v3.25.1
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
OPERATING ACTIVITIES:      
Net income $ 333 $ 776  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 154 137  
Provision for expected credit losses and chargebacks 89 89  
Deferred income taxes (144) (35)  
Stock-based compensation expense 143 144  
Operating lease amortization 30 40  
Unrealized foreign currency transaction losses (gains) related to Euro-denominated debt 437 (167)  
Amortization of debt discount on convertible senior notes 392 0  
Change in fair value of the conversion option of the convertible senior notes (158) 0  
Other (44) 16  
Changes in assets and liabilities:      
Accounts receivable (99) (185)  
Prepaid expenses and other current assets 84 (98)  
Deferred merchant bookings and other current liabilities 1,903 2,123  
Other 163 (136)  
Net cash provided by operating activities 3,283 2,704  
INVESTING ACTIVITIES:      
Proceeds from maturity of investments 0 218  
Additions to property and equipment (121) (130)  
Other investing activities 3 (19)  
Net cash (used in) provided by investing activities (118) 69  
FINANCING ACTIVITIES:      
Proceeds from the issuance of long-term debt 0 2,959  
Payments on maturity of debt (1,530) 0  
Payments for repurchase of common stock (2,170) (1,856)  
Dividends paid (319) (299)  
Other financing activities 52 (20)  
Net cash (used in) provided by financing activities (3,967) 784  
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents 222 (28)  
Net (decrease) increase in cash and cash equivalents and restricted cash and cash equivalents (580) 3,529  
Total cash and cash equivalents and restricted cash and cash equivalents, beginning of period 16,193 12,135 $ 12,135
Total cash and cash equivalents and restricted cash and cash equivalents, end of period $ 15,613 $ 15,664 $ 16,193