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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net income $ 688 $ 343 $ 15
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of property and equipment, including internal-use software and website development 748 704 715
Amortization of stock-based compensation 413 374 418
Amortization of intangible assets 59 88 99
Impairment of goodwill, intangible and other long-term assets 426 81 20
Deferred income taxes 62 70 (145)
Foreign exchange (gain) loss on cash, restricted cash and short-term investments, net (16) 128 105
Realized loss on foreign currency forwards, net 0 78 16
(Gain) loss on minority equity investments, net (16) 345 29
(Gain) loss on debt extinguishment, net 0 (49) 280
Gain on sale of business, net (25) (6) (456)
Other 80 23 32
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:      
Accounts receivable (741) (838) (721)
Prepaid expenses and other assets 98 55 (224)
Accounts payable, merchant 332 375 777
Accounts payable, other, accrued expenses and other liabilities 101 194 136
Tax payable/receivable, net (91) 11 10
Deferred merchant bookings 572 1,464 2,642
Net cash provided by operating activities 2,690 3,440 3,748 Close
Investing activities:      
Capital expenditures, including internal-use software and website development (846) (662) (673)
Purchases of investments (28) (60) (201)
Sales and maturities of investments 49 205 23
Cash and restricted cash divested from sale of business, net of proceeds 25 4 (60)
Proceeds from initial exchange of cross-currency interest rate swaps 0 337 0
Payments for initial exchange of cross-currency interest rate swaps 0 (337) 0
Other, net 0 (67) (20)
Net cash used in investing activities (800) (580) (931) Close
Financing activities:      
Proceeds from issuance of long-term debt, net of issuance costs 0 0 1,964
Payment of long-term debt 0 (2,141) (1,706)
Debt extinguishment costs 0 (22) (258)
Redemption of preferred stock 0 0 (1,236)
Purchases of treasury stock (2,137) (607) (165)
Payment of dividends to preferred stockholders 0 0 (67)
Proceeds from exercise of equity awards and employee stock purchase plan 101 131 503
Other, net (60) 15 (8)
Net cash used in financing activities (2,096) (2,624) (973) Close
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents 16 (190) (177) Close
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents (190) 46 1,667 Close
Cash, cash equivalents and restricted cash and cash equivalents at beginning of year 5,851 5,805 4,138
Cash, cash equivalents and restricted cash and cash equivalents at end of year 5,661 5,851 5,805
Supplemental cash flow information      
Cash paid for interest 231 291 342
Income tax payments, net $ 281 $ 102 $ 74