v3.24.1.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 264 $ 117
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 14 11
Stock-based compensation expense 295 240
Other, net 4 12
Changes in operating assets and liabilities:    
Prepaids and other assets 13 (32)
Accrued expenses and other liabilities 325 250
Unearned fees 1,008 989
Net cash provided by operating activities 1,923 1,587
Cash flows from investing activities:    
Purchases of short-term investments (826) (1,094)
Sales and maturities of short-term investments 756 917
Other investing activities, net (14) (6)
Net cash used in investing activities (84) (183)
Cash flows from financing activities:    
Taxes paid related to net share settlement of equity awards (155) (151)
Proceeds from exercise of equity awards 46 17
Repurchases of common stock (750) (493)
Change in funds payable and amounts payable to customers 2,993 2,913
Net cash provided by financing activities 2,134 2,286
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (111) 79
Net increase in cash, cash equivalents, and restricted cash 3,862 3,769
Cash, cash equivalents, and restricted cash, beginning of period 12,667 12,103
Cash, cash equivalents, and restricted cash, end of period 16,529 15,872
Supplemental disclosures of cash flow information:    
Cash paid for income taxes, net of refunds $ 29 $ 11