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 paper	349		—		349
Money market fund	160		—		160
Total cash and cash equivalents	937		—		937
Short-term investments(2):
U.S. government and agency securities	623		—		623
Foreign government and agency securities	347		—		347
Corporate debt securities	1,482		—		1,482
Asset-backed securities	718		—		718
Commercial paper	1,678		—		1,678
Total short-term investments	4,848		—		4,848
Funds receivable and customer accounts(3):
U.S. government and agency securities	8,478		—		8,478
Foreign government and agency securities	1,118		—		1,118
Corporate debt securities	1,601		—		1,601
Asset-backed securities	1,423		—		1,423
Municipal securities	638		—		638
Commercial paper	2,849		—		2,849
Total funds receivable and customer accounts	16,107		—		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 securities	180		—		180
Foreign government and agency securities	32		—		32
Corporate debt securities	418		—		418
Asset-backed securities	761		—		761
Marketable equity securities	24		24		—
Total long-term investments	1,415		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 securities	100		—		100
Commercial paper	540		—		540
Money market fund	152		—		152
Total cash and cash equivalents	932		—		932
Short-term investments(2):
U.S. government and agency securities	812		—		812
Foreign government and agency securities	424		—		424
Corporate debt securities	627		—		627
Asset-backed securities	406		—		406
Commercial paper	324		—		324
Total short-term investments	2,593		—		2,593
Funds receivable and customer accounts(3):
U.S. government and agency securities	8,585		—		8,585
Foreign government and agency securities	1,867		—		1,867
Corporate debt securities	1,694		—		1,694
Asset-backed securities	1,298		—		1,298
Municipal securities	408		—		408
Commercial paper	3,689		—		3,689
Total funds receivable and customer accounts	17,541		—		17,541
Derivatives(4)	244		—		244
Crypto asset safeguarding asset(4)	604		—		604
Long-term investments(2), (5):
U.S. government and agency securities	457		—		457
Foreign government and agency securities	364		—		364
Corporate debt securities	929		—		929
Asset-backed securities	1,067		—		1,067
Marketable equity securities	323		323		—
Total long-term investments	3,140		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, 2023				December 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,
	2023		2022
	(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, 2023		Significant 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, 2022		Significant 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)		Methodology	Input	Low(1)		High(1)		Weighted Average(1)(2)
Loans and interest receivable, held for sale	$	563	Price-based	Price	$	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.