v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:        
Net income (loss) $ 1,029 $ (341) $ 1,824 $ 168
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Transaction and credit losses 398 448 840 817
Depreciation and amortization     539 661
Stock-based compensation     708 741
Deferred income taxes     (146) (457)
Net (gains) losses on strategic investments (133) 672 (181) 658
Adjustments to loans and interest receivable, held for sale     34 0
Other     (276) 295
Originations of loans receivable, held for sale     (1,521) 0
Proceeds from repayments of loans receivable, originally classified as held for sale     302 0
Changes in assets and liabilities:        
Accounts receivable     36 (67)
Accounts payable     (12) (27)
Income taxes payable     (326) 86
Other assets and liabilities     (851) (408)
Net cash provided by operating activities     970 2,467
Cash flows from investing activities:        
Purchases of property and equipment     (320) (366)
Proceeds from sales of property and equipment     40 5
Purchases and originations of loans receivable     (15,167) (12,300)
Proceeds from repayments of loans receivable, originally classified as held for investment     15,990 10,910
Purchases of investments     (10,523) (13,151)
Maturities and sales of investments     10,742 11,087
Funds receivable     759 (882)
Collateral posted related to derivative instruments, net     (11) 5
Other investing activities     83 30
Net cash provided by (used in) investing activities     1,593 (4,662)
Cash flows from financing activities:        
Proceeds from issuance of common stock     82 86
Purchases of treasury stock     (2,961) (2,250)
Tax withholdings related to net share settlements of equity awards     (200) (275)
Borrowings under financing arrangements     720 3,288
Repayments under financing arrangements     (942) (1,686)
Funds payable and amounts due to customers     (2,578) 1,586
Collateral received related to derivative instruments, net     (175) 236
Other financing activities     0 1
Net cash (used in) provided by financing activities     (6,054) 986
Effect of exchange rate changes on cash, cash equivalents, and restricted cash     (50) (136)
Net change in cash, cash equivalents, and restricted cash     (3,541) (1,345)
Cash, cash equivalents, and restricted cash at beginning of period     19,156 18,029
Cash, cash equivalents, and restricted cash at end of period 15,615 16,684 15,615 16,684
Supplemental cash flow disclosures:        
Cash paid for interest 167 112    
Cash paid for income taxes, net 906 444    
The table below reconciles cash, cash equivalents, and restricted cash as reported in the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows:        
Cash and cash equivalents 5,504 4,583 5,504 4,583
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows 15,615 16,684 15,615 16,684
Short-term investments        
The table below reconciles cash, cash equivalents, and restricted cash as reported in the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows:        
Restricted cash 11 22 11 22
Funds receivable and customer accounts        
The table below reconciles cash, cash equivalents, and restricted cash as reported in the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows:        
Restricted cash $ 10,100 $ 12,079 $ 10,100 $ 12,079