v3.26.1
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
OPERATING ACTIVITIES:    
Net income $ 3,033 $ 1,228
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 260 312
Provision for expected credit losses and chargebacks 217 206
Deferred income taxes 72 (402)
Net losses (gains) on equity securities 135 (23)
Stock-based compensation expense 281 297
Operating lease amortization 65 66
Unrealized foreign currency transaction (gains) losses related to Euro-denominated debt (528) 1,398
Amortization of debt discount and change in fair value of the conversion option related to the convertible senior notes 0 360
Other 8 (44)
Changes in assets and liabilities:    
Accounts receivable (795) (1,078)
Deferred merchant bookings and other current liabilities 4,207 3,796
Other (21) 368
Net cash provided by operating activities 6,934 6,484
INVESTING ACTIVITIES:    
Additions to property and equipment (183) (185)
Other investing activities (13) 6
Net cash used in investing activities (196) (179)
FINANCING ACTIVITIES:    
Proceeds from the issuance of long-term debt 2,975 1,955
Payments on maturity of debt (1,000) (3,451)
Payments for repurchase of common stock (7,758) (3,668)
Dividends paid (664) (631)
Other financing activities 227 31
Net cash used in financing activities (6,220) (5,764)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents (279) 903
Net increase in cash and cash equivalents and restricted cash and cash equivalents 239 1,444
Total cash and cash equivalents and restricted cash and cash equivalents, beginning of period 17,269 16,193
Total cash and cash equivalents and restricted cash and cash equivalents, end of period $ 17,508 $ 17,637