Balance Sheet Components |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet Related Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet Components | NOTE 4. BALANCE SHEET COMPONENTS Accrued Liabilities Accrued liabilities consist of the following:
(1) The amounts previously disclosed in the Company’s 2021 Form 10-K were realigned to ensure consistency with the amounts reflected as of September 30, 2022. (2) Logistics costs decreased by $17 million or 30% primarily due to lower shipping volumes during the third quarter of 2022 compared to the fourth quarter of 2021. (3) Deferred revenue and customer deposits decreased by $6 million or 24% primarily due to lower logistics volumes during the third quarter of 2022 compared to the fourth quarter of 2021. (4) While the Company will continue to honor all Wish Cash presented for payment, it may determine the likelihood of redemption to be remote for certain Wish Cash liability balances due to, among other things, long periods of inactivity. In these circumstances, to the extent the Company determines there is no requirement for remitting Wish Cash balances to government agencies under unclaimed property laws, the portion of Wish Cash liability balances not expected to be redeemed are recognized in core marketplace revenue. Wish Cash liability breakage recognized in core marketplace revenue during the third quarter of 2022 and the fourth quarter of 2021 was $2 and $3 million, respectively. (5) Sales and indirect taxes decreased by $10 million or 38% primarily due to less taxes in connection with lower order volumes during the third quarter of 2022 compared to the fourth quarter of 2021. |