UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended
Mar. 31, 2024	Mar. 31, 2023
Total revenues	$ 4,415	$ 3,778
Operating expenses:
Marketing expenses	1,610	1,517
Sales and other expenses	678	570
Personnel, including stock-based compensation of $144 and $113, respectively	826	722
General and administrative	186	262
Information technology	187	137
Depreciation and amortization	137	120
Total operating expenses	3,624	3,328
Operating income	791	450
Interest expense	(219)	(194)
Interest and dividend income	243	228
Other income (expense), net	122	(181)
Income before income taxes	937	303
Income tax expense	161	37
Net income	$ 776	$ 266
Net income applicable to common stockholders per basic common share (in dollars per share)	$ 22.69	$ 7.07
Weighted-average number of basic common shares outstanding (in shares)	34,206	37,621
Net income applicable to common stockholders per diluted common share (in dollars per share)	$ 22.37	$ 7.00
Weighted-average number of diluted common shares outstanding (in shares)	34,706	37,983
Merchant revenues
Total revenues	$ 2,388	$ 1,752
Agency revenues
Total revenues	1,763	1,782
Advertising and other revenues
Total revenues	$ 264	$ 244

"Sales and other expenses" are generally variable in nature and consist primarily of: (1) credit cards and other payment processing fees associated with merchant transactions; (2) fees paid to third parties that provide call center, website content translations and other services; (3) provisions for customer chargebacks associated with merchant transactions; (4) customer relations costs; (5) provisions for credit losses and bad debt, primarily related to agency accommodation commission receivables; and (6) insurance claim costs.

No definition available.