Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consist of the following:

	December 31,
	2022		2021(1)
	(in millions)
Logistics costs(2)	$	44	$	56
Deferred revenue and customer deposits(3)		18		25
Wish Cash liability(4)		14		20
Sales and indirect taxes(5)		15		26
Other		39		47
Total accrued liabilities	$	130	$	174

(1)The amounts previously disclosed in the Company’s 2021 Form 10-K were realigned to ensure consistency with the amounts reflected as of December 31, 2022.

(2)Logistics costs decreased by $12 million or 21% primarily due to lower shipping volumes during the fourth quarter of 2022 compared to the fourth quarter of 2021.

(3)Deferred revenue and customer deposits decreased by $7 million or 28% primarily due to lower logistics volumes during the fourth 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 years ended December 31, 2022 and 2021 was $4 million and $29 million, respectively.

(5)Sales and indirect taxes decreased by $11 million or 42% primarily due to less taxes in connection with lower order volumes during the fourth quarter of 2022 compared to the fourth quarter of 2021