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| eBay Inc. | |
| Unaudited Condensed Consolidated Statement of Cash Flows | |
| (U.S. Dollars In Millions) | |
| Three Months Ended | |
| Year Ended December 31, | |
| Dec 31, | |
| Sep 30, | |
| Jun 30, | |
| Mar 31, | |
| Dec 31, | |
| Sep 30, | |
| Jun 30, | |
| Mar 31, | |
| 2022 | |
| 2021 | |
| 2022 | |
| 2022 | |
| 2022 | |
| 2022 | |
| 2021 | |
| 2021 | |
| 2021 | |
| 2021 | |
| Cash flows from operating activities: | |
| Net income (loss) | |
| $ | |
| 672 | |
| $ | |
| (69) | |
| $ | |
| (531) | |
| $ | |
| (1,341) | |
| $ | |
| 1,969 | |
| $ | |
| 264 | |
| $ | |
| 10,734 | |
| $ | |
| 641 | |
| $ | |
| (1,269) | |
| $ | |
| 13,608 | |
| (Income) loss from discontinued operations, net of income taxes | |
| (1) | |
| (1) | |
| (5) | |
| 2 | |
| (2,862) | |
| 19 | |
| (10,440) | |
| (73) | |
| (5) | |
| (13,356) | |
| Adjustments: | |
| Provision for transaction losses | |
| 81 | |
| 69 | |
| 86 | |
| 96 | |
| 119 | |
| 112 | |
| 103 | |
| 88 | |
| 332 | |
| 422 | |
| Depreciation and amortization | |
| 107 | |
| 104 | |
| 113 | |
| 118 | |
| 122 | |
| 119 | |
| 127 | |
| 134 | |
| 442 | |
| 502 | |
| Stock-based compensation | |
| 128 | |
| 118 | |
| 137 | |
| 111 | |
| 112 | |
| 127 | |
| 135 | |
| 103 | |
| 494 | |
| 477 | |
| Loss (gain) on investments and other, net | |
| 14 | |
| - | |
| 1 | |
| 6 | |
| (120) | |
| 5 | |
| (43) | |
| (1) | |
| 21 | |
| (159) | |
| Deferred income taxes | |
| 27 | |
| (112) | |
| (319) | |
| (376) | |
| (721) | |
| (65) | |
| 3 | |
| 103 | |
| (780) | |
| (680) | |
| Change in fair value of warrant | |
| (16) | |
| 27 | |
| 104 | |
| 115 | |
| 29 | |
| (311) | |
| (108) | |
| 36 | |
| 230 | |
| (354) | |
| Change in fair value of equity investment in Adevinta | |
| (282) | |
| 501 | |
| 829 | |
| 1,643 | |
| 1,573 | |
| 1,075 | |
| 422 | |
| - | |
| 2,691 | |
| 3,070 | |
| Change in fair value of equity investment in Adyen | |
| - | |
| (24) | |
| 39 | |
| 246 | |
| 10 | |
| - | |
| - | |
| - | |
| 261 | |
| 10 | |
| Change in fair value of equity investment in Gmarket | |
| (5) | |
| 40 | |
| 77 | |
| 182 | |
| 3 | |
| - | |
| - | |
| - | |
| 294 | |
| 3 | |
| Change in fair value of equity investment in KakaoBank | |
| (28) | |
| 50 | |
| 172 | |
| 99 | |
| 109 | |
| (595) | |
| - | |
| - | |
| 293 | |
| (486) | |
| Loss on impairment of equity investment in Paytm Mall | |
| - | |
| - | |
| - | |
| - | |
| 160 | |
| - | |
| - | |
| - | |
| - | |
| 160 | |
| Loss on extinguishment of debt | |
| - | |
| - | |
| - | |
| - | |
| - | |
| - | |
| - | |
| 10 | |
| - | |
| 10 | |
| Changes in assets and liabilities, net of acquisition effects | |
| (11) | |
| 32 | |
| (126) | |
| (272) | |
| (28) | |
| (89) | |
| 76 | |
| (93) | |
| (377) | |
| (134) | |
| Net cash provided by continuing operating activities | |
| 686 | |
| 735 | |
| 577 | |
| 629 | |
| 475 | |
| 661 | |
| 1,009 | |
| 948 | |
| 2,627 | |
| 3,093 | |
| Net cash provided by (used in) discontinued operating activities | |
| (2) | |
| (6) | |
| (349) | |
| (16) | |
| (182) | |
| (406) | |
| 58 | |
| 94 | |
| (373) | |
| (436) | |
| Net cash provided by operating activities | |
| 684 | |
| 729 | |
| 228 | |
| 613 | |
| 293 | |
| 255 | |
| 1,067 | |
| 1,042 | |
| 2,254 | |
| 2,657 | |
| Cash flows from investing activities: | |
| Purchases of property and equipment | |
| (153) | |
| (102) | |
| (111) | |
| (83) | |
| (103) | |
| (159) | |
| (99) | |
| (83) | |
| (449) | |
| (444) | |
| Purchases of investments | |
| (3,311) | |
| (5,077) | |
| (4,671) | |
| (5,475) | |
| (7,058) | |
| (5,427) | |
| (6,252) | |
| (3,424) | |
| (18,534) | |
| (22,161) | |
| Maturities and sales of investments | |
| 2,379 | |
| 5,066 | |
| 6,354 | |
| 6,827 | |
| 5,018 | |
| 6,987 | |
| 2,993 | |
| 3,772 | |
| 20,626 | |
| 18,770 | |
| Proceeds from sale of shares in Adevinta | |
| 8 | |
| - | |
| - | |
| - | |
| 2,325 | |
| - | |
| - | |
| - | |
| 8 | |
| 2,325 | |
| Proceeds from sale of shares in Adyen | |
| - | |
| 120 | |
| 207 | |
| 473 | |
| - | |
| - | |
| - | |
| - | |
| 800 | |
| - | |
| Proceeds from sale of shares in KakaoBank | |
| - | |
| - | |
| 260 | |
| 27 | |
| - | |
| 114 | |
| - | |
| - | |
| 287 | |
| 114 | |
| Acquisition of TCGplayer, net of cash acquired | |
| (208) | |
| - | |
| - | |
| - | |
| - | |
| - | |
| (208) | |
| - | |
| Settlement of foreign exchange derivative instruments in equity | |
| - | |
| - | |
| - | |
| - | |
| 85 | |
| - | |
| - | |
| - | |
| - | |
| 85 | |
| investments | |
| Exercise of options under warrant | |
| - | |
| - | |
| - | |
| - | |
| (110) | |
| - | |
| - | |
| - | |
| - | |
| (110) | |
| Other | |
| (9) | |
| (18) | |
| (47) | |
| 3 | |
| (9) | |
| 9 | |
| 2 | |
| 2 | |
| (71) | |
| 4 | |
| Net cash provided by (used in) continuing investing activities | |
| (1,294) | |
| (11) | |
| 1,992 | |
| 1,772 | |
| 148 | |
| 1,524 | |
| (3,356) | |
| 267 | |
| 2,459 | |
| (1,417) | |
| Net cash provided by (used in) discontinued investing activities | |
| - | |
| 2 | |
| - | |
| - | |
| 2,637 | |
| (1) | |
| 2,446 | |
| (2) | |
| 2 | |
| 5,080 | |
| Net cash provided by (used in) investing activities | |
| (1,294) | |
| (9) | |
| 1,992 | |
| 1,772 | |
| 2,785 | |
| 1,523 | |
| (910) | |
| 265 | |
| 2,461 | |
| 3,663 | |
| Cash flows from financing activities: | |
| Proceeds from issuance of common stock | |
| 32 | |
| - | |
| 54 | |
| 1 | |
| 36 | |
| - | |
| 57 | |
| - | |
| 87 | |
| 93 | |
| Three Months Ended | |
| Year Ended December 31, | |
| Dec 31, | |
| Sep 30, | |
| Jun 30, | |
| Mar 31, | |
| Dec 31, | |
| Sep 30, | |
| Jun 30, | |
| Mar 31, | |
| 2022 | |
| 2021 | |
| 2022 | |
| 2022 | |
| 2022 | |
| 2022 | |
| 2021 | |
| 2021 | |
| 2021 | |
| 2021 | |
| Repurchases of common stock | |
| (315) | |
| (286) | |
| (1,473) | |
| (1,069) | |
| (3,089) | |
| (2,233) | |
| (1,429) | |
| (304) | |
| (3,143) | |
| (7,055) | |
| Payments for taxes related to net share settlements of restricted | |
| (30) | |
| (32) | |
| (37) | |
| (61) | |
| (50) | |
| (58) | |
| (108) | |
| (20) | |
| (160) | |
| (236) | |
| stock units and awards | |
| Payments for dividends | |
| (119) | |
| (120) | |
| (121) | |
| (129) | |
| (107) | |
| (116) | |
| (121) | |
| (122) | |
| (489) | |
| (466) | |
| Proceeds from issuance of long-term debt, net | |
| 1,143 | |
| - | |
| - | |
| - | |
| - | |
| (4) | |
| 2,482 | |
| - | |
| 1,143 | |
| 2,478 | |
| Repayment of debt | |
| - | |
| - | |
| (605) | |
| (750) | |
| - | |
| - | |
| - | |
| (1,156) | |
| (1,355) | |
| (1,156) | |
| Net borrowings (repayments) under commercial paper program | |
| - | |
| - | |
| - | |
| - | |
| - | |
| - | |
| (400) | |
| 400 | |
| - | |
| - | |
| Net funds receivable and payable activity | |
| 33 | |
| 84 | |
| (48) | |
| 56 | |
| (99) | |
| (139) | |
| (67) | |
| 97 | |
| 125 | |
| (208) | |
| Other | |
| - | |
| - | |
| - | |
| - | |
| (1) | |
| (12) | |
| 2 | |
| 4 | |
| - | |
| (7) | |
| Net cash provided by (used in) continuing financing activities | |
| 744 | |
| (354) | |
| (2,230) | |
| (1,952) | |
| (3,310) | |
| (2,562) | |
| 416 | |
| (1,101) | |
| (3,792) | |
| (6,557) | |
| Net cash provided by (used in) discontinued financing activities | |
| - | |
| - | |
| - | |
| - | |
| 23 | |
| 64 | |
| 6 | |
| (68) | |
| - | |
| 25 | |
| Net cash provided by (used in) financing activities | |
| 744 | |
| (354) | |
| (2,230) | |
| (1,952) | |
| (3,287) | |
| (2,498) | |
| 422 | |
| (1,169) | |
| (3,792) | |
| (6,532) | |
| Effect of exchange rate changes on cash, cash equivalents and | |
| 32 | |
| (32) | |
| (39) | |
| (18) | |
| (6) | |
| 35 | |
| 6 | |
| (11) | |
| (57) | |
| 24 | |
| restricted cash | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | |
| 166 | |
| 334 | |
| (49) | |
| 415 | |
| (215) | |
| (685) | |
| 585 | |
| 127 | |
| 866 | |
| (188) | |
| Cash, cash equivalents and restricted cash at beginning of period | |
| 2,106 | |
| 1,772 | |
| 1,821 | |
| 1,406 | |
| 1,621 | |
| 2,306 | |
| 1,721 | |
| 1,594 | |
| 1,406 | |
| 1,594 | |
| Cash, cash equivalents and restricted cash at end of period | |
| $ | |
| 2,272 | |
| $ | |
| 2,106 | |
| $ | |
| 1,772 | |
| $ | |
| 1,821 | |
| $ | |
| 1,406 | |
| $ | |
| 1,621 | |
| $ | |
| 2,306 | |
| $ | |
| 1,721 | |
| $ | |
| 2,272 | |
| $ | |
| 1,406 | |
| Less: Cash and cash equivalents of discontinued operations | |
| - | |
| - | |
| - | |
| - | |
| - | |
| 352 | |
| 162 | |
| 199 | |
| - | |
| - | |
| Cash, cash equivalents and restricted cash of continuing operations at | |
| $ | |
| 2,272 | |
| $ | |
| 2,106 | |
| $ | |
| 1,772 | |
| $ | |
| 1,821 | |
| $ | |
| 1,406 | |
| $ | |
| 1,269 | |
| $ | |
| 2,144 | |
| $ | |
| 1,522 | |
| $ | |
| 2,272 | |
| $ | |
| 1,406 | |
| end of period | |
| eBay Inc. | |
| Unaudited Reconciliation of Operating Cash Flows to Free Cash Flow* | |
| (U.S. Dollars In Millions) | |
| Three Months Ended | |
| Year Ended | |
| December 31, | |
| Dec 31, | |
| Sep 30, | |
| Jun 30, | |
| Mar 31, | |
| Dec 31, | |
| Sep 30, | |
| Jun 30, | |
| Mar 31, | |
| 2022 | |
| 2021 | |
| 2022 | |
| 2022 | |
| 2022 | |
| 2022 | |
| 2021 | |
| 2021 | |
| 2021 | |
| 2021 | |
| Supplemental non-GAAP measure: | |
| Net cash provided by continuing operating activities | |
| $ | |
| 686 | |
| $ | |
| 735 | |
| $ | |
| 577 | |
| $ | |
| 629 | |
| $ | |
| 475 | |
| $ | |
| 661 | |
| $ | |
| 1,009 | |
| $ | |
| 948 | |
| $ | |
| 2,627 | |
| $ | |
| 3,093 | |
| Less: Purchases of property and equipment | |
| (153) | |
| (102) | |
| (111) | |
| (83) | |
| (103) | |
| (159) | |
| (99) | |
| (83) | |
| (449) | |
| (444) | |
| Free cash flow from continuing operations | |
| $ | |
| 533 | |
| $ | |
| 633 | |
| $ | |
| 466 | |
| $ | |
| 546 | |
| $ | |
| 372 | |
| $ | |
| 502 | |
| $ | |
| 910 | |
| $ | |
| 865 | |
| $ | |
| 2,178 | |
| $ | |
| 2,649 | |
| *Presented on a continuing operations basis | |
| Attachments | |
| Original Link | |
| Original Document | |
| Permalink | |
| Disclaimer | |
| eBay Inc. published this content on 22 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2023 21:18:07 UTC. | |