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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
1 Months Ended 3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
OPERATING ACTIVITIES:        
Net income   $ 776 $ 266  
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization   137 120  
Provision for expected credit losses and chargebacks   89 54  
Deferred income tax benefit   (35) (340)  
Net losses on equity securities   16 133  
Stock-based compensation expense   144 113  
Operating lease amortization   40 41  
Unrealized foreign currency transaction (gains) losses related to Euro-denominated debt   (167) 26  
Changes in assets and liabilities:        
Accounts receivable   (185) 158  
Prepaid expenses and other current assets   (98) 118  
Deferred merchant bookings and other current liabilities   2,123 2,038  
Other   (136) 162  
Net cash provided by operating activities   2,704 2,889   Close
INVESTING ACTIVITIES:        
Proceeds from sale and maturity of investments   218 1,683  
Additions to property and equipment   (130) (88)  
Other investing activities   (19) (9)  
Net cash provided by investing activities   69 1,586   Close
FINANCING ACTIVITIES:        
Proceeds from the issuance of long-term debt   2,959 0  
Payment on maturity of debt   0 (500)  
Payments for repurchase of common stock   (1,856) (2,150)  
Dividends paid $ (299) (299) 0  
Proceeds from exercise of stock options   6 105  
Other financing activities   (26) (17)  
Net cash provided by (used in) financing activities   784 (2,562)   Close
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents   (28) 8   Close
Net increase in cash and cash equivalents and restricted cash and cash equivalents   3,529 1,921   Close
Total cash and cash equivalents and restricted cash and cash equivalents, beginning of period   12,135 12,251 $ 12,251
Total cash and cash equivalents and restricted cash and cash equivalents, end of period $ 15,664 15,664 14,172 $ 12,135
SUPPLEMENTAL CASH FLOW INFORMATION:        
Cash paid during the period for income taxes   164 311  
Cash paid during the period for interest   $ 136 $ 142