v3.22.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (18,792) $ (1,172,211)
Adjustments to reconcile net loss to cash provided by operating activities:    
Depreciation and amortization 29,232 38,252
Bad debt expense 9,299 7,305
Stock-based compensation expense 194,923 229,474
(Gain) loss on investments, net 1,260 (12,171)
Change in fair value of warrant liability 0 291,987
Amortization of debt discount and debt issuance costs 1,041 5,405
Noncash interest expense, net 2,106 1,716
Foreign exchange (gain) loss 14,854 (9,151)
Impairment of long-lived assets 0 112,545
Loss from extinguishment of debt 0 377,248
Other, net 14,479 6,978
Changes in operating assets and liabilities:    
Prepaids and other assets (18,718) (2,696)
Operating lease right-of-use assets 9,079 7,462
Accounts payable 10,270 37,326
Accrued expenses and other liabilities 121,922 155,225
Operating lease liabilities (12,982) (6,650)
Unearned fees 844,019 538,332
Net cash provided by operating activities 1,201,992 606,376
Cash flows from investing activities:    
Purchases of property and equipment (5,959) (7,706)
Purchases of marketable securities (927,974) (1,581,425)
Sales of marketable securities 146,038 248,185
Maturities of marketable securities 593,772 168,660
Other investing activities, net (2,847) 0
Net cash used in investing activities (196,970) (1,172,286)
Cash flows from financing activities:    
Taxes paid related to net share settlement of equity awards (204,768) (130,430)
Principal repayment of long-term debt 0 (1,995,000)
Prepayment penalty on long-term debt 0 (212,883)
Proceeds from issuance of convertible senior notes, net of issuance costs 0 1,979,166
Purchases of capped calls related to convertible senior notes 0 (100,200)
Proceeds from exercise of stock options 11,652 47,793
Change in funds payable and amounts payable to customers 2,396,635 1,867,080
Net cash provided by financing activities 2,203,519 1,455,526
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 3,398 (72,287)
Net increase in cash, cash equivalents, and restricted cash 3,211,939 817,329
Cash, cash equivalents, and restricted cash, beginning of period 9,727,289 7,668,252
Cash, cash equivalents, and restricted cash, end of period 12,939,228 8,485,581
Supplemental disclosures of cash flow information:    
Cash paid for income taxes, net of refunds 14,706 6,307
Cash paid for interest $ 2,600 $ 42,950