Loans and interest receivable, held for sale$563 Price-basedPrice$0.99 $0.99 $0.99 
(1) Prices are measured in relation to $1.00 par.
(2) Weighted average is calculated based on the fair value of the loans.