test9

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-As of both December 31, 2023 and March 31, 2024, total outstanding debt, net of unamortized debt discount and debit issuance costs, was $2.0 billion. Interest expense was
-immaterial for both the three months ended March 31, 2023 and 2024.
-As of March 31, 2024, the if-converted value of the 2026 Notes did not exceed the outstanding principal amount.
-As of March 31, 2024, the total estimated fair value of the 2026 Notes was $1.9 billion and was determined based on a market approach using actual bids and offers of the 2026
-Notes in an over-the-counter market on the last trading day of the period, or Level 2 inputs.
-2022 Credit Facility

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-The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis (in millions):
-December 31, 2023
-Level 1 Level 2 Level 3 Total
-Assets
-Cash and cash equivalents:
-Money market funds $ 2,018 $ — $ — $ 2,018 
-Certificates of deposit — 1 — 1 
-Government bonds — 115 — 115 
-Commercial paper — 223 — 223 
-Corporate debt securities — 12 — 12 
-2,018 351 — 2,369 
-Short-term investments:
-Certificates of deposit — 172 — 172 
-Government bonds — 333 — 333 
-Commercial paper — 366 — 366 
-Corporate debt securities — 1,491 — 1,491 
-Mortgage-backed and asset-backed securities — 145 — 145

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-Short-term investments
-Debt securities:
-Certificates of deposit $ 172 $ — $ — $ 172 
-Government bonds 332 1 — 333 
-Commercial paper 366 — — 366 
-Corporate debt securities 1,490 4 (3) 1,491 
-Mortgage-backed and asset-backed securities 148 1 (4) 145 
-Total debt securities 2,508 6 (7) 2,507 
-Time deposits 690 — — 690 
-Total short-term investments $ 3,198 $ 6 $ (7)$ 3,197 
-Long-term investments 
-Debt securities:
-Corporate debt securities $ 13 $ — $ (9)$ 4 
-March 31, 2024
-Amortized
-CostGross
-Unrealized
-GainsGross
-Unrealized
-LossesTotal
-Estimated
-Fair Value
-Short-term investments
-Debt securities:

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-Table of Contents
-Airbnb, Inc.
-Notes to Condensed Consolidated Financial Statements (unaudited)
-Note 3. Supplemental Financial Statement Information
-Cash, Cash Equivalents, and Restricted Cash
-The following table reconciles cash, cash equivalents, and restricted cash reported on the Company’s unaudited condensed consolidated balance sheets to the total amount
-presented in the unaudited condensed consolidated statements of cash flows (in millions):
-December 31,
-2023March 31,
-2024
-Cash and cash equivalents $ 6,874 $ 7,829 
-Cash and cash equivalents included in funds receivable and amounts held on behalf of customers 5,769 8,665 
-Restricted cash included in prepaids and other current assets 24 35 
-Total cash, cash equivalents, and restricted cash presented in the unaudited condensed consolidated statements of cash flows $ 12,667 $ 16,529

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-Table of Contents
-Item 5. Other Information
-Director and Officer 10b5-1 Trading Plans (“10b5-1 Plans”)
-The following table sets forth the material terms of 10b5-1 Plans intended to satisfy the affirmative defense conditions of Rule 10b5–1(c) that were adopted, terminated, or modified
-by our directors and officers during the three months ended March 31, 2024:
-Name and Title of Director or Officer Action  Date Expiration DateMaximum Number of
-Shares to be Sold
-Under the Plan
-David Bernstein, Chief Accounting Officer Adopt 2/22/2024 1/27/2025 41,000
-Brian Chesky, Chief Executive Officer and Director Adopt 2/28/2024 11/11/2024 1,146,000

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-(1)Includes broker commissions.
-(2)On May 9, 2023 and February 13, 2024, we announced that our board of directors approved share repurchase programs with authorization to purchase up to $2.5 billion and
-$6.0 billion of our Class A common stock, respectively, at management’s discretion. The Company has repurchased the full amount of shares authorized for repurchase under
-the May 2023 repurchase program. The share repurchase programs do not have an expiration date, do not obligate us to repurchase any specific number of shares, and may
-be modified, suspended or terminated at any time at our discretion.
-Item 3. Defaults Upon Senior Securities
-None.
-Item 4. Mine Safety Disclosures
-Not applicable.(1) (2)
-29

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-Table of Contents
-Airbnb, Inc.
-Notes to Condensed Consolidated Financial Statements (unaudited)
-Additionally, the following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive (in millions):
-Three Months Ended
-March 31,
-2023 2024
-Stock options 1 2 
-RSUs 8 4 
-Total 9 6 
-Share Repurchase Program
-In May 2023 and February 2024, the Company announced that its board of directors approved share repurchase programs to purchase up to $2.5 billion and $6.0 billion of the
-Company’s Class A common stock, respectively.
-Share repurchases under these share repurchase programs may be made through a variety of methods, such as open market purchases, privately negotiated transactions, block

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-trades or accelerated share repurchase transactions or by any combination of such methods. Any such repurchases will be made from time to time subject to market and economic
-conditions, applicable legal requirements and other relevant factors. These share repurchase programs do not obligate the Company to repurchase any specific number of shares
-and may be modified, suspended or terminated at any time at the Company’s discretion.
-During the three months ended March 31, 2024, the Company repurchased and subsequently retired 4.7 million shares of Class A common stock for $750 million, which completed
-the repurchases authorized under the share repurchase program announced in May 2023. As of March 31, 2024, the Company had $6.0 billion available to repurchase shares of
-Class A common stock under its share repurchase program.
-19

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-As of both December 31, 2023 and March 31, 2024, total outstanding debt, net of unamortized debt discount and debit issuance costs, was $2.0 billion. Interest expense was
-immaterial for both the three months ended March 31, 2023 and 2024.
-As of March 31, 2024, the if-converted value of the 2026 Notes did not exceed the outstanding principal amount.
-As of March 31, 2024, the total estimated fair value of the 2026 Notes was $1.9 billion and was determined based on a market approach using actual bids and offers of the 2026
-Notes in an over-the-counter market on the last trading day of the period, or Level 2 inputs.
-2022 Credit Facility

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-Table of Contents
-Airbnb, Inc.
-Notes to Condensed Consolidated Financial Statements (unaudited)
-Note 3. Supplemental Financial Statement Information
-Cash, Cash Equivalents, and Restricted Cash
-The following table reconciles cash, cash equivalents, and restricted cash reported on the Company’s unaudited condensed consolidated balance sheets to the total amount
-presented in the unaudited condensed consolidated statements of cash flows (in millions):
-December 31,
-2023March 31,
-2024
-Cash and cash equivalents $ 6,874 $ 7,829 
-Cash and cash equivalents included in funds receivable and amounts held on behalf of customers 5,769 8,665 
-Restricted cash included in prepaids and other current assets 24 35 
-Total cash, cash equivalents, and restricted cash presented in the unaudited condensed consolidated statements of cash flows $ 12,667 $ 16,529

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-Short-term investments
-Debt securities:
-Certificates of deposit $ 172 $ — $ — $ 172 
-Government bonds 332 1 — 333 
-Commercial paper 366 — — 366 
-Corporate debt securities 1,490 4 (3) 1,491 
-Mortgage-backed and asset-backed securities 148 1 (4) 145 
-Total debt securities 2,508 6 (7) 2,507 
-Time deposits 690 — — 690 
-Total short-term investments $ 3,198 $ 6 $ (7)$ 3,197 
-Long-term investments 
-Debt securities:
-Corporate debt securities $ 13 $ — $ (9)$ 4 
-March 31, 2024
-Amortized
-CostGross
-Unrealized
-GainsGross
-Unrealized
-LossesTotal
-Estimated
-Fair Value
-Short-term investments
-Debt securities:

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-The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis (in millions):
-December 31, 2023
-Level 1 Level 2 Level 3 Total
-Assets
-Cash and cash equivalents:
-Money market funds $ 2,018 $ — $ — $ 2,018 
-Certificates of deposit — 1 — 1 
-Government bonds — 115 — 115 
-Commercial paper — 223 — 223 
-Corporate debt securities — 12 — 12 
-2,018 351 — 2,369 
-Short-term investments:
-Certificates of deposit — 172 — 172 
-Government bonds — 333 — 333 
-Commercial paper — 366 — 366 
-Corporate debt securities — 1,491 — 1,491 
-Mortgage-backed and asset-backed securities — 145 — 145

aim_midterm

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-Subproject commit 456a90e0810eb3fb0589d252ebc2254c7120a061