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.