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Settlement Assets and Obligations
 12 Months Ended
Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Settlement Assets and Obligations Settlement Assets and Obligations
Settlement assets and obligations represent intermediary balances arising from the settlement process which involves the transferring of funds between card issuers, payment networks, merchants and consumers, and collateral amounts held to manage merchant credit risk. The Company records settlement assets and obligations upon processing a payment transaction. Settlement assets represent amounts receivable from agents, payment networks, bank partners, merchants or direct consumers for submitted merchant transactions, and funds received by the Company in advance of paying to merchants or payees. Settlement obligations represent the unpaid amounts that are due to merchants and payees for their payment transactions and collateral deposits.
The principal components of the Company’s settlement assets and obligations were as follows at December 31:
(In millions)20222021
Settlement assets
Cash and cash equivalents$2,283 $2,361 
Receivables19,199 11,291 
Total settlement assets$21,482 $13,652 
Settlement obligations
Payment instruments outstanding$650 $460 
Card settlements and collateral deposits due to merchants20,832 13,192 
Total settlement obligations$21,482 $13,652