Timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable represents amounts invoiced and revenue recognized prior to invoicing when we have satisfied our performance obligation and have the unconditional right to payment. The allowance for doubtful accounts and authorized credits is estimated based upon our assessment of various factors including historical experience, the age of the accounts receivable balances, current economic conditions, reasonable and supportable forecasts and other factors that may affect our customers’ ability to pay. The allowance for doubtful accounts and authorized credits was $37 million and $49 million as of December 31, 2024 and December 31, 2023, respectively. As of December 31, 2024, we reported allowances for doubtful accounts of $13 million, reflecting a decrease of $10 million, net of write-offs of $29 million, for the year ended December 31, 2024. As of December 31, 2024, we reported allowances for authorized credits of $24 million, reflecting a decrease of $2 million, net of write-offs of $4 million, for the year ended December 31, 2024. As of December 31, 2023, we reported an allowance for doubtful accounts of $23 million and an allowance for authorized credits of $26 million.

Deferred revenue consists of fees received related to unsatisfied performance obligations at the end of the period. Due to the generally short-term duration of contracts, the majority of the performance obligations are satisfied in the following reporting period. The amount of revenue recognized during the year ended December 31, 2024 that was included in the deferred revenue balance at the beginning of the period was $32 million. The amount of revenue recognized during the year ended December 31, 2023 that was included in the deferred revenue balance at the beginning of the period was $33 million.


	December 31,
	2024		2023
	(In millions)
Prepaid expenses	$	136	$	116
Income and other tax receivable	115		99
Accounts receivable, net	108		94
Restricted cash	88		23
Short-term derivative assets	68		23
Warrant	—		364
Other	200		292
Other current assets	$	715	$	1,011


	December 31,
	2024		2023		Estimated useful lives
	(In millions)
Computer equipment and software	$	4,685	$	4,905	1 - 4 years
Land and buildings, including building improvements	810		829		Up to 30 years
Leasehold improvements	428		418		Shorter of 5 years or lease term
Furniture and fixtures	133		141		3 years
Construction in progress and other	76		153		Not applicable
Property and equipment, gross	6,132		6,446
Accumulated depreciation	(4,869)		(5,203)
Property and equipment, net	$	1,263	$	1,243


	December 31,
	2024		2023
	(In millions)
Accrued sales and use tax and VAT	$	515	$	424
Compensation and related benefits	498		581
Accrued marketing expenses	222		181
Other current tax liabilities	173		15
Transaction loss reserve	118		125
Operating lease liabilities	118		118
Accrued general and administrative expenses	68		79
Accrued interest expense	45		56
Deferred revenue	32		34
Accrued restructuring	10		102
Other	385		481
Accrued expenses and other current liabilities	$	2,184	$	2,196