v3.25.1
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents (Note 4) $ 1,154 $ 1,064
Accounts receivable, net (allowance for expected credit losses of $27 and $25, respectively) (Note 4) 263 207
Prepaid expenses and other current assets 67 49
Total current assets 1,484 1,320
Property and equipment, net of accumulated depreciation of $586 and $567, respectively 204 200
Operating lease right-of-use assets 34 17
Intangible assets, net of accumulated amortization of $193 and $189, respectively 35 36
Goodwill 825 814
Non-marketable investments (Note 4) 30 30
Deferred income taxes, net 100 101
Other long-term assets, net of allowance for credit losses of $10 and $10, respectively (Note 4) 44 43
TOTAL ASSETS 2,756 2,561
Current liabilities:    
Accounts payable 61 49
Deferred merchant payables 365 255
Deferred revenue (Note 3) 82 47
Current portion of debt (Note 6) 9 5
Income taxes payable (Note 7) 25 23
Accrued expenses and other current liabilities (Note 5) 241 249
Total current liabilities 783 628
Long-term debt (Note 6) 1,167 831
Finance lease obligation, net of current portion 42 43
Operating lease liabilities, net of current portion 29 11
Deferred income taxes, net 1 1
Other long-term liabilities 91 104
Total Liabilities 2,113 1,618
Commitments and contingencies (Note 9)
Stockholders' equity: (Note 11)    
Preferred stock, $0.001 par value Authorized shares: 100,000,000 Shares issued and outstanding: 0 and 0 0 0
Common stock 0 0
Additional paid-in capital 1,627 1,605
Stockholder note receivable - related party (Note 1) (327) 0
Retained earnings 265 276
Accumulated other comprehensive income (loss) (75) (91)
Treasury stock-common stock, at cost, 26,260,252 and 26,260,252 shares, respectively (847) (847)
Total Stockholders’ Equity 643 943
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 2,756 2,561
Class B Common Stock    
Stockholders' equity: (Note 11)    
Common stock $ 0 $ 0