v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 2,217 $ 2,548
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Transaction and credit losses 775 847
Depreciation and amortization 484 484
Stock-based compensation 534 535
Deferred income taxes (175) (89)
Net (gains) losses on strategic investments 175 (59)
Accretion of discounts on investments, net of amortization of premiums (19) (57)
Adjustments to loans and interest receivable, held for sale 126 52
Other 79 (297)
Originations of loans receivable, held for sale (23,779) (14,358)
Proceeds from repayments and sales of loans receivable, originally classified as held for sale 23,373 14,112
Changes in assets and liabilities:    
Accounts receivable 78 (115)
Transaction loss allowance for cash losses, net (602) (655)
Other current assets and non-current assets 57 (389)
Accounts payable 2 (50)
Other current liabilities and non-current liabilities (208) (451)
Net cash provided by operating activities 3,117 2,058
Cash flows from investing activities:    
Purchases of reverse repurchase agreements 0 (201)
Maturities of reverse repurchase agreements 0 288
Purchases of property and equipment (439) (402)
Proceeds from sales of property and equipment 19 3
Purchases and originations of loans receivable (8,026) (11,490)
Proceeds from repayments and sales of loans receivable, originally classified as held for investment 7,595 11,210
Purchases of investments (12,983) (11,564)
Maturities and sales of investments 9,659 11,595
Acquisitions, net of cash acquired (122) 0
Funds receivable (824) (2,785)
Collateral posted related to derivative instruments, net 136 (316)
Other 0 (15)
Net cash used in investing activities (4,985) (3,677)
Cash flows from financing activities:    
Borrowings from repurchase agreements 0 405
Repayments of repurchase agreements 0 (405)
Proceeds from issuance of common stock 60 74
Purchases of treasury stock (3,052) (3,051)
Tax withholdings related to net share settlements of equity awards (185) (249)
Borrowings under financing arrangements 3,514 1,491
Repayments under financing arrangements (1,676) (1,207)
Funds payable and amounts due to customers 1,323 913
Collateral received related to derivative instruments and reverse repurchase agreements, net 118 (145)
Payments of dividends to stockholders (252) 0
Other (6) (6)
Net cash used in financing activities (156) (2,180)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (21) 289
Net change in cash, cash equivalents, and restricted cash (2,045) (3,510)
Cash, cash equivalents, and restricted cash at beginning of period 24,018 22,490
Cash, cash equivalents, and restricted cash at end of period 21,973 18,980
Supplemental cash flow disclosures:    
Cash paid for interest 212 191
Cash paid for income taxes, net 225 837
The table below reconciles cash, cash equivalents, and restricted cash as reported in the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows:    
Cash and cash equivalents 8,306 6,688
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows 21,973 18,980
Funds receivable and customer accounts    
The table below reconciles cash, cash equivalents, and restricted cash as reported in the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows:    
Funds receivable and customer accounts $ 13,667 $ 12,292