PayPal (PYPL) 10-Q 1 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-36859
Entity Registrant Name	PayPal Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-2989869
Entity Address, Address Line One	2211 North First Street
Entity Address, City or Town	San Jose,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95131
City Area Code	408
Local Phone Number	967-1000
Title of 12(b) Security	Common stock, $0.0001 par value per share
Entity Trading Symbol	PYPL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		1,078,140,224
Entity Central Index Key	0001633917
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 6,816	$ 7,776
Short-term investments	4,731	3,092
Accounts receivable, net	988	963
Loans and interest receivable, held for sale	2,165	0
Loans and interest receivable, net of allowances of $555 and $598 as of September 30, 2023 and December 31, 2022, respectively	5,066	7,431
Funds receivable and customer accounts	34,641	36,264
Prepaid expenses and other current assets	2,228	1,898
Total current assets	56,635	57,424
Long-term investments	3,855	5,018
Property and equipment, net	1,529	1,730
Goodwill	10,935	11,209
Intangible assets, net	564	788
Other assets	2,922	2,455
Total assets	76,440	78,624
Current liabilities:
Accounts payable	131	126
Funds payable and amounts due to customers	38,641	40,014
Accrued expenses and other current liabilities	3,533	4,055
Income taxes payable	1,137	813
Total current liabilities	43,442	45,008
Deferred tax liability and other long-term liabilities	2,618	2,925
Long-term debt	10,640	10,417
Total liabilities	56,700	58,350
Commitments and contingencies (Note 13)
Equity:
Common stock, $0.0001 par value; 4,000 shares authorized; 1,080 and 1,136 shares outstanding as of September 30, 2023 and December 31, 2022, respectively	0	0
Preferred stock, $0.0001 par value; 100 shares authorized, unissued	0	0
Treasury stock at cost, 237 and 173 shares as of September 30, 2023 and December 31, 2022, respectively	(20,513)	(16,079)
Additional paid-in-capital	19,307	18,327
Retained earnings	21,798	18,954
Accumulated other comprehensive income (loss)	(852)	(928)
Total equity	19,740	20,274
Total liabilities and equity	$ 76,440	$ 78,624

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Loans and interest receivable, allowances	$ 555	$ 598
Equity:
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	4,000,000,000	4,000,000,000
Common stock, shares outstanding (in shares)	1,080,000,000	1,136,000,000
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Treasury stock, shares (in shares)	237,000,000	173,000,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net revenues	$ 7,418	$ 6,846	$ 21,745	$ 20,135
Operating expenses:
Transaction expense	3,603	2,988	10,427	8,849
Transaction and credit losses	446	367	1,286	1,184
Customer support and operations	474	509	1,454	1,579
Sales and marketing	442	544	1,343	1,733
Technology and development	739	801	2,203	2,431
General and administrative	507	463	1,505	1,584
Restructuring and other charges	39	56	227	182
Total operating expenses	6,250	5,728	18,445	17,542
Operating income	1,168	1,118	3,300	2,593
Other income (expense), net	73	460	318	(337)
Income before income taxes	1,241	1,578	3,618	2,256
Income tax expense	221	248	774	758
Net income (loss)	$ 1,020	$ 1,330	$ 2,844	$ 1,498
Net income (loss) per share:
Basic (in dollars per share)	$ 0.93	$ 1.15	$ 2.56	$ 1.29
Diluted (in dollars per share)	$ 0.93	$ 1.15	$ 2.55	$ 1.29
Weighted average shares:
Basic (in shares)	1,094	1,154	1,111	1,159
Diluted (in shares)	1,098	1,157	1,115	1,163

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 1,020	$ 1,330	$ 2,844	$ 1,498
Other comprehensive income (loss), net of reclassification adjustments:
Foreign currency translation adjustments (“CTA”)	(70)	(206)	(306)	(601)
Net investment hedges CTA gains, net	35	97	231	253
Tax expense on net investment hedges CTA gains, net	(8)	(23)	(53)	(59)
Unrealized gains (losses) on cash flow hedges, net	109	138	(25)	348
Tax (expense) benefit on unrealized gains (losses) on cash flow hedges, net	(6)	(7)	1	(18)
Unrealized gains (losses) on investments, net	110	(157)	298	(614)
Tax (expense) benefit on unrealized gains (losses) on investments, net	(26)	41	(70)	146
Other comprehensive income (loss), net of tax	144	(117)	76	(545)
Comprehensive income (loss)	$ 1,164	$ 1,213	$ 2,920	$ 953

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock Shares	Treasury Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Beginning balance (in shares) at Dec. 31, 2021		1,168
Beginning balance at Dec. 31, 2021	$ 21,727		$ (11,880)	$ 17,208	$ (136)	$ 16,535
Increase (Decrease) in Stockholders' Equity
Net income (loss)	509					509
Foreign CTA	(95)				(95)
Net investment hedges CTA gains, net	21				21
Tax expense on net investment hedges CTA gains, net	(5)				(5)
Unrealized gains (losses) on cash flow hedges, net	(3)				(3)
Unrealized gains (losses) on investments, net	(293)				(293)
Tax (expense) benefit on unrealized gains (losses) on investments, net	67				67
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes (in shares)		4
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes	(273)			(273)
Common stock repurchased (in shares)		(11)
Common stock repurchased	(1,500)		(1,500)
Stock-based compensation	447			447
Other	1			1
Ending balance (in shares) at Mar. 31, 2022		1,161
Ending balance at Mar. 31, 2022	20,603		(13,380)	17,383	(444)	17,044
Beginning balance (in shares) at Dec. 31, 2021		1,168
Beginning balance at Dec. 31, 2021	21,727		(11,880)	17,208	(136)	16,535
Increase (Decrease) in Stockholders' Equity
Net income (loss)	1,498
Foreign CTA	(601)
Net investment hedges CTA gains, net	253
Tax expense on net investment hedges CTA gains, net	(59)
Unrealized gains (losses) on cash flow hedges, net	348
Tax benefit (expense) on unrealized gains (losses) on cash flow hedges, net	(18)
Unrealized gains (losses) on investments, net	(614)
Tax (expense) benefit on unrealized gains (losses) on investments, net	146
Ending balance (in shares) at Sep. 30, 2022		1,147
Ending balance at Sep. 30, 2022	20,264		(15,069)	17,981	(681)	18,033
Beginning balance (in shares) at Mar. 31, 2022		1,161
Beginning balance at Mar. 31, 2022	20,603		(13,380)	17,383	(444)	17,044
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(341)					(341)
Foreign CTA	(300)				(300)
Net investment hedges CTA gains, net	135				135
Tax expense on net investment hedges CTA gains, net	(31)				(31)
Unrealized gains (losses) on cash flow hedges, net	213				213
Tax benefit (expense) on unrealized gains (losses) on cash flow hedges, net	(11)				(11)
Unrealized gains (losses) on investments, net	(164)				(164)
Tax (expense) benefit on unrealized gains (losses) on investments, net	38				38
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes (in shares)		3
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes	51			51
Common stock repurchased (in shares)		(8)
Common stock repurchased	(750)		(750)
Stock-based compensation	324			324
Ending balance (in shares) at Jun. 30, 2022		1,156
Ending balance at Jun. 30, 2022	19,767		(14,130)	17,758	(564)	16,703
Increase (Decrease) in Stockholders' Equity
Net income (loss)	1,330					1,330
Foreign CTA	(206)				(206)
Net investment hedges CTA gains, net	97				97
Tax expense on net investment hedges CTA gains, net	(23)				(23)
Unrealized gains (losses) on cash flow hedges, net	138				138
Tax benefit (expense) on unrealized gains (losses) on cash flow hedges, net	(7)				(7)
Unrealized gains (losses) on investments, net	(157)				(157)
Tax (expense) benefit on unrealized gains (losses) on investments, net	41				41
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes (in shares)		1
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes	(14)			(14)
Common stock repurchased (in shares)		(10)
Common stock repurchased	(939)		(939)
Stock-based compensation	237			237
Ending balance (in shares) at Sep. 30, 2022		1,147
Ending balance at Sep. 30, 2022	$ 20,264		(15,069)	17,981	(681)	18,033
Beginning balance (in shares) at Dec. 31, 2022	1,136	1,136
Beginning balance at Dec. 31, 2022	$ 20,274		(16,079)	18,327	(928)	18,954
Increase (Decrease) in Stockholders' Equity
Net income (loss)	795					795
Foreign CTA	(20)				(20)
Net investment hedges CTA gains, net	27				27
Tax expense on net investment hedges CTA gains, net	(6)				(6)
Unrealized gains (losses) on cash flow hedges, net	(111)				(111)
Tax benefit (expense) on unrealized gains (losses) on cash flow hedges, net	6				6
Unrealized gains (losses) on investments, net	175				175
Tax (expense) benefit on unrealized gains (losses) on investments, net	(41)				(41)
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes (in shares)		5
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes	(157)			(157)
Common stock repurchased (in shares)		(19)
Common stock repurchased	(1,443)		(1,443)
Stock-based compensation	359			359
Ending balance (in shares) at Mar. 31, 2023		1,122
Ending balance at Mar. 31, 2023	$ 19,858		(17,522)	18,529	(898)	19,749
Beginning balance (in shares) at Dec. 31, 2022	1,136	1,136
Beginning balance at Dec. 31, 2022	$ 20,274		(16,079)	18,327	(928)	18,954
Increase (Decrease) in Stockholders' Equity
Net income (loss)	2,844
Foreign CTA	(306)
Net investment hedges CTA gains, net	231
Tax expense on net investment hedges CTA gains, net	(53)
Unrealized gains (losses) on cash flow hedges, net	(25)
Tax benefit (expense) on unrealized gains (losses) on cash flow hedges, net	1
Unrealized gains (losses) on investments, net	298
Tax (expense) benefit on unrealized gains (losses) on investments, net	$ (70)
Ending balance (in shares) at Sep. 30, 2023	1,080	1,080
Ending balance at Sep. 30, 2023	$ 19,740		(20,513)	19,307	(852)	21,798
Beginning balance (in shares) at Mar. 31, 2023		1,122
Beginning balance at Mar. 31, 2023	19,858		(17,522)	18,529	(898)	19,749
Increase (Decrease) in Stockholders' Equity
Net income (loss)	1,029					1,029
Foreign CTA	(216)				(216)
Net investment hedges CTA gains, net	169				169
Tax expense on net investment hedges CTA gains, net	(39)				(39)
Unrealized gains (losses) on cash flow hedges, net	(23)				(23)
Tax benefit (expense) on unrealized gains (losses) on cash flow hedges, net	1				1
Unrealized gains (losses) on investments, net	13				13
Tax (expense) benefit on unrealized gains (losses) on investments, net	(3)				(3)
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes (in shares)		2
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes	39			39
Common stock repurchased (in shares)		(22)
Common stock repurchased	(1,542)		(1,542)
Stock-based compensation	375			375
Ending balance (in shares) at Jun. 30, 2023		1,102
Ending balance at Jun. 30, 2023	19,661		(19,064)	18,943	(996)	20,778
Increase (Decrease) in Stockholders' Equity
Net income (loss)	1,020					1,020
Foreign CTA	(70)				(70)
Net investment hedges CTA gains, net	35				35
Tax expense on net investment hedges CTA gains, net	(8)				(8)
Unrealized gains (losses) on cash flow hedges, net	109				109
Tax benefit (expense) on unrealized gains (losses) on cash flow hedges, net	(6)				(6)
Unrealized gains (losses) on investments, net	110				110
Tax (expense) benefit on unrealized gains (losses) on investments, net	(26)				(26)
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes (in shares)		1
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes	(28)			(28)
Common stock repurchased (in shares)		(23)
Common stock repurchased	(1,449)		(1,449)
Stock-based compensation	$ 392			392
Ending balance (in shares) at Sep. 30, 2023	1,080	1,080
Ending balance at Sep. 30, 2023	$ 19,740		$ (20,513)	$ 19,307	$ (852)	$ 21,798

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 2,844	$ 1,498
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Transaction and credit losses	1,286	1,184
Depreciation and amortization	809	991
Stock-based compensation	1,087	967
Deferred income taxes	(439)	(538)
Net (gains) losses on strategic investments	(205)	163
Adjustments to loans and interest receivable, held for sale	49	0
Other	(267)	514
Originations of loans receivable, held for sale	(5,705)	0
Proceeds from repayments of loans receivable, originally classified as held for sale	3,676	0
Changes in assets and liabilities:
Accounts receivable	(35)	(89)
Accounts payable	(6)	(55)
Income taxes payable	(31)	109
Other assets and liabilities	(834)	(522)
Net cash provided by operating activities	2,229	4,222
Cash flows from investing activities:
Purchases of property and equipment	(478)	(548)
Proceeds from sales of property and equipment	44	5
Purchases and originations of loans receivable	(19,802)	(19,167)
Proceeds from repayments of loans receivable, originally classified as held for investment	21,319	17,164
Purchases of investments	(14,975)	(16,455)
Maturities and sales of investments	16,110	16,770
Funds receivable	(1,016)	(1,085)
Collateral posted related to derivative instruments, net	8	(3)
Other investing activities	76	30
Net cash provided by (used in) investing activities	1,286	(3,289)
Cash flows from financing activities:
Proceeds from issuance of common stock	82	86
Purchases of treasury stock	(4,395)	(3,189)
Tax withholdings related to net share settlements of equity awards	(225)	(321)
Borrowings under financing arrangements	829	3,346
Repayments under financing arrangements	(942)	(1,686)
Funds payable and amounts due to customers	(1,277)	(659)
Collateral received related to derivative instruments, net	(65)	437
Other financing activities	0	1
Net cash (used in) provided by financing activities	(5,993)	(1,985)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(95)	(253)
Net change in cash, cash equivalents, and restricted cash	(2,573)	(1,305)
Cash, cash equivalents, and restricted cash at beginning of period	19,156	18,029
Cash, cash equivalents, and restricted cash at end of period	16,583	16,724
Supplemental cash flow disclosures:
Cash paid for interest	167	114
Cash paid for income taxes, net	1,058	666
The table below reconciles cash, cash equivalents, and restricted cash as reported in the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows:
Cash and cash equivalents	6,816	6,659
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows	16,583	16,724
Short-term investments
The table below reconciles cash, cash equivalents, and restricted cash as reported in the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows:
Restricted cash	6	21
Funds receivable and customer accounts
The table below reconciles cash, cash equivalents, and restricted cash as reported in the condensed consolidated balance sheets to the total of the same amounts shown in the condensed consolidated statements of cash flows:
Restricted cash	$ 9,761	$ 10,044

OVERVIEW AND SUMMARY OF SIGNIFI

OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES OVERVIEW AND ORGANIZATION PayPal Holdings, Inc. (“PayPal,” the “Company,” “we,” “us,” or “our”) was incorporated in Delaware in January 2015 and is a leading technology platform that enables digital payments and simplifies commerce experiences on behalf of merchants and consumers worldwide. PayPal is committed to democratizing financial services to help improve the financial health of individuals and to increase economic opportunity for entrepreneurs and businesses of all sizes around the world. Our goal is to enable our merchants and consumers to manage and move their money anywhere in the world in the markets we serve, anytime, on any platform, and using any device when sending payments or getting paid, including person-to-person payments. We operate globally and in a rapidly evolving regulatory environment characterized by a heightened focus by regulators globally on all aspects of the payments industry, including countering terrorist financing, anti-money laundering, privacy, cybersecurity, and consumer protection. The laws and regulations applicable to us, including those enacted prior to the advent of digital payments, continue to evolve through legislative and regulatory action and judicial interpretation. New or changing laws and regulations, including changes to their interpretation and implementation, as well as increased penalties and enforcement actions related to non-compliance, could have a material adverse impact on our business, results of operations, and financial condition. We monitor these areas closely and are focused on designing compliant solutions for our customers. SIGNIFICANT ACCOUNTING POLICIES Basis of presentation and principles of consolidation The accompanying condensed consolidated financial statements include the financial statements of PayPal and our wholly- and majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Investments in entities where we have the ability to exercise significant influence, but not control, over the investee are accounted for using the equity method of accounting. For such investments, our share of the investee’s results of operations is included in other income (expense), net on our condensed consolidated statements of income (loss). Investments in entities where we do not have the ability to exercise significant influence over the investee are accounted for at fair value or cost minus impairment, if any, adjusted for changes resulting from observable price changes, which are included in other income (expense), net on our condensed consolidated statements of income (loss). Our investment balance is included in long-term investments on our condensed consolidated balance sheets. We determine at the inception of each investment, and re-evaluate if certain events occur, whether an entity in which we have made an investment is considered a variable interest entity (“VIE”). If we determine an investment is in a VIE, we then assess if we are the primary beneficiary, which would require consolidation. As of September 30, 2023 and December 31, 2022, no VIEs qualified for consolidation as the structures of these entities do not provide us with the ability to direct activities that would significantly impact their economic performance. As of September 30, 2023 and December 31, 2022, the carrying value of our investments in nonconsolidated VIEs was $160 million and $128 million, respectively, and is included as non-marketable equity securities applying the equity method of accounting in long-term investments on our condensed consolidated balance sheets. Our maximum exposure to loss related to our nonconsolidated VIEs, which represents funded commitments and any future funding commitments, was $246 million and $232 million as of September 30, 2023 and December 31, 2022, respectively. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”) filed with the United States (“U.S.”) Securities and Exchange Commission (“SEC”) on February 10, 2023. In the opinion of management, these condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair statement of the condensed consolidated financial statements for all interim periods presented. Certain amounts for prior periods have been reclassified to conform to the financial statement presentation as of and for the three and nine months ended September 30, 2023. Reclassifications Beginning with the fourth quarter of 2022, we reclassified certain cash flows related to our collateral security arrangements for derivative instruments from cash flows from operating activities to cash flows from investing activities and cash flows from financing activities within the condensed consolidated statements of cash flows. Prior period amounts have been reclassified to conform to the current period presentation. The current period presentation classifies all changes in collateral posted and collateral received related to derivative instruments on our condensed consolidated statements of cash flows as cash flows from investing activities and cash flows from financing activities, respectively. We believe that the current period presentation provides a more meaningful representation of the nature of the cash flows and allows for greater transparency as the cash flows related to the derivatives impact operating cash flows upon settlement exclusive of the offsetting cash flows from collateral. The following table presents the effects of the changes on the presentation of these cash flows to the previously reported condensed consolidated statements of cash flows: Nine Months Ended September 30, 2022 (In millions) As Previously Reported (1) Adjustments Reclassified Net cash provided by (used in): Operating activities (2) $ 4,656 $ (434) $ 4,222 Investing activities (3) (3,286) (3) (3,289) Financing activities (4) (2,422) 437 (1,985) Effect of exchange rates on cash, cash equivalents, and restricted cash (253) — (253) Net decrease in cash, cash equivalents, and restricted cash $ (1,305) $ — $ (1,305) (1) As reported in our Form 10-Q for the quarter ended September 30, 2022 filed with the SEC on November 4, 2022. (2) Financial statement line impacted in operating activities was “Other assets and liabilities.” (3) Financial statement line impacted in investing activities was “Collateral posted related to derivative instruments, net.” (4) Financial statement line impacted in financing activities was “Collateral received related to derivative instruments, net.” Use of estimates The preparation of condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to provisions for transaction and credit losses, income taxes, loss contingencies, revenue recognition, the valuation of goodwill and intangible assets, and the valuation of strategic investments. We base our estimates on historical experience and various other assumptions which we believe to be reasonable under the circumstances. Actual results could materially differ from these estimates. Loans and interest receivable, held for sale Loans and interest receivable, held for sale, represents a portion of our installment consumer receivables that we intend to sell. This portfolio includes the substantial majority of the United Kingdom (“U.K.”) and other European buy now, pay later loan receivables. In June 2023, we entered into a multi-year agreement with a global investment firm to sell up to €40 billion of U.K. and other European buy now, pay later loan receivables, consisting of eligible loans and interest receivable, held for sale at the closing of the transaction and a forward-flow arrangement for the sale of future originations of eligible loans over a 24-month commitment period (together, “eligible consumer installment receivables”). Following the closing of this transaction, which is expected to occur in the fourth quarter of 2023, the global investment firm will become the owner of the eligible consumer installment receivables and we will no longer hold an ownership interest in these receivables. We will maintain the servicing rights and receive a servicing fee for the entire pool of the eligible consumer installment receivables outstanding. Loans and interest receivable, held for sale are recorded at the lower of cost or fair value, determined on an aggregate basis, with valuation changes and any associated charge-offs recorded in restructuring and other charges on our condensed consolidated statements of income (loss). Prior to the decision to sell, this portfolio was reported at outstanding principal balances, net of allowances, including unamortized deferred origination costs and estimated collectible interest and fees. At the time of reclassification, any previously recorded allowance for credit losses for loans and interest receivable outstanding was reversed, resulting in a decrease of approximately $33 million in transaction and credit losses in our condensed consolidated statements of income (loss) for the nine months ended September 30, 2023. Interest income on interest bearing held-for-sale loans is accrued and recognized based on the contractual rate of interest. Recently adopted accounting guidance In March 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-02, Troubled Debt Restructurings (“TDRs”) and Vintage Disclosures (Topic 326): Financial Instruments – Credit Losses . This amended guidance eliminated the accounting designation of a loan modification as a TDR and the measurement guidance for TDRs. The amendments also enhanced existing disclosure requirements and introduced new requirements related to modifications of receivables due from borrowers experiencing financial difficulty. Additionally, this guidance required entities to disclose gross charge-offs by year of origination for financing receivables, such as loans and interest receivable. The amended guidance was effective for fiscal years beginning after December 15, 2022 and was required to be applied prospectively, except for the recognition and measurement of TDRs, which could be applied on a modified retrospective basis. We adopted this guidance effective January 1, 2023 on a prospective basis. Our financial statements were not materially impacted upon adoption. For additional information, see “Note 11—Loans and Interest Receivable.” There are other new accounting pronouncements issued by the FASB that we have adopted or will adopt, as applicable. We do not believe any of these accounting pronouncements have had, or will have, a material impact on our condensed consolidated financial statements or disclosures.

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE We enable our customers to send and receive payments. We earn revenue primarily by completing payment transactions for our customers on our payments platform and from other value added services. Our revenues are classified into two categories: transaction revenues and revenues from other value added services. DISAGGREGATION OF REVENUE We determine operating segments based on how our chief operating decision maker (“CODM”) manages the business, makes operating decisions around the allocation of resources, and evaluates operating performance. Our CODM is our Chief Executive Officer, who regularly reviews our operating results on a consolidated basis. We operate as one segment and have one reportable segment. Based on the information provided to and reviewed by our CODM, we believe that the nature, amount, timing, and uncertainty of our revenue and cash flows and how they are affected by economic factors are most appropriately depicted through our primary geographical markets and types of revenue categories (transaction revenues and revenues from other value added services). Revenues recorded within these categories are earned from similar products and services for which the nature of associated fees and the related revenue recognition models are substantially the same. The following table presents our revenue disaggregated by primary geographical market and category: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Primary geographical markets U.S. $ 4,257 $ 3,978 $ 12,614 $ 11,512 Other countries (1) 3,161 2,868 9,131 8,623 Total net revenues (2) $ 7,418 $ 6,846 $ 21,745 $ 20,135 Revenue category Transaction revenues $ 6,654 $ 6,234 $ 19,574 $ 18,504 Revenues from other value added services 764 612 2,171 1,631 Total net revenues (2) $ 7,418 $ 6,846 $ 21,745 $ 20,135 (1) No single country included in the other countries category generated more than 10% of total net revenues. (2) Total net revenues include $433 million and $391 million for the three months ended September 30, 2023 and 2022, respectively, and $1.3 billion and $874 million for the nine months ended September 30, 2023 and 2022, respectively, which do not represent revenues recognized in the scope of Accounting Standards Codification Topic 606, Revenue from contracts with customers . Such revenues relate to interest and fees earned on loans and interest receivable, including loans and interest receivable held for sale, hedging gains or losses, and interest earned on certain assets underlying customer balances. Net revenues are attributed to the country in which the party paying our fee is located.

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARE	NET INCOME (LOSS) PER SHARE Basic net income (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding for the period. The dilutive effect of outstanding equity incentive awards is reflected in diluted net income (loss) per share by application of the treasury stock method. The calculation of diluted net income (loss) per share excludes all anti-dilutive common shares. During periods when we report net loss, diluted net loss per share is the same as basic net loss per share because the effects of potentially dilutive items would decrease the net loss per share. The following table sets forth the computation of basic and diluted net income (loss) per share for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions, except per share amounts) Numerator: Net income (loss) $ 1,020 $ 1,330 $ 2,844 $ 1,498 Denominator: Weighted average shares of common stock - basic 1,094 1,154 1,111 1,159 Dilutive effect of equity incentive awards 4 3 4 4 Weighted average shares of common stock - diluted 1,098 1,157 1,115 1,163 Net income (loss) per share: Basic $ 0.93 $ 1.15 $ 2.56 $ 1.29 Diluted $ 0.93 $ 1.15 $ 2.55 $ 1.29 Common stock equivalents excluded from income (loss) per diluted share because their effect would have been anti-dilutive or potentially dilutive 22 14 20 13

BUSINESS COMBINATIONS AND DIVES

BUSINESS COMBINATIONS AND DIVESTITURES	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
BUSINESS COMBINATIONS AND DIVESTITURES	BUSINESS COMBINATIONS AND DIVESTITURESThere were no acquisitions accounted for as business combinations or divestitures completed in the three and nine months ended September 30, 2023 and 2022. In September 2023, we entered into a definitive agreement to sell Happy Returns to United Parcel Services, Inc. for approximately $465 million in cash. The sale of Happy Returns will enable us to focus on our core business and priorities. The transaction closed in the fourth quarter of 2023, and we expect to record a pre-tax gain of approximately $329 million, net of expected transaction costs, in restructuring and other charges on the condensed consolidated statements of income (loss) in that period. We concluded that Happy Returns meets the criteria to be classified as held for sale and measured at the lower of its carrying amount or fair value less cost to sell as of September 30, 2023. The assets held for sale consist primarily of $81 million of goodwill and $13 million of net intangible assets, which are presented within prepaid expenses and other current assets on our condensed consolidated balance sheets as of September 30, 2023. No impairment charges were required in the three months ended September 30, 2023. The sale does not represent a strategic shift that would have a major effect on our operations and financial results, and therefore is not reported as a discontinued operation.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS GOODWILL The following table presents goodwill balances and adjustments to those balances during the nine months ended September 30, 2023: December 31, Goodwill Acquired Adjustments September 30, (In millions) Total goodwill $ 11,209 $ — $ (274) $ 10,935 The adjustments to goodwill during the nine months ended September 30, 2023 pertained to foreign currency translation adjustments and reclassification of $81 million of goodwill to assets held for sale described in “Note 4—Business Combinations and Divestitures.” INTANGIBLE ASSETS The components of identifiable intangible assets were as follows: September 30, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Useful Life (Years) (In millions, except years) Intangible assets: Customer lists and user base $ 1,521 $ (1,099) $ 422 7 $ 1,664 $ (1,092) $ 572 7 Marketing related 383 (345) 38 5 395 (339) 56 5 Developed technology 1,011 (991) 20 3 1,099 (1,048) 51 3 All other 428 (344) 84 7 438 (329) 109 7 Intangible assets, net $ 3,343 $ (2,779) $ 564 $ 3,596 $ (2,808) $ 788 In the three and nine months ended September 30, 2023, we reclassified approximately $36 million of gross intangible assets, with a net carrying amount of $13 million as assets held for sale as described in “Note 4—Business Combinations and Divestitures.” In the three months ended September 30, 2023, we retired approximately $49 million of fully amortized intangible assets, of which $35 million and $14 million were included in developed technology and customer lists and user base, respectively. In the nine months ended September 30, 2023, we retired approximately $141 million of fully amortized intangible assets, of which $79 million and $62 million were included in customer lists and user base and developed technology, respectively. Amortization expense for intangible assets was $57 million and $118 million for the three months ended September 30, 2023 and 2022, respectively. Amortization expense for intangible assets was $172 million and $356 million for the nine months ended September 30, 2023 and 2022, respectively. Expected future intangible asset amortization as of September 30, 2023 was as follows (in millions): Fiscal years: Remaining 2023 $ 48 2024 178 2025 148 2026 91 2027 56 Thereafter 43 Total $ 564

LEASES

LEASES	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
LEASES	LEASES PayPal enters into various leases, which are primarily real estate operating leases. We use these properties for executive and administrative offices, data centers, product development offices, customer services and operations centers, and warehouses. While a majority of our lease agreements do not contain an explicit interest rate, certain of our lease agreements are subject to changes based on the Consumer Price Index or another referenced index. In the event of changes to the relevant index, lease liabilities are not remeasured and instead are treated as variable lease payments and recognized in the period in which the obligation for those payments is incurred. The short-term lease exemption has been adopted for all leases with a duration of less than 12 months. PayPal’s lease portfolio includes a small number of subleases. A sublease situation can arise when currently leased real estate space is available and is surplus to operational requirements. As of September 30, 2023, we had no finance leases. The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Lease expense Operating lease expense $ 39 $ 43 $ 119 $ 128 Sublease income (2) (2) (6) (6) Lease expense, net $ 37 $ 41 $ 113 $ 122 Supplemental cash flow information related to leases was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 45 $ 44 $ 131 $ 127 Right-of-use (“ROU”) lease assets obtained in exchange for new operating lease liabilities $ (23) $ 5 $ (1) $ 99 Other non-cash ROU lease asset activity (1) $ (15) $ (11) $ (40) $ (36) (1) ROU lease asset impairment. Refer to “Note 17—Restructuring and Other Charges” for further details. Supplemental balance sheet information related to leases was as follows: September 30, December 31, (In millions, except weighted-average figures) Operating ROU lease assets $ 423 $ 574 Current operating lease liabilities 147 151 Operating lease liabilities 449 569 Total operating lease liabilities $ 596 $ 720 Weighted-average remaining lease term — operating leases 5.0 years 5.7 years Weighted-average discount rate — operating leases 4 % 3 % Future minimum lease payments for our operating leases as of September 30, 2023 were as follows: Operating Leases Fiscal years: (In millions) Remaining 2023 $ 44 2024 160 2025 122 2026 108 2027 86 Thereafter 137 Total $ 657 Less: present value discount (61) Lease liability $ 596 Operating lease amounts include minimum lease payments under our non-cancelable operating leases primarily for office and data center facilities. The amounts presented are consistent with contractual terms and are not expected to differ significantly from actual results under our existing leases. As of September 30, 2023, we have additional operating leases, primarily for data centers, which will commence in the first quarter of 2024 or later with minimum lease payments aggregating to $244 million and lease terms ranging from five

OTHER FINANCIAL STATEMENT DETAI

OTHER FINANCIAL STATEMENT DETAILS	9 Months Ended
	Sep. 30, 2023
Other Income and Expenses [Abstract]
OTHER FINANCIAL STATEMENT DETAILS	OTHER FINANCIAL STATEMENT DETAILS CRYPTO ASSET SAFEGUARDING LIABILITY AND CORRESPONDING SAFEGUARDING ASSET We allow our customers in certain markets to buy, hold, sell, convert, receive, and send certain cryptocurrencies as well as use the proceeds from sales of cryptocurrencies to pay for purchases at checkout. These cryptocurrencies consist of Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and PayPal USD stablecoin (collectively, “our customers’ crypto assets”). We engage third parties, which are licensed trust companies, to provide certain custodial services, including holding our customers’ cryptographic key information, securing our customers’ crypto assets, and protecting them from loss or theft, including indemnification against certain types of losses such as theft. Our third-party custodians hold the crypto assets in a custodial account in PayPal’s name for the benefit of PayPal’s customers. We maintain the internal recordkeeping of our customers’ crypto assets, including the amount and type of crypto asset owned by each of our customers in that custodial account. As of September 30, 2023, we utilize two third-party custodians; as such, there is concentration risk in the event these custodians are not able to perform in accordance with our agreement. Due to the unique risks associated with cryptocurrencies, including technological, legal, and regulatory risks, we recognize a crypto asset safeguarding liability to reflect our obligation to safeguard the crypto assets held for the benefit of our customers, which is recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets. We also recognize a corresponding safeguarding asset, which is recorded in prepaid expenses and other current assets on our condensed consolidated balance sheets. The crypto asset safeguarding liability and corresponding safeguarding asset are measured and recorded at fair value on a recurring basis using quoted prices for the underlying crypto assets on the active exchange that we have identified as the principal market at the balance sheet date. The corresponding safeguarding asset may be adjusted for loss events, as applicable. As of September 30, 2023, the Company has not incurred any safeguarding loss events, and therefore, the crypto asset safeguarding liability and corresponding safeguarding asset were recorded at the same value. The following table summarizes the significant crypto assets we hold for the benefit of our customers and the crypto asset safeguarding liability and corresponding safeguarding asset as of September 30, 2023 and December 31, 2022: September 30, December 31, 2022 (In millions) Bitcoin $ 479 $ 291 Ethereum 316 250 Other 82 63 Crypto asset safeguarding liability $ 877 $ 604 Crypto asset safeguarding asset $ 877 $ 604 ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the three months ended September 30, 2023: Unrealized Gains (Losses) on Cash Flow Hedges Unrealized Gains (Losses) on Investments Foreign Currency Translation Adjustment (“CTA”) Net Investment Hedges CTA Gains (Losses) Estimated Tax (Expense) Benefit Total (In millions) Beginning balance $ (23) $ (403) $ (811) $ 195 $ 46 $ (996) Other comprehensive income (loss) before reclassifications 116 110 (70) 35 (40) 151 Less: Amount of gain reclassified from accumulated other comprehensive income (loss) (“AOCI”) 7 — — — — 7 Net current period other comprehensive income (loss) 109 110 (70) 35 (40) 144 Ending balance $ 86 $ (293) $ (881) $ 230 $ 6 $ (852) The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the three months ended September 30, 2022: Unrealized Gains (Losses) on Cash Flow Hedges Unrealized Gains (Losses) on Investments Foreign CTA Net Investment Hedges CTA Gains (Losses) Estimated Tax (Expense) Benefit Total (In millions) Beginning balance $ 409 $ (544) $ (665) $ 180 $ 56 $ (564) Other comprehensive income (loss) before reclassifications 294 (157) (206) 97 11 39 Less: Amount of gain reclassified from AOCI 156 — — — — 156 Net current period other comprehensive income (loss) 138 (157) (206) 97 11 (117) Ending balance $ 547 $ (701) $ (871) $ 277 $ 67 $ (681) The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the nine months ended September 30, 2023: Unrealized Gains (Losses) on Cash Flow Hedges Unrealized Gains (Losses) on Investments Foreign CTA Net Investment Hedges CTA Gains (Losses) Estimated Tax (Expense) Benefit Total (In millions) Beginning balance $ 111 $ (591) $ (575) $ (1) $ 128 $ (928) Other comprehensive income (loss) before reclassifications 92 273 (306) 231 (122) 168 Less: Amount of gain (loss) reclassified from AOCI 117 (25) — — — 92 Net current period other comprehensive income (loss) (25) 298 (306) 231 (122) 76 Ending balance $ 86 $ (293) $ (881) $ 230 $ 6 $ (852) The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the nine months ended September 30, 2022: Unrealized Gains (Losses) on Cash Flow Hedges Unrealized Gains (Losses) on Investments Foreign CTA Net Investment Hedges CTA Gains (Losses) Estimated Tax (Expense) Benefit Total (In millions) Beginning balance $ 199 $ (87) $ (270) $ 24 $ (2) $ (136) Other comprehensive income (loss) before reclassifications 658 (614) (601) 253 69 (235) Less: Amount of gain reclassified from AOCI 310 — — — — 310 Net current period other comprehensive income (loss) 348 (614) (601) 253 69 (545) Ending balance $ 547 $ (701) $ (871) $ 277 $ 67 $ (681) The following table provides details about reclassifications out of AOCI for the periods presented below: Details about AOCI Components Amount of Gains (Losses) Reclassified from AOCI Affected Line Item in the Statements of Income (Loss) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Gains on cash flow hedges — foreign currency exchange contracts $ 7 $ 156 $ 117 $ 310 Net revenues Losses on investments — — (23) Net revenues Losses on investments — — (2) — Other income (expense), net 7 156 92 310 Income before income taxes — — — — Income tax expense Total reclassifications for the period $ 7 $ 156 $ 92 $ 310 Net income (loss) OTHER INCOME (EXPENSE), NET The following table reconciles the components of other income (expense), net for the periods presented below: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Interest income $ 124 $ 48 $ 348 $ 90 Interest expense (86) (87) (260) (215) Net gains (losses) on strategic investments 24 495 205 (163) Other 11 4 25 (49) Other income (expense), net $ 73 $ 460 $ 318 $ (337)

FUNDS RECEIVABLE AND CUSTOMER A

FUNDS RECEIVABLE AND CUSTOMER ACCOUNTS AND INVESTMENTS	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
FUNDS RECEIVABLE AND CUSTOMER ACCOUNTS AND INVESTMENTS	FUNDS RECEIVABLE AND CUSTOMER ACCOUNTS AND INVESTMENTS The following table summarizes the assets underlying our funds receivable and customer accounts, short-term investments, and long-term investments as of September 30, 2023 and December 31, 2022: September 30, December 31, (In millions) Funds receivable and customer accounts: Cash and cash equivalents $ 9,761 $ 11,363 Time deposits 96 95 Available-for-sale debt securities 16,360 17,349 Funds receivable 8,424 7,457 Total funds receivable and customer accounts $ 34,641 $ 36,264 Short-term investments: Time deposits $ 507 $ 482 Available-for-sale debt securities 4,218 2,593 Restricted cash 6 17 Total short-term investments $ 4,731 $ 3,092 Long-term investments: Time deposits $ 45 $ 55 Available-for-sale debt securities 1,421 2,817 Strategic investments 2,389 2,146 Total long-term investments $ 3,855 $ 5,018 As of September 30, 2023 and December 31, 2022, the estimated fair value of our available-for-sale debt securities included within funds receivable and customer accounts, short-term investments, and long-term investments was as follows: September 30, 2023 (1) Gross Gross Gross Estimated (In millions) Funds receivable and customer accounts: U.S. government and agency securities $ 8,851 $ — $ (146) $ 8,705 Foreign government and agency securities 808 — (16) 792 Corporate debt securities 1,508 — (38) 1,470 Asset-backed securities 1,501 2 (5) 1,498 Municipal securities 579 — (6) 573 Commercial paper 3,078 — (3) 3,075 Short-term investments: U.S. government and agency securities 580 — (6) 574 Foreign government and agency securities 368 — (12) 356 Corporate debt securities 1,143 — (21) 1,122 Asset-backed securities 585 1 (7) 579 Commercial paper 1,588 — (1) 1,587 Long-term investments: U.S. government and agency securities 336 — (20) 316 Foreign government and agency securities 34 — (2) 32 Corporate debt securities 210 — (11) 199 Asset-backed securities 876 — (2) 874 Total available-for-sale debt securities (2) $ 22,045 $ 3 $ (296) $ 21,752 (1) “—” Denotes gross unrealized gain or unrealized loss of less than $1 million in a given position. (2) Excludes foreign currency denominated available-for-sale debt securities accounted for under the fair value option. Refer to “Note 9 — Fair Value Measurement of Assets and Liabilities.” December 31, 2022 (1) Gross Gross Gross Estimated (In millions) Funds receivable and customer accounts: U.S. government and agency securities $ 8,736 $ — $ (252) $ 8,484 Foreign government and agency securities 1,479 — (44) 1,435 Corporate debt securities 1,637 — (82) 1,555 Asset-backed securities 1,324 — (26) 1,298 Municipal securities 410 — (3) 407 Commercial paper 3,702 1 (14) 3,689 Short-term investments: U.S. government and agency securities 815 — (3) 812 Foreign government and agency securities 435 — (11) 424 Corporate debt securities 641 — (14) 627 Asset-backed securities 415 — (9) 406 Commercial paper 324 — — 324 Long-term investments: U.S. government and agency securities 493 — (36) 457 Foreign government and agency securities 386 — (22) 364 Corporate debt securities 987 — (58) 929 Asset-backed securities 1,085 — (18) 1,067 Total available-for-sale debt securities (2) $ 22,869 $ 1 $ (592) $ 22,278 (1) “—” Denotes gross unrealized gain or unrealized loss of less than $1 million in a given position. (2) Excludes foreign currency denominated available-for-sale debt securities accounted for under the fair value option. Refer to “Note 9 — Fair Value Measurement of Assets and Liabilities.” Gross amortized cost and estimated fair value balances exclude accrued interest receivable on available-for-sale debt securities, which totaled $94 million and $65 million at September 30, 2023 and December 31, 2022, respectively, and were included in other current assets As of September 30, 2023 and December 31, 2022, the gross unrealized losses and estimated fair value of our available-for-sale debt securities included within funds receivable and customer accounts, short-term investments, and long-term investments for which an allowance for credit losses was not deemed necessary in the current period, aggregated by the length of time those individual securities have been in a continuous loss position, was as follows: September 30, 2023 (1) Less than 12 months 12 months or longer Total Fair Value Gross Fair Value Gross Fair Value Gross (In millions) Funds receivable and customer accounts: U.S. government and agency securities $ 3,534 $ (22) $ 4,504 $ (124) $ 8,038 $ (146) Foreign government and agency securities 102 (1) 513 (15) 615 (16) Corporate debt securities 124 — 1,346 (38) 1,470 (38) Asset-backed securities 702 (3) 337 (2) 1,039 (5) Municipal securities 389 (4) 155 (2) 544 (6) Commercial paper 2,682 (3) — — 2,682 (3) Short-term investments: U.S. government and agency securities 25 — 150 (6) 175 (6) Foreign government and agency securities — — 356 (12) 356 (12) Corporate debt securities 307 — 793 (21) 1,100 (21) Asset-backed securities 188 (2) 132 (5) 320 (7) Commercial paper 1,537 (1) — — 1,537 (1) Long-term investments: U.S. government and agency securities — — 316 (20) 316 (20) Foreign government and agency securities — — 32 (2) 32 (2) Corporate debt securities — — 199 (11) 199 (11) Asset-backed securities 251 (1) 230 (1) 481 (2) Total available-for-sale debt securities $ 9,841 $ (37) $ 9,063 $ (259) $ 18,904 $ (296) (1) “—” Denotes gross unrealized loss or fair value of less than $1 million in a given position. December 31, 2022 (1) Less than 12 months 12 months or longer Total Fair Value Gross Fair Value Gross Fair Value Gross (In millions) Funds receivable and customer accounts: U.S. government and agency securities $ 3,730 $ (89) $ 4,246 $ (163) $ 7,976 $ (252) Foreign government and agency securities 410 (10) 997 (34) 1,407 (44) Corporate debt securities 9 (1) 1,545 (81) 1,554 (82) Asset-backed securities 773 (12) 508 (14) 1,281 (26) Municipal securities 264 (3) 50 — 314 (3) Commercial paper 3,079 (14) — — 3,079 (14) Short-term investments: U.S. government and agency securities 345 — 73 (3) 418 (3) Foreign government and agency securities 61 — 362 (11) 423 (11) Corporate debt securities 97 (2) 465 (12) 562 (14) Asset-backed securities 175 (2) 217 (7) 392 (9) Commercial paper 224 — — — 224 — Long-term investments: U.S. government and agency securities — — 457 (36) 457 (36) Foreign government and agency securities 31 (2) 333 (20) 364 (22) Corporate debt securities 85 (6) 834 (52) 919 (58) Asset-backed securities 872 (9) 195 (9) 1,067 (18) Total available-for-sale debt securities $ 10,155 $ (150) $ 10,282 $ (442) $ 20,437 $ (592) (1) “—” Denotes gross unrealized loss or fair value of less than $1 million in a given position. Unrealized losses have not been recognized into income as we neither intend to sell, nor anticipate that it is more likely than not that we will be required to sell, the securities before recovery of their amortized cost basis. The decline in fair value is due primarily to changes in market interest rates, rather than credit losses. We will continue to monitor the performance of the investment portfolio and assess whether impairment due to expected credit losses has occurred. During the three months ended September 30, 2023, we received $772 million in proceeds from the sale of available-for-sale debt securities and incurred gross realized gains and losses which were de minimis and determined using the specific identification method. During the nine months ended September 30, 2023, we received $2.7 billion in proceeds from the sale of available-for-sale debt securities and incurred gross realized losses of $25 million and de minimis gross realized gains, which were determined using the specific identification method. Our available-for-sale debt securities included within funds receivable and customer accounts, short-term investments, and long-term investments classified by date of contractual maturity were as follows: September 30, 2023 Amortized Cost Fair Value (In millions) One year or less $ 13,950 $ 13,782 After one year through five years 5,721 5,599 After five years through ten years 2,309 2,307 After ten years 65 64 Total $ 22,045 $ 21,752 Actual maturities may differ from contractual maturities as certain securities may be prepaid. STRATEGIC INVESTMENTS Our strategic investments include marketable equity securities, which are publicly traded, and non-marketable equity securities, which are primarily investments in privately held companies. Our marketable equity securities have readily determinable fair values and are recorded as long-term investments on our condensed consolidated balance sheets at fair value with changes in fair value recorded in other income (expense), net on our condensed consolidated statements of income (loss). Marketable equity securities totaled $541 million and $323 million as of September 30, 2023 and December 31, 2022, respectively. Our non-marketable equity securities are recorded in long-term investments on our condensed consolidated balance sheets. The carrying value of our non-marketable equity securities totaled $1.8 billion as of September 30, 2023 and December 31, 2022. As of September 30, 2023 and December 31, 2022, we had non-marketable equity securities of $168 million and $136 million, respectively, where we have the ability to exercise significant influence, but not control, over the investee. We account for these equity securities using the equity method of accounting. The remaining non-marketable equity securities do not have a readily determinable fair value and we measure these equity investments at cost minus impairment, if any, and adjust for changes resulting from observable price changes in orderly transactions for an identical or similar investment in the same issuer (the “Measurement Alternative”). All gains and losses on these investments, realized and unrealized, and our share of earnings or losses from investments accounted for using the equity method are recognized in other income (expense), net on our condensed consolidated statements of income (loss). Measurement Alternative adjustments The adjustments to the carrying value of our non-marketable equity securities accounted for under the Measurement Alternative in the three and nine months ended September 30, 2023 and 2022 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Carrying amount, beginning of period $ 1,691 $ 1,574 $ 1,687 $ 1,268 Adjustments related to non-marketable equity securities: Net additions (1) 4 17 30 74 Gross unrealized gains — 174 23 423 Gross unrealized losses and impairments (15) — (60) — Carrying amount, end of period $ 1,680 $ 1,765 $ 1,680 $ 1,765 (1) Net additions include purchases, reductions due to sales of securities, and reclassifications when the Measurement Alternative is subsequently elected or no longer applies. The following table summarizes the cumulative gross unrealized gains and cumulative gross unrealized losses and impairment related to non-marketable equity securities accounted for under the Measurement Alternative, held at September 30, 2023 and December 31, 2022, respectively: September 30, December 31, (In millions) Cumulative gross unrealized gains $ 1,159 $ 1,137 Cumulative gross unrealized losses and impairments $ (188) $ (131) Unrealized gains (losses) on strategic investments, excluding those accounted for using the equity method The following table summarizes the net unrealized gains (losses) on marketable and non-marketable equity securities, excluding those accounted for using the equity method, held at September 30, 2023 and 2022, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Net unrealized gains (losses) $ 13 $ 232 $ 200 $ 220

FAIR VALUE MEASUREMENT OF ASSET

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES	FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES FINANCIAL ASSETS AND LIABILITIES MEASURED AND RECORDED AT FAIR VALUE ON A RECURRING BASIS The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022: September 30, 2023 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other (In millions) Assets: Cash and cash equivalents (1) $ 677 $ — $ 677 Short-term investments (2) : U.S. government and agency securities 574 — 574 Foreign government and agency securities 356 — 356 Corporate debt securities 1,122 — 1,122 Asset-backed securities 579 — 579 Commercial paper 1,587 — 1,587 Total short-term investments 4,218 — 4,218 Funds receivable and customer accounts (3) : Cash and cash equivalents 398 — 398 U.S. government and agency securities 8,705 — 8,705 Foreign government and agency securities 930 — 930 Corporate debt securities 1,579 — 1,579 Asset-backed securities 1,498 — 1,498 Municipal securities 573 — 573 Commercial paper 3,075 — 3,075 Total funds receivable and customer accounts 16,758 — 16,758 Derivatives 301 — 301 Crypto asset safeguarding asset 877 — 877 Long-term investments (2),(4) : U.S. government and agency securities 316 — 316 Foreign government and agency securities 32 — 32 Corporate debt securities 199 — 199 Asset-backed securities 874 — 874 Marketable equity securities 541 541 — Total long-term investments 1,962 541 1,421 Total financial assets $ 24,793 $ 541 $ 24,252 Liabilities: Derivatives $ 56 $ — $ 56 Crypto asset safeguarding liability 877 — 877 Total financial liabilities $ 933 $ — $ 933 (1) Excludes cash of $6.1 billion not measured and recorded at fair value. (2) Excludes restricted cash of $6 million and time deposits of $552 million not measured and recorded at fair value. (3) Excludes cash, time deposits, and funds receivable of $17.9 billion underlying funds receivable and customer accounts not measured and recorded at fair value. (4) Excludes non-marketable equity securities of $1.8 billion measured using the Measurement Alternative or equity method accounting. December 31, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) (In millions) Assets: Cash and cash equivalents (1) $ 932 $ — $ 932 Short-term investments (2) : U.S. government and agency securities 812 — 812 Foreign government and agency securities 424 — 424 Corporate debt securities 627 — 627 Asset-backed securities 406 — 406 Commercial paper 324 — 324 Total short-term investments 2,593 — 2,593 Funds receivable and customer accounts (3) : Cash and cash equivalents 192 — 192 U.S. government and agency securities 8,484 — 8,484 Foreign government and agency securities 1,777 — 1,777 Corporate debt securities 1,694 — 1,694 Asset-backed securities 1,298 — 1,298 Municipal securities 407 — 407 Commercial paper 3,689 — 3,689 Total funds receivable and customer accounts 17,541 — 17,541 Derivatives 244 — 244 Crypto asset safeguarding asset 604 — 604 Long-term investments (2), (4) : U.S. government and agency securities 457 — 457 Foreign government and agency securities 364 — 364 Corporate debt securities 929 — 929 Asset-backed securities 1,067 — 1,067 Marketable equity securities 323 323 — Total long-term investments 3,140 323 2,817 Total financial assets $ 25,054 $ 323 $ 24,731 Liabilities: Derivatives $ 298 $ — $ 298 Crypto asset safeguarding liability 604 — 604 Total financial liabilities $ 902 $ — $ 902 (1) Excludes cash of $6.8 billion not measured and recorded at fair value. (2) Excludes restricted cash of $17 million and time deposits of $537 million not measured and recorded at fair value. (3) Excludes cash, time deposits, and funds receivable of $18.7 billion underlying funds receivable and customer accounts not measured and recorded at fair value. (4) Excludes non-marketable equity securities of $1.8 billion measured using the Measurement Alternative or equity method accounting. Our marketable equity securities are valued using quoted prices for identical assets in active markets (Level 1). There are no active markets for our crypto asset safeguarding liability or the corresponding safeguarding asset. Accordingly, we have valued the asset and liability using quoted prices on the active exchange that we have identified as the principal market for the underlying crypto assets (Level 2). All other financial assets and liabilities are valued using quoted prices for identical instruments in less active markets, readily available pricing sources for comparable instruments, or models using market observable inputs (Level 2). A majority of our derivative instruments are valued using pricing models that take into account the contract terms as well as multiple inputs where applicable, such as currency rates, interest rate yield curves, option volatility, and equity prices. As of September 30, 2023 and December 31, 2022, we did not have any assets or liabilities requiring measurement at fair value on a recurring basis with significant unobservable inputs that would require a high level of judgment to determine fair value (Level 3). We elect to account for available-for-sale debt securities denominated in currencies other than the functional currency of our subsidiaries under the fair value option. Election of the fair value option allows us to recognize any gains and losses from fair value changes on such investments in other income (expense), net on the condensed consolidated statements of income (loss) to significantly reduce the accounting asymmetry that would otherwise arise when recognizing the corresponding foreign exchange gains and losses relating to customer liabilities. The following table summarizes the estimated fair value and amortized cost of our available-for-sale debt securities under the fair value option as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Amortized Cost Fair Value Amortized Cost Fair Value (In millions) (In millions) Funds receivable and customer accounts $ 255 $ 247 $ 441 $ 481 The following table summarizes the gains (losses) from fair value changes recognized in other income (expense), net related to the available-for-sale debt securities under the fair value option for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Funds receivable and customer accounts $ (5) $ (70) $ 6 $ (213) ASSETS MEASURED AND RECORDED AT FAIR VALUE ON A NON-RECURRING BASIS The following tables summarize our assets held as of September 30, 2023 and December 31, 2022 for which a non-recurring fair value measurement was recorded during the nine months ended September 30, 2023 and the year ended December 31, 2022, respectively: September 30, Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) (In millions) Loans and interest receivable, held for sale $ 2,165 $ — $ 2,165 Non-marketable equity securities measured using the Measurement Alternative (1) 159 111 48 Other assets (2) 112 112 — Total $ 2,436 $ 223 $ 2,213 (1) Excludes non-marketable equity securities of $1.5 billion accounted for under the Measurement Alternative for which no observable price changes occurred during the nine months ended September 30, 2023. (2) Consists of ROU lease assets recorded at fair value pursuant to impairment charges that occurred during the nine months ended September 30, 2023. See “Note 6—Leases” for additional information. December 31, 2022 Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) (In millions) Non-marketable equity investments measured using the Measurement Alternative (1) $ 1,122 $ 724 $ 398 Other assets (2) 165 165 — Total $ 1,287 $ 889 $ 398 (1) Excludes non-marketable equity securities of $565 million accounted for under the Measurement Alternative for which no observable price changes occurred during the year ended December 31, 2022. (2) Consists of ROU lease assets recorded at fair value pursuant to impairment charges that occurred during the year ended December 31, 2022. See “Note 6—Leases” for additional information. The fair value of loans and interest receivables held for sale is classified within Level 3 as we estimate fair value using significant unobservable inputs. The significant unobservable input is the price at which the Company expects to sell the loans based upon our agreement with the global investment firm to purchase these loans. The price is determined based upon certain loan and risk classifications of the portfolio. The following table presents the valuation techniques covering the majority of Level 3 non-recurring fair value measurements and the most significant unobservable inputs used in those measurements as of September 30, 2023: Fair Value Methodology Input Low (1) High (1) Weighted Average (1)(2) Loans and interest receivable, held for sale $ 2,165 Price-based Price $ 0.98 $ 1.00 $ 0.99 (1) Prices are measured in relation to $1.00 par. (2) Weighted average is calculated based on the fair value of the loans. We measure the non-marketable equity securities accounted for under the Measurement Alternative at cost minus impairment, if any, adjusted for observable price changes in orderly transactions for an identical or similar investment in the same issuer. Non-marketable equity securities that have been remeasured during the period based on observable price changes are classified within Level 2 in the fair value hierarchy because we estimate the fair value based on valuation methods which only include significant inputs that are observable, such as the observable transaction price at the transaction date. The fair value of non-marketable equity securities are classified within Level 3 when we estimate fair value using significant unobservable inputs such as when we remeasure due to impairment and use discount rates, forecasted cash flows, and market data of comparable companies, among others. We evaluate ROU assets related to leases for indicators of impairment whenever events or changes in circumstances indicate that the carrying amount of an ROU asset may not be recoverable. Impairment losses on ROU lease assets related to office operating leases are calculated using estimated rental income per square foot derived from observable market data, and the impaired asset is classified within Level 2 in the fair value hierarchy. FINANCIAL ASSETS AND LIABILITIES NOT MEASURED AND RECORDED AT FAIR VALUE

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS SUMMARY OF DERIVATIVE INSTRUMENTS Our primary objective in holding derivatives is to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. Our derivatives expose us to credit risk to the extent that our counterparties may be unable to meet the terms of the arrangement. We seek to mitigate such risk by limiting our counterparties to, and by spreading the risk across, major financial institutions and by entering into collateral security arrangements. In addition, the potential risk of loss with any one counterparty resulting from this type of credit risk is monitored on an ongoing basis. We do not use any derivative instruments for trading or speculative purposes. Cash flow hedges We have significant international revenues and expenses denominated in foreign currencies, which subjects us to foreign currency exchange risk. We have a foreign currency exposure management program in which we designate certain foreign currency exchange contracts, generally with maturities of 12 months or less, to reduce the volatility of cash flows primarily related to forecasted revenues and expenses denominated in certain foreign currencies. The objective of these foreign currency exchange contracts is to help mitigate the risk that the U.S. dollar-equivalent cash flows are adversely affected by changes in the applicable U.S. dollar/foreign currency exchange rate. These derivative instruments are designated as cash flow hedges and accordingly, the derivative’s gain or loss is initially reported as a component of AOCI and subsequently reclassified into revenue or applicable expense line item in the condensed consolidated statements of income (loss) in the same period the forecasted transaction affects earnings. We evaluate the effectiveness of our foreign currency exchange contracts on a quarterly basis by comparing the critical terms of the derivative instruments with the critical terms of the forecasted cash flows of the hedged item; if the critical terms are the same, we conclude the hedge will be perfectly effective. We do not exclude any component of the changes in fair value of the derivative instruments from the assessment of hedge effectiveness. We report cash flows arising from derivative instruments consistent with the classification of cash flows from the underlying hedged items that these derivatives are hedging. Accordingly, the cash flows associated with derivatives designated as cash flow hedges are classified in cash flows from operating activities on our condensed consolidated statements of cash flows. As of September 30, 2023, we estimated that $86 million of net derivative gains related to our cash flow hedges included in AOCI are expected to be reclassified into earnings within the next 12 months. During the three and nine months ended September 30, 2023 and 2022, we did not discontinue any cash flow hedges because it was probable that the original forecasted transaction would not occur and as such, did not reclassify any gains or losses to earnings prior to the occurrence of the hedged transaction. If we elect to discontinue our cash flow hedges and it is probable that the original forecasted transaction will occur, we continue to report the derivative’s gain or loss in AOCI until the forecasted transaction affects earnings, at which point we also reclassify it into earnings. Gains and losses on derivatives held after we discontinue our cash flow hedges and on derivative instruments that are not designated as cash flow hedges are recorded in the same financial statement line item to which the derivative relates. Net investment hedges We use forward foreign currency exchange contracts to reduce the foreign currency exchange risk related to our investment in certain foreign subsidiaries. These derivatives are designated as net investment hedges and accordingly, the gains and losses on the portion of the derivatives included in the assessment of hedge effectiveness is recorded in AOCI as part of foreign currency translation. We exclude forward points from the assessment of hedge effectiveness and recognize them in other income (expense), net on a straight-line basis over the life of the hedge. The accumulated gains and losses associated with these instruments will remain in AOCI until the foreign subsidiaries are sold or substantially liquidated, at which point they will be reclassified into earnings. The cash flows associated with derivatives designated as a net investment hedge are classified in cash flows from investing activities on our condensed consolidated statements of cash flows. We have not reclassified any gains or losses related to net investment hedges from AOCI into earnings for any of the periods presented. Foreign currency exchange contracts not designated as hedging instruments We have a foreign currency exposure management program in which we use foreign currency exchange contracts to offset the foreign currency exchange risk of our assets and liabilities denominated in currencies other than the functional currency of our subsidiaries. These contracts are not designated as hedging instruments and reduce, but do not entirely eliminate, the impact of foreign currency exchange rate movements on our assets and liabilities. The gains and losses due to remeasurement of certain foreign currency denominated monetary assets and liabilities are recorded in other income (expense), net, which are offset by the gains and losses on these foreign currency exchange contracts. The cash flows associated with our non-designated derivatives used to hedge foreign currency denominated monetary assets and liabilities are classified in cash flows from operating activities on our condensed consolidated statements of cash flows. FAIR VALUE OF DERIVATIVE CONTRACTS The fair value of our outstanding derivative instruments as of September 30, 2023 and December 31, 2022 was as follows: Balance Sheet Location September 30, December 31, (In millions) Derivative Assets: Foreign currency exchange contracts designated as hedging instruments Other current assets $ 105 $ 167 Foreign currency exchange contracts designated as hedging instruments Other assets (non-current) 94 15 Foreign currency exchange contracts not designated as hedging instruments Other current assets 102 62 Total derivative assets $ 301 $ 244 Derivative Liabilities: Foreign currency exchange contracts designated as hedging instruments Other current liabilities $ 19 $ 68 Foreign currency exchange contracts designated as hedging instruments Other long-term liabilities — 133 Foreign currency exchange contracts not designated as hedging instruments Other current liabilities 37 97 Total derivative liabilities $ 56 $ 298 MASTER NETTING AGREEMENTS - RIGHTS OF SET-OFF Under master netting agreements with certain counterparties to our foreign currency exchange contracts, subject to applicable requirements, we are allowed to net settle transactions of the same type with a single net amount payable by one party to the other. However, we have elected to present the derivative assets and derivative liabilities on a gross basis on our condensed consolidated balance sheets. Rights of set-off associated with our foreign currency exchange contracts represented a potential offset to both assets and liabilities of $29 million as of September 30, 2023 and $70 million as of December 31, 2022. We have entered into collateral security arrangements that provide for collateral to be received or posted when the net fair value of certain financial instruments fluctuates from contractually established thresholds. The following table provides the collateral posted and received: September 30, December 31, (In millions) Cash collateral posted (1) $ 16 $ 24 Cash collateral received (2) $ 138 $ 203 (1) Right to reclaim cash collateral related to our derivative liabilities recognized in other current assets on our condensed consolidated balance sheets. (2) Obligation to return counterparty cash collateral related to our derivative assets recognized in other current liabilities on our condensed consolidated balance sheets. EFFECT OF DERIVATIVE CONTRACTS ON CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The following tables provide the location in the condensed consolidated statements of income (loss) and amount of recognized gains or losses related to our derivative instruments: Three Months Ended September 30, 2023 2022 (In millions) Net revenues Other income (expense), net Net revenues Other income (expense), net Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded $ 7,418 $ 73 $ 6,846 $ 460 Gains (losses) on derivatives in cash flow hedging relationship: Amount of gains on foreign currency exchange contracts reclassified from AOCI 7 — 156 — Gains (losses) on derivatives in net investment hedging relationship: Amount of gains on foreign currency exchange contracts excluded from the assessment of effectiveness — 20 — 27 Gains (losses) on derivatives not designated as hedging instruments: Amount of gains on foreign currency exchange contracts — 54 — 52 Amount of losses on equity derivative contracts (1) — — — (174) Total gains (losses) $ 7 $ 74 $ 156 $ (95) (1) During the three months ended September 30, 2022, equity derivative contracts were entered into and matured in association with the sale of marketable equity securities related to a strategic investment. Nine Months Ended September 30, 2023 2022 (In millions) Net revenues Other income (expense), net Net revenues Other income (expense), net Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded $ 21,745 $ 318 $ 20,135 $ (337) Gains (losses) on derivatives in cash flow hedging relationship: Amount of gains on foreign exchange contracts reclassified from AOCI 117 — 310 — Gains (losses) on derivatives in net investment hedging relationship: Amount of gains on foreign exchange contracts excluded from the assessment of effectiveness — 79 — 53 Gains (losses) on derivatives not designated as hedging instruments: Amount of (losses) gains on foreign exchange contracts — (102) — 160 Amount of losses on equity derivative contracts (1) — — — (174) Total gains (losses) $ 117 $ (23) $ 310 $ 39 (1) During the nine months ended September 30, 2022, equity derivative contracts were entered into and matured in association with the sale of marketable equity securities related to a strategic investment. The cash flows associated with the equity derivative contracts were classified in cash flows from investing activities on our condensed consolidated statements of cash flows. The following table provides the amount of pre-tax unrealized gains or losses included in the assessment of hedge effectiveness related to our derivative instruments designated as hedging instruments that are recognized in other comprehensive income (loss): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Unrealized gains on foreign exchange contracts designated as cash flow hedges $ 116 $ 294 $ 92 $ 658 Unrealized gains on foreign exchange contracts designated as net investment hedges 35 97 231 253 Total unrealized gains recognized from derivative contracts designated as hedging instruments in the condensed consolidated statements of comprehensive income (loss) $ 151 $ 391 $ 323 $ 911 NOTIONAL AMOUNTS OF DERIVATIVE CONTRACTS Derivative transactions are measured in terms of the notional amount; however, this amount is not recorded on the balance sheet and is not, when viewed in isolation, a meaningful measure of the risk profile of the derivative instruments. The notional amount is generally not exchanged, but is used only as the underlying basis on which the value of foreign currency exchange payments under these contracts is determined. The following table provides the notional amounts of our outstanding derivatives: September 30, December 31, (In millions) Foreign exchange contracts designated as hedging instruments $ 6,336 $ 7,149 Foreign exchange contracts not designated as hedging instruments 9,387 11,840 Total $ 15,723 $ 18,989

LOANS AND INTEREST RECEIVABLE

LOANS AND INTEREST RECEIVABLE	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
LOANS AND INTEREST RECEIVABLE	LOANS AND INTEREST RECEIVABLE LOANS AND INTEREST RECEIVABLE, HELD FOR SALE In June 2023, we entered into a multi-year agreement with a global investment firm to sell up to €40 billion of our eligible consumer installment receivables portfolio, including those held on our balance sheet at closing of the transaction and a forward-flow arrangement for the sale of future originations. Loans and interest receivable, held for sale are recorded at the lower of cost or fair value, determined on an aggregate basis, with valuation changes and any associated charge-offs recorded in restructuring and other charges on our condensed consolidated statements of income (loss). Prior to the decision to sell, this portfolio was reported at outstanding principal balances, net of allowances, including unamortized deferred origination costs and estimated collectible interest and fees. At the time of reclassification, any previously recorded allowance for credit losses for loans and interest receivable outstanding was reversed, resulting in a decrease of approximately $33 million in transaction and credit losses in our condensed consolidated statements of income (loss). See “Note 1—Overview and Summary of Significant Accounting Policies” for additional information. During the nine months ended September 30, 2023, we reclassified approximately $1.2 billion of eligible consumer installment receivables from loans and interest receivable, net to loans and interest receivable, held for sale. As of September 30, 2023, the total outstanding balance in our held for sale portfolio was $2.2 billion, including loans reclassified as held for sale and loans originated as held for sale. LOANS AND INTEREST RECEIVABLE, NET Consumer receivables We offer revolving and installment credit products as a funding option for consumers in certain checkout transactions on our payments platform. Our revolving credit product consists of PayPal Credit in the U.K., which is made available to consumers as a funding source in their PayPal wallet once they are approved for credit. Additionally, we offer installment credit products at the time of checkout in various markets, including the U.S., several markets across Europe, Australia, and Japan. We offer non interest-bearing installment credit products in these markets as well as interest-bearing installment credit products in the U.S. and Germany. Beginning in June 2022, we have purchased receivables related to interest-bearing installment loans extended to U.S. consumers by an independent chartered financial institution (“partner institution”) and are responsible for the servicing functions related to that portfolio. During the nine months ended September 30, 2023 and 2022, we purchased approximately $643 million and $106 million in consumer receivables, respectively. As of September 30, 2023 and December 31, 2022, the outstanding balance of consumer receivables, which consisted of revolving and installment loans and interest receivable, was $4.2 billion and $5.9 billion, respectively, net of the participation interest sold to the partner institution of $22 million and $17 million, respectively. We closely monitor the credit quality of our consumer receivables to evaluate and manage our related exposure to credit risk. Credit risk management begins with initial underwriting and continues through the full repayment of a loan. To assess a consumer who requests a loan, we use, among other indicators, internally developed risk models using detailed information from external sources, such as credit bureaus where available, and internal data, including the consumer’s prior repayment history with our credit products where available. We use delinquency status and trends to assist in making (or, for interest-bearing installment loans in the U.S., to assist the partner institution in making) new and ongoing credit decisions, to adjust our models, to plan our collection practices and strategies, and in determining our allowance for consumer loans and interest receivable. Consumer receivables delinquency and allowance The following tables present the delinquency status and gross charge-offs of consumer loans and interest receivable by year of origination. The amounts are based on the number of days past the billing date for revolving loans or contractual repayment date for installment loans. The “current” category represents balances that are within 29 days of the billing date or contractual repayment date, as applicable. September 30, 2023 (In millions, except percentages) Revolving Loans Installment Loans Amortized Cost Basis 2023 2022 2021 2020 2019 Total Percent Consumer loans and interest receivable: Current $ 1,993 $ 1,609 $ 412 $ 11 $ — $ — $ 4,025 95.4% 30 - 59 Days 26 30 6 1 — — 63 1.5% 60 - 89 Days 18 22 6 — — — 46 1.1% 90 - 179 Days 35 37 11 1 — — 84 2.0% Total $ 2,072 $ 1,698 $ 435 $ 13 $ — $ — $ 4,218 100% Gross charge-offs for the nine months ended September 30, 2023 $ 95 $ 43 $ 129 $ 5 $ — $ — $ 272 December 31, 2022 (In millions, except percentages) Revolving Loans Installment Loans Amortized Cost Basis 2022 2021 2020 2019 2018 Total Percent Consumer loans and interest receivable: Current $ 1,850 $ 3,726 $ 123 $ — $ — $ — $ 5,699 97.1% 30 - 59 Days 23 26 2 — — — 51 0.9% 60 - 89 Days 15 20 2 — — — 37 0.6% 90 - 179 Days 34 47 4 — — — 85 1.4% Total (1) $ 1,922 $ 3,819 $ 131 $ — $ — $ — $ 5,872 100% (1) Excludes receivables from other consumer credit products of $11 million at December 31, 2022. The following table summarizes the activity in the allowance for consumer loans and interest receivable for the nine months ended September 30, 2023 and 2022: September 30, 2023 September 30, 2022 Consumer Loans Receivable Interest Receivable Total Allowance (1) Consumer Loans Receivable Interest Receivable Total Allowance (2) (In millions) Beginning balance $ 322 $ 25 $ 347 $ 243 $ 43 $ 286 Reversal of allowance due to reclassification of loans and interest receivable to held for sale (33) — (33) — — — Provisions 271 20 291 198 9 207 Charge-offs (250) (22) (272) (149) (22) (171) Recoveries 29 — 29 14 — 14 Other (3) (5) — (5) (41) (6) (47) Ending balance $ 334 $ 23 $ 357 $ 265 $ 24 $ 289 (1) Beginning balances, provisions and charge-offs include amounts related to loans and interest receivable prior to their reclassification to loan and interest receivable, held for sale. (2) Excludes allowances from other consumer credit products of $2 million at September 30, 2022. (3) Includes amounts related to foreign currency remeasurement. The provision for the nine months ended September 30, 2023 for our consumer receivable portfolio was primarily attributable to growth in installment loans in the U.S. and Japan and U.K. revolving loans as well as a deterioration in credit quality of installment loans in the U.S. In the second quarter of 2023, we updated our expected credit loss models for the U.K. revolving loan product. The updated expected credit loss models utilize certain macroeconomic factors such as forecasted trends in household disposable income and retail e-commerce sales, and no longer consider unemployment. These changes did not have a material impact on our provision recorded in the period. Qualitative adjustments were made to account for limitations in our current expected credit loss models due to uncertainty with respect to the financial health of our borrowers. The increase in charge-offs for the nine months ended September 30, 2023 compared to the same period of the prior year was due to the expansion of our installment products and growth of revolving credit products. The provision for current expected credit losses relating to our consumer receivable portfolio is recognized in transaction and credit losses on our condensed consolidated statements of income (loss). The provision for interest receivable for interest earned on our consumer receivable portfolio is recognized in revenues from other value added services as a reduction to revenue. Loans receivable continue to accrue interest until they are charged off. We charge off consumer receivable balances in the month in which a customer’s balance becomes 180 days past the billing date or contractual repayment date, except for the U.S. consumer interest-bearing installment receivables, which are charged off 120 days past the contractual repayment date. Bankrupt accounts are charged off within 60 days after receipt of notification of bankruptcy. Charge-offs are recorded as a reduction to our allowance for loans and interest receivable and subsequent recoveries, if any, are recorded as an increase to the allowance for loans and interest receivable. Merchant receivables We offer access to merchant finance products for certain small and medium-sized businesses through our PayPal Working Capital (“PPWC”) and PayPal Business Loan (“PPBL”) products, which we collectively refer to as our merchant finance offerings. We purchase receivables related to credit extended to U.S. merchants by a partner institution and are responsible for the servicing functions related to that portfolio. During the nine months ended September 30, 2023 and 2022, we purchased approximately $1.3 billion and $2.3 billion in merchant receivables, respectively. As of September 30, 2023 and December 31, 2022, the total outstanding balance in our pool of merchant loans, advances, and interest and fees receivable was $1.4 billion and $2.1 billion, respectively, net of the participation interest sold to the partner institution of $55 million and $97 million, respectively. Through our PPWC product, merchants can borrow a certain percentage of their annual payment volume processed by PayPal and are charged a fixed fee for the loan or advance based on the overall credit assessment of the merchant. Loans and advances are repaid through a fixed percentage of the merchant’s future payment volume that PayPal processes. Through our PPBL product, we provide merchants access to short-term business financing for a fixed fee based on an evaluation of the applying business as well as the business owner. PPBL repayments are collected through periodic payments until the balance has been satisfied. The interest or fee is fixed at the time the loan or advance is extended and is recognized as deferred revenue in accrued expenses and other current liabilities on our condensed consolidated balance sheets. The fixed interest or fee is amortized into revenues from other value added services based on the amount repaid over the repayment period. We estimate the repayment period for PPWC based on the merchant’s payment processing history with PayPal. For PPWC, there is a general requirement that at least 10% of the original amount of the loan or advance plus the fixed fee must be repaid every 90 days. We calculate the repayment rate of the merchant’s future payment volume so that repayment of the loan or advance and fixed fee is expected to generally occur within 9 to 12 months from the date of the loan or advance. On a monthly basis, we recalculate the repayment period based on the repayment activity on the receivable. As such, actual repayment periods are dependent on actual merchant payment processing volumes. For PPBL, we receive fixed periodic payments over the contractual term of the loan, which generally ranges from 3 to 12 months. We actively monitor receivables with repayment periods greater than the original expected or contractual repayment period, as well as the credit quality of our merchant loans and advances that we extend or purchase, so that we can evaluate, quantify, and manage our credit risk exposure. To assess a merchant seeking a loan or advance, we use, among other indicators, risk models developed internally which utilize information obtained from multiple internal and external data sources to predict the likelihood of timely and satisfactory repayment by the merchant of the loan or advance amount and the related interest or fee. Primary drivers of the models include the merchant’s annual payment volume, payment processing history with PayPal, prior repayment history with PayPal’s credit products where available, information sourced from consumer and business credit bureau reports, and other information obtained during the application process. We use delinquency status and trends to assist in making (or, in the U.S., to assist the partner institution in making) ongoing credit decisions, to adjust our internal models, to plan our collection strategies, and in determining our allowance for these loans, advances, and interest and fees receivable. Merchant receivables delinquency and allowance The following tables present the delinquency status and gross charge-offs of merchant loans, advances, and interest and fees receivable by year of origination. The amounts are based on the number of days past the expected or contractual repayment date for amounts outstanding. The “current” category represents balances that are within 29 days of the expected repayment date or contractual repayment date, as applicable. September 30, 2023 (In millions, except percentages) 2023 2022 2021 2020 2019 Total Percent Merchant loans, advances, and interest and fees receivable: Current $ 988 $ 173 $ 5 $ 30 $ 20 $ 1,216 86.7% 30 - 59 Days 30 24 2 1 3 60 4.3% 60 - 89 Days 15 17 — 1 1 34 2.4% 90 - 179 Days 27 53 2 2 1 85 6.1% 180+ Days — 4 2 1 1 8 0.5% Total $ 1,060 $ 271 $ 11 $ 35 $ 26 $ 1,403 100% Gross charge-offs for the nine months ended September 30, 2023 $ 12 $ 185 $ 13 $ 14 $ 4 $ 228 December 31, 2022 (In millions, except percentages) 2022 2021 2020 2019 2018 Total Percent Merchant loans, advances, and interest and fees receivable: Current $ 1,826 $ 20 $ 57 $ 42 $ 2 $ 1,947 90.7% 30 - 59 Days 63 7 3 4 — 77 3.6% 60 - 89 Days 34 4 4 2 — 44 2.0% 90 - 179 Days 55 9 3 3 — 70 3.3% 180+ Days 1 2 2 3 — 8 0.4% Total $ 1,979 $ 42 $ 69 $ 54 $ 2 $ 2,146 100% The following table summarizes the activity in the allowance for merchant loans, advances, and interest and fees receivable for the nine months ended September 30, 2023 and 2022: September 30, 2023 September 30, 2022 Merchant Loans and Advances Interest and Fees Receivable Total Allowance Merchant Loans and Advances Interest and Fees Receivable Total Allowance (In millions) Beginning balance $ 230 $ 18 $ 248 $ 192 $ 9 $ 201 Provisions 135 24 159 31 9 40 Charge-offs (204) (24) (228) (75) (6) (81) Recoveries 19 — 19 27 — 27 Ending balance $ 180 $ 18 $ 198 $ 175 $ 12 $ 187 The provision for the nine months ended September 30, 2023 was primarily attributable to a deterioration in credit quality of loans outstanding. Qualitative adjustments were made to account for limitations in our current expected credit loss models due to uncertainty around the financial health of our borrowers, including the effectiveness of loan modification programs made available to merchants, as described further below. The increase in the charge-offs for the nine months ended September 30, 2023 compared to the same period of the prior year was due to the expansion of acceptable risk parameters in 2022, which resulted in a deterioration of the overall credit quality of loans outstanding. For merchant loans and advances, the determination of delinquency is based on the current expected or contractual repayment period of the loan or advance and fixed interest or fee payment as compared to the original expected or contractual repayment period. We charge off the receivables outstanding under our PPBL product when the repayments are 180 days past the contractual repayment date. We charge off the receivables outstanding under our PPWC product when the repayments are 180 days past our expectation of repayments and the merchant has not made a payment in the last 60 days, or when the repayments are 360 days past due regardless of whether the merchant has made a payment in the last 60 days. Bankrupt accounts are charged off within 60 days after receipt of notification of bankruptcy. The provision for credit losses on merchant loans and advances is recognized in transaction and credit losses on our condensed consolidated statements of income (loss), and the provision for interest and fees receivable is recognized as a reduction of deferred revenue in accrued expenses and other current liabilities on our condensed consolidated balance sheets. Charge-offs are recorded as a reduction to our allowance for loans and interest receivable and subsequent recoveries, if any, are recorded as an increase to the allowance for loans and interest receivable. Loan modifications for merchants experiencing financial difficulty In certain instances, we may modify the merchant loans, advances, and interest and fees receivable for which we determine it is probable that, without modification, we would be unable to collect all amounts due. These modifications are intended to provide merchants with financial relief and enable us to potentially mitigate losses. Modifications during the three and nine months ended September 30, 2023 were term extensions. These modifications increased the term, while moving the delinquency status to current. The following table details merchant loans, advances, and interest and fees receivable as of September 30, 2023 that were modified through a term extension to a merchant experiencing financial difficulty during the three and nine months ended September 30, 2023, and the financial effect of these modifications: Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Merchant loans, advances, and interest and fees receivables: Amortized cost basis (in millions) $ 37 $ 107 Modifications as % of merchant loans, advances, and interest and fees receivables 3 % 8 % Weighted average term extension (months) 25 24 We closely monitor the performance of the merchant loans, advances, and interest and fees receivable that were modified to extend the term to understand the effectiveness of these modification efforts. The following table depicts the performance of merchant loans, advances, and interest and fees receivable as of September 30, 2023 that have been modified during the nine months ended September 30, 2023: September 30, 2023 (In millions) Merchant loans, advances, and interest and fees receivables: Current $ 86 30 - 59 days past due 7 60 - 89 days past due 4 90 - 179 days past due 10 Total $ 107 A merchant is considered in payment default after a modification when the merchant’s payment is 60 days past their expected or contractual repayment date. Merchant loans, advances, and interest and fees receivable modified to extend the term since January 1, 2023 that subsequently defaulted were not material during the three and nine months ended September 30, 2023.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
DEBT	DEBT FIXED RATE NOTES In June 2023, we issued fixed rate notes with varying maturity dates for an aggregate principal amount of ¥90 billion (approximately $603 million as of September 30, 2023). Interest on these notes is payable on June 9 and December 9 of each year, beginning on December 9, 2023. In May 2022, May 2020, and September 2019, we issued fixed rate notes with varying maturity dates for an aggregate principal amount of $3.0 billion, $4.0 billion and $5.0 billion, respectively. The notes issued from the June 2023, May 2022, May 2020, and September 2019 debt issuances are senior unsecured obligations and are collectively referred to as the “Notes.” We may redeem the Notes in whole, at any time, or in part (except for the June 2023 notes), from time to time, prior to maturity, at their redemption prices. Upon the occurrence of both a change of control of the Company and a downgrade of the Notes below an investment grade rating, we will be required to offer to repurchase each series of Notes at a price equal to 101% of the then outstanding principal amounts, plus accrued and unpaid interest. The Notes are subject to covenants, including limitations on our ability to create liens on our assets, enter into sale and leaseback transactions, and merge or consolidate with another entity, in each case subject to certain exceptions, limitations, and qualifications. Proceeds from the issuance of these Notes may be used for general corporate purposes, which may include funding the repayment or redemption of outstanding debt, share repurchases, ongoing operations, capital expenditures, acquisitions of businesses, assets, or strategic investments. In May 2022, we repurchased certain notes under the September 2019 and May 2020 debt issuances prior to maturity through tender offers. In addition, in June 2022, we redeemed the outstanding balance of the notes maturing in September 2022 through a make-whole redemption. We repurchased and redeemed $1.6 billion of outstanding notes, as described above, which resulted in de minimis debt extinguishment net gains that were recorded as interest expense within other income (expense), net on our condensed consolidated statements of income (loss). As of September 30, 2023 and December 31, 2022, we had an outstanding aggregate principal amount of $10.6 billion and $10.4 billion, respectively, related to the Notes. The following table summarizes the Notes: Maturities Effective Interest Rate September 30, December 31, (in millions) September 2019 debt issuance: Fixed-rate 2.400% notes 10/1/2024 2.52% $ 1,250 $ 1,250 Fixed-rate 2.650% notes 10/1/2026 2.78% 1,250 1,250 Fixed-rate 2.850% notes 10/1/2029 2.96% 1,500 1,500 May 2020 debt issuance: Fixed-rate 1.350% notes 6/1/2023 1.55% — 418 Fixed-rate 1.650% notes 6/1/2025 1.78% 1,000 1,000 Fixed-rate 2.300% notes 6/1/2030 2.39% 1,000 1,000 Fixed-rate 3.250% notes 6/1/2050 3.33% 1,000 1,000 May 2022 debt issuance: Fixed-rate 3.900% notes 6/1/2027 4.06% 500 500 Fixed-rate 4.400% notes 6/1/2032 4.53% 1,000 1,000 Fixed-rate 5.050% notes 6/1/2052 5.14% 1,000 1,000 Fixed-rate 5.250% notes 6/1/2062 5.34% 500 500 June 2023 debt issuance (1) : ¥30 billion fixed-rate 0.813% notes 6/9/2025 0.89% 201 — ¥23 billion fixed-rate 0.972% notes 6/9/2026 1.06% 154 — ¥37 billion fixed-rate 1.240% notes 6/9/2028 1.31% 248 — Total term debt $ 10,603 $ 10,418 Unamortized premium (discount) and issuance costs, net (71) (74) Less: current portion of term debt (2) — (418) Total carrying amount of term debt $ 10,532 $ 9,926 (1) Principal amounts represent the U.S. dollar equivalent as of September 30, 2023 and December 31, 2022, respectively. (2) The current portion of term debt is included within accrued expenses and other current liabilities on our condensed consolidated balance sheets. The effective interest rates for the Notes include interest on the Notes, amortization of debt issuance costs, and amortization of the debt discount. The interest expense recorded for the Notes, including amortization of the debt discount and debt issuance costs, was $84 million and $250 million for the three and nine months ended September 30, 2023, respectively. The interest expense recorded for the Notes, including amortization of the debt discount, debt issuance costs, and debt extinguishment net gains, was $83 million and $206 million for the three and nine months ended September 30, 2022, respectively. CREDIT FACILITIES Five-year revolving credit facility In June 2023, we entered into a credit agreement (the “Credit Agreement”) that provides for an unsecured $5.0 billion, five-year revolving credit facility and terminated the facility entered into in September 2019. The Credit Agreement includes a $150 million letter of credit sub-facility and a $600 million swingline sub-facility, with available borrowings under the revolving credit facility reduced by the amount of any letters of credit and swingline borrowings outstanding from time to time. Loans borrowed under the Credit Agreement are available in U.S. dollar, Euro, British pound, and Australian dollar, and in each case subject to the sub-limits and other limitations provided in the Credit Agreement. We may also, subject to the agreement of the applicable lenders and satisfaction of specified conditions, increase the commitments under the revolving credit facility by up to $2.0 billion. Subject to specific conditions, we may designate one or more of our subsidiaries as additional borrowers under the Credit Agreement, provided PayPal Holdings, Inc. guarantees the portion of borrowings made available and other obligations of any such subsidiaries under the Credit Agreement. As of September 30, 2023, certain subsidiaries were designated as additional borrowers. Funds borrowed under the Credit Agreement may be used for working capital, capital expenditures, acquisitions, and other purposes not in contravention of the Credit Agreement. We are obligated to pay interest on loans under the Credit Agreement and other customary fees for a credit facility of this size and type, including an upfront fee and an unused commitment fee based on our debt rating. Loans under the Credit Agreement will bear interest at either (i) the applicable term benchmark rate plus a margin (based on the Company’s public debt ratings) ranging from 0.750% to 1.250%, (ii) the applicable Risk-Free Rate (Sterling Overnight Index Average for loans denominated in pounds sterling and Euro Short-Term Rate for loans denominated in euros) rate plus a margin (based on the Company’s public debt ratings) ranging from 0.750% to 1.250%, (iii) the applicable overnight rate plus a margin (based on the Company’s public debt ratings) ranging from 0.750% to 1.250% or (iv) a formula based on the prime rate, the federal funds effective rate or the adjusted term Secured Overnight Financing Rate plus a margin (based on the Company’s public debt ratings) ranging from zero to 0.250%. Subject to certain conditions stated in the Credit Agreement, the Company and any subsidiaries designated as additional borrowers may borrow, prepay and reborrow amounts under the revolving credit facility at any time during the term of the Credit Agreement. The Credit Agreement will terminate and all amounts owing thereunder will be due and payable on June 7, 2028, unless (a) the commitments are terminated earlier, either at the request of the Company or, if an event of default occurs, by the lenders (or automatically in the case of certain bankruptcy-related events), or (b) the maturity date is extended upon the request of the Company, subject to the agreement of the lenders. The Credit Agreement contains customary representations, warranties, affirmative and negative covenants, including a financial covenant, events of default, and indemnification provisions in favor of the lenders. The negative covenants include restrictions regarding the incurrence of liens and the incurrence of subsidiary indebtedness, in each case subject to certain exceptions. The financial covenant requires the Company to meet a quarterly financial test with respect to a maximum consolidated leverage ratio. As of September 30, 2023, no borrowings or letters of credit were outstanding under the Credit Agreement. Accordingly, at September 30, 2023, $5.0 billion of borrowing capacity was available for the purposes permitted by the Credit Agreement, subject to customary conditions to borrowing. Paidy credit agreement In February 2022, we entered into a credit agreement (the “Paidy Credit Agreement”) with Paidy as co-borrower, which provided for an unsecured revolving credit facility of ¥60.0 billion, which was modified in September 2022 to increase the borrowing capacity by ¥30.0 billion for a total borrowing capacity of ¥90.0 billion (approximately $603 million as of September 30, 2023). In June 2023, we repaid borrowings on the Paidy Credit Agreement using proceeds from the June 2023 debt issuance. As of September 30, 2023 and December 31, 2022, ¥16.0 billion (approximately $108 million) and ¥64.3 billion (approximately $491 million) was drawn down under the Paidy Credit Agreement, respectively, which was recorded in long-term debt on our condensed consolidated balance sheets. At September 30, 2023, ¥74.0 billion (approximately $495 million) of borrowing capacity was available for the purposes permitted by the Paidy Credit Agreement, subject to customary conditions to borrowing. During the three and nine months ended September 30, 2023 and 2022, the total interest expense and fees we recorded related to the Paidy Credit Agreement were de minimis. FUTURE PRINCIPAL PAYMENTS As of September 30, 2023, the future principal payments associated with our term debt were as follows (in millions): Remaining 2023 $ — 2024 1,250 2025 1,201 2026 1,404 2027 500 Thereafter 6,248 Total $ 10,603 Other than as provided above, there were no significant changes to the information disclosed in our 2022 Form 10-K.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES COMMITMENTS As of September 30, 2023 and December 31, 2022, approximately $5.7 billion and $4.9 billion, respectively, of unused credit was available to PayPal Credit account holders in the U.K. While this amount represents the total unused credit available, we have not experienced, and do not anticipate, that all our PayPal Credit account holders will access their entire available credit at any given point in time. In addition, the individual lines of credit that make up this unused credit are subject to periodic review and termination based on, among other things, account usage and customer creditworthiness. LITIGATION AND REGULATORY MATTERS Overview We are involved in legal and regulatory proceedings on an ongoing basis. Certain of these proceedings are in early stages and may seek an indeterminate amount of damages or penalties or may require us to change or adopt certain business practices. If we believe that a loss arising from such matters is probable and can be reasonably estimated, we accrue the estimated liability in our financial statements at that time. If only a range of estimated losses can be determined, we accrue an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, we accrue the low end of the range. For those proceedings in which an unfavorable outcome is reasonably possible but not probable, we have disclosed an estimate of the reasonably possible loss or range of losses or we have concluded that an estimate of the reasonably possible loss or range of losses arising directly from the proceeding (i.e., monetary damages or amounts paid in judgment or settlement) are not material. If we cannot estimate the probable or reasonably possible loss or range of losses arising from a legal proceeding, we have disclosed that fact. In assessing the materiality of a legal proceeding, we evaluate, among other factors, the amount of monetary damages claimed, as well as the potential impact of non-monetary remedies sought by plaintiffs (e.g., injunctive relief) that may require us to change our business practices in a manner that could have a material adverse impact on our business. With respect to the matters disclosed in this Note 13, we are unable to estimate the possible loss or range of losses that could potentially result from the application of such non-monetary remedies. Amounts accrued for legal and regulatory proceedings for which we believe a loss is probable and reasonably estimable were not material as of September 30, 2023. Except as otherwise noted for the proceedings described in this Note 13, we have concluded, based on currently available information, that reasonably possible losses arising directly from the proceedings (i.e., monetary damages or amounts paid in judgment or settlement) in excess of our recorded accruals are also not material. Determining legal reserves or possible losses from such matters involves judgment and may not reflect the full range of uncertainties and unpredictable outcomes. We may be exposed to losses in excess of the amount recorded, and such amounts could be material. If any of our estimates and assumptions change or prove to have been incorrect, it could have a material adverse effect on our business, financial position, results of operations, or cash flows. Regulatory proceedings PayPal Australia Pty Limited (“PPAU”) self-reported a potential violation to the Australian Transaction Reports and Analysis Centre (“AUSTRAC”) on May 22, 2019. This self-reported matter relates to PPAU incorrectly filing required international funds transfer instructions over a period of time under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (“AML/CTF Act”). On September 23, 2019, PPAU received a notice from AUSTRAC requiring that PPAU appoint an external auditor (a partner of a firm which is not our independent auditor) to review certain aspects of PPAU’s compliance with its obligations under the AML/CTF Act. The external auditor was appointed on November 1, 2019. AUSTRAC had notified PPAU that its enforcement team was investigating the matters reported upon by the external auditor in its August 31, 2020 final report. As a resolution of this investigation, on March 17, 2023, AUSTRAC’s Chief Executive Officer accepted an enforceable undertaking from PPAU in relation to the self-reported issues. The enforceable undertaking does not include a monetary penalty. The entry into and compliance with the enforceable undertaking will not require a change to our business practices in a manner that could result in a material loss, require significant management time, result in the diversion of significant operational resources, or otherwise adversely affect our business. PPAU is required to deliver an Assurance Action Plan (“AAP”) under the enforceable undertaking to demonstrate that the governance and oversight arrangements following the remedial work completed by PPAU are sustainable and appropriate. The enforceable undertaking requires PPAU to appoint an external auditor. The external auditor was appointed on June 22, 2023 and will assess and report on the appropriateness, sustainability and efficacy of the actions to be taken under the AAP. The external auditor’s final report to PPAU and AUSTRAC is due on or before April 16, 2024. The successful completion of the enforceable undertaking is subject to AUSTRAC’s ultimate review and decision based on the external auditor’s final report. We cannot predict the outcome of the external auditor’s final report or AUSTRAC’s decision. Any failure to comply with the enforceable undertaking could result in penalties or require us to change our business practices. We have received Civil Investigative Demands (“CIDs”) from the Consumer Financial Protection Bureau (“CFPB”) related to Venmo’s unauthorized funds transfers and collections processes, and related matters, including treatment of consumers who request payments but accidentally designate an unintended recipient. The CIDs request the production of documents and answers to written questions. We are cooperating with the CFPB in connection with these CIDs. In February 2022, we received a CID from the Federal Trade Commission (“FTC”) related to PayPal’s practices relating to commercial customers that submit charges on behalf of other merchants or sellers, and related activities. The CID requests the production of documents and answers to written questions. We are cooperating with the FTC in connection with this CID. In January 2023, we received notice of an administrative proceeding and a related request for information from the German Federal Cartel Office (“FCO”) related to terms in PayPal (Europe) S.à.r.l. et Cie, S.C.A.’s contractual terms with merchants in Germany prohibiting surcharging and requiring parity presentation of PayPal relative to other payment methods. We are cooperating with the FCO in connection with this proceeding. In October 2023, we received a CID from the CFPB related to investigation and error-resolution obligations under Regulation E, the presentment of transactions to linked bank accounts, and related matters. The CID requests the production of documents and answers to written questions. We are cooperating with the CFPB in connection with this CID. On November 1, 2023, we received a subpoena from the U.S. SEC Division of Enforcement relating to PayPal USD stablecoin. The subpoena requests the production of documents. We are cooperating with the SEC in connection with this request. Legal proceedings On December 16, 2021 and January 19, 2022, two related putative shareholder derivative actions captioned Pang v. Daniel Schulman, et al. , Case No. 21-cv-09720, and Lalor v. Daniel Schulman, et al. , Case No. 22-cv-00370, respectively, were filed in the U.S. District Court for the Northern District of California (the “California Derivative Actions”), purportedly on behalf of the Company. On August 2, 2022, a related putative shareholder derivative action captioned Jefferson v. Daniel Schulman, et al. , No. 2022-0684, was filed in the Court of Chancery for the State of Delaware (the “Delaware Derivative Action,” and collectively with the California Derivative Actions, the “Derivative Actions”), purportedly on behalf of the Company. The Derivative Actions are based on the same alleged facts and circumstances as the putative securities class action captioned Kang v. PayPal Holdings, Inc., et al. , Case No. 21-cv-06468, that was filed in the U.S. District Court for the Northern District of California (the “Kang Securities Action”), and name certain of our officers, including our former Chief Executive Officer and former Chief Financial Officer, and members of our Board of Directors, as defendants. The Derivative Actions allege claims for breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement, waste of corporate assets, and violations of the Securities Exchange Act of 1934 (“Exchange Act”), and seek to recover damages on behalf of the Company. On February 1, 2022, the court entered an order consolidating the two California Derivative Actions and staying them until all motions to dismiss in the Kang Securities Action are resolved. On June 29, 2023, following the final dismissal of the Kang Securities Action, the Court ordered a stipulation dismissing the California Derivative Actions, without prejudice, and on July 7, 2023, the Court ordered a stipulation dismissing the Delaware Derivative Action, without prejudice. On October 4, 2022, a putative securities class action captioned Defined Benefit Plan of the Mid-Jersey Trucking Industry and Teamsters Local 701 Pension and Annuity Fund v. PayPal Holdings, Inc., et al. , Case No. 22-cv-5864, was filed in the U.S. District Court for the District of New Jersey. On January 11, 2023, the Court appointed Caisse de dépôt et placement du Québec as lead plaintiff and renamed the action In re PayPal Holdings, Inc. Securities Litigation (“PPH Securities Action”). On March 13, 2023, the lead plaintiff filed an amended and consolidated complaint. The PPH Securities Action asserts claims relating to our public statements with respect to net new active accounts (“NNA”) results and guidance, and the detection of illegitimately created accounts. The PPH Securities Action purports to be brought on behalf of purchasers of the Company’s stock between February 3, 2021 and February 1, 2022 (the “Class Period”), and asserts claims for alleged violations of Sections 10(b) of the Exchange Act against the Company, as well as its former Chief Executive Officer, Chief Strategy, Growth and Data Officer, and former Chief Financial Officer (collectively, the “Individual Defendants,” and together with the Company, “Defendants”), and for alleged violations of Sections 20(a) and 20A of the Exchange Act against the Individual Defendants. The complaint alleges that certain public statements made by Defendants during the Class Period were rendered materially false and misleading (which, allegedly, caused the Company’s stock to trade at artificially inflated prices) by the Defendants’ failure to disclose that, among other things, the Company’s incentive campaigns were susceptible to fraud and led to the creation of illegitimate accounts, which allegedly affected the Company’s NNA results and guidance. The PPH Securities Action seeks unspecified compensatory damages on behalf of the putative class members. On November 2, 2022, a putative shareholder derivative action captioned Shah v. Daniel Schulman, et al. , Case No. 22-cv-1445, was filed in the U.S. District Court for the District of Delaware (the “Shah Action”), purportedly on behalf of the Company. On April 4, 2023, a putative shareholder derivative action captioned Nelson v. Daniel Schulman, et. al. , Case No. 23-cv-01913, was filed in the U.S. District Court for the District of New Jersey (the “Nelson Action”) purportedly on behalf of the Company. The Shah and Nelson Actions are based on the same alleged facts and circumstances as the PPH Securities Action, and name certain of our officers, including our former Chief Executive Officer and former Chief Financial Officer, and members of our Board of Directors, as defendants. The Shah and Nelson Actions allege claims for breach of fiduciary duty, aiding and abetting breach of fiduciary duty, unjust enrichment, waste of corporate assets, gross mismanagement and violations of the Exchange Act, and seek to recover damages on behalf of the Company. The Shah and Nelson Actions have been stayed pending further developments in the PPH Securities Action. On December 20, 2022, a civil lawsuit captioned State of Hawai‘i, by its Office of Consumer Protection, v. PayPal, Inc., and PayPal Holdings, Inc., Case No. 1CCV-22-0001610, was filed in the Circuit Court of the First Circuit of the State of Hawai‘i (the “Hawai‘i Action”). The Hawai‘i Action asserts claims for unfair and deceptive acts and practices under Hawai‘i Revised Statutes Sections 480-2(a) and 481A-3(a). Plaintiff seeks injunctive relief as well as unspecified penalties and other monetary relief. On July 14, 2023, the court denied Defendants’ motion to dismiss the complaint. Trial is scheduled to begin in August 2024. General matters Other third parties have from time to time claimed, and others may claim in the future, that we have infringed their intellectual property rights. We are subject to patent disputes and expect that we will increasingly be subject to additional patent infringement claims involving various aspects of our business as our products and services continue to expand in scope and complexity. Such claims may be brought directly or indirectly against our companies and/or against our customers (who may be entitled to contractual indemnification under their contracts with us), and we are subject to increased exposure to such claims as a result of our acquisitions, particularly in cases where we are introducing new products or services in connection with such acquisitions. We have in the past been forced to litigate such claims, and we believe that additional lawsuits alleging such claims will be filed against us. Intellectual property claims, whether meritorious or not, are time-consuming and costly to defend and resolve, could require expensive changes in our methods of doing business, or could require us to enter into costly royalty or licensing agreements on unfavorable terms or make substantial payments to settle claims or to satisfy damages awarded by courts. From time to time, we are involved in other disputes or regulatory inquiries that arise in the ordinary course of business, including suits by our customers (individually or as class actions) or regulators alleging, among other things, improper disclosure of our prices, rules, or policies, that our practices, prices, rules, policies, or customer/user agreements violate applicable law, or that we have acted unfairly or not acted in conformity with such prices, rules, policies, or agreements. In addition to these types of disputes and regulatory inquiries, our operations are also subject to regulatory and legal review and challenges that may reflect the increasing global regulatory focus to which the payments industry is subject and, when taken as a whole with other regulatory and legislative action, such actions could result in the imposition of costly new compliance burdens on our business and customers and may lead to increased costs and decreased transaction volume and revenue. Further, the number and significance of these disputes and inquiries are increasing as our business has grown and expanded in scale and scope, including the number of active accounts and payments transactions on our platform, the range and increasing complexity of the products and services that we offer, and our geographical operations. Any claims or regulatory actions against us, whether meritorious or not, could be time consuming, result in costly litigation, settlement payments, damage awards (including statutory damages for certain causes of action in certain jurisdictions), fines, penalties, injunctive relief, or increased costs of doing business through adverse judgment or settlement, require us to change our business practices in expensive ways, require significant amounts of management time, result in the diversion of significant operational resources, or otherwise harm our business. INDEMNIFICATION PROVISIONS Our agreements with eBay governing our separation from eBay provide for specific indemnity and liability obligations for both eBay and us. Disputes between eBay and us have arisen and others may arise in the future, and an adverse outcome in such matters could materially and adversely impact our business, results of operations, and financial condition. In addition, the indemnity rights we have against eBay under the agreements may not be sufficient to protect us, and our indemnity obligations to eBay may be significant. In the ordinary course of business, we include indemnification provisions in certain of our agreements with parties with whom we have commercial relationships. Under these contracts, we generally indemnify, hold harmless, and agree to reimburse the indemnified party for losses suffered or incurred by the indemnified party in connection with claims by any third party with respect to our domain names, trademarks, logos, and other branding elements to the extent that such marks are related to the subject agreement. We have provided an indemnity for other types of third-party claims, which may include indemnities related to intellectual property rights, confidentiality, willful misconduct, data privacy obligations, and certain breach of contract claims, among others. We have also provided an indemnity to our payments processors in the event of card association fines against the processor arising out of conduct by us or our customers. It is not possible to determine the maximum potential loss under these indemnification provisions due to our limited history of prior indemnification claims and the unique facts and circumstances involved in each particular situation. PayPal has participated in the U.S. Government’s Paycheck Protection Program administered by the U.S. Small Business Administration. Loans made under this program are funded by an independent chartered financial institution that we partner with. We receive a fee for providing services in connection with these loans and retain operational and audit risk related to those activities. We have agreed, under certain circumstances, to indemnify the chartered financial institution and its assignee of a portion of these loans in connection with the services provided for loans made under this program. To date, no significant costs have been incurred, either individually or collectively, in connection with our indemnification provisions. OFF-BALANCE SHEET ARRANGEMENTS As of September 30, 2023 and December 31, 2022, we had no off-balance sheet arrangements that have, or are reasonably likely to have, a current or future material effect on our consolidated financial condition, results of operations, liquidity, capital expenditures, or capital resources. PROTECTION PROGRAMS We provide merchants and consumers with protection programs for certain transactions completed on our payments platform. These programs are intended to protect both merchants and consumers from loss primarily due to fraud and counterparty performance. Our Purchase Protection Program provides protection to consumers for qualifying purchases by reimbursing the consumer for the full amount of the purchase if a purchased item does not arrive or does not match the seller’s description. Our Seller Protection Programs provide protection to merchants against claims that a transaction was not authorized by the buyer or claims that an item was not received by covering the seller for the full amount of the payment on eligible sales. These protection programs are considered assurance-type warranties under applicable accounting standards for which we estimate and record associated costs in transaction and credit losses during the period the payment transaction is completed. At September 30, 2023 and December 31, 2022, the allowance for transaction losses was $67 million and $66 million, respectively. The allowance for negative customer balances was $230 million and $212 million at September 30, 2023 and December 31, 2022, respectively. The following table shows changes in the allowance for transaction losses and negative customer balances related to our protection programs for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Beginning balance $ 346 $ 378 $ 278 $ 355 Provision 329 254 915 956 Realized losses (417) (394) (970) (1,157) Recoveries 39 50 74 134 Ending balance $ 297 $ 288 $ 297 $ 288

STOCK REPURCHASE PROGRAMS

STOCK REPURCHASE PROGRAMS	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
STOCK REPURCHASE PROGRAMS	STOCK REPURCHASE PROGRAMS During the nine months ended September 30, 2023, we repurchased approximately 64 million shares of our common stock for approximately $4.4 billion at an average price of $69.06, excluding excise tax. These shares were purchased in the open market under our stock repurchase programs authorized in July 2018 and June 2022. As of September 30, 2023, a total of approximately $11.5 billion remained available for future repurchases of our common stock under our June 2022 stock repurchase program. The Inflation Reduction Act of 2022 imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. Beginning in the first quarter of 2023, we have reflected the applicable excise tax in treasury stock on our condensed consolidated balance sheet. During the nine months ended September 30, 2023, we recorded $39 million in excise tax within treasury stock on our condensed consolidated balance sheet.

STOCK-BASED PLANS

STOCK-BASED PLANS	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED PLANS	STOCK-BASED PLANSIn May 2023, our stockholders approved an additional authorization of 34.6 million shares to the Amended and Restated PayPal Holdings, Inc. 2015 Equity Incentive Award Plan (the “Plan”). In June 2023, the Company filed a post-effective amendment to the registration statement for the PayPal Holdings, Inc. 2022 Inducement Plan (“Inducement Plan”), which enabled 2.6 million shares previously issuable under the Inducement Plan to be included in the 34.6 million additional shares issuable under the Plan. STOCK-BASED COMPENSATION EXPENSE Stock-based compensation expense for our equity incentive plans are measured based on their estimated fair value at the time of grant and recognized over the award’s vesting period. The impact on our results of operations of recording stock-based compensation expense under our equity incentive plans for the three and nine months ended September 30, 2023 and 2022 was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Customer support and operations $ 79 $ 56 $ 227 $ 196 Sales and marketing 44 27 132 114 Technology and development 156 115 453 380 General and administrative 115 41 315 317 Total stock-based compensation expense $ 394 $ 239 $ 1,127 $ 1,007 Capitalized stock-based compensation expense $ 14 $ 12 $ 38 $ 40

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESOur effective tax rate for the three and nine months ended September 30, 2023 was 18% and 21%, respectively. Our effective tax rate for the three and nine months ended September 30, 2022 was 16% and 34%, respectively. The difference between our effective tax rate and the U.S. federal statutory rate of 21% in the three and nine months ended September 30, 2023 was primarily the result of foreign income taxed at different rates and discrete tax adjustments, including tax expense related to stock-based compensation. The difference between our effective tax rate and the U.S. federal statutory rate of 21% for the three and nine months ended September 30, 2022 was primarily the result of foreign income taxed at different rates, and for the nine months ended September 30, 2022, tax expense related to the intra-group transfer of intellectual property.

RESTRUCTURING AND OTHER CHARGES

RESTRUCTURING AND OTHER CHARGES	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND OTHER CHARGES	RESTRUCTURING AND OTHER CHARGES During the first quarter of 2023, management initiated a global workforce reduction intended to focus resources on core strategic priorities, and improve our cost structure and operating efficiency. The associated restructuring charges during the three and nine months ended September 30, 2023 were $3 million and $120 million, respectively. We primarily incurred employee severance and benefits costs, substantially all of which have been accrued for as of March 31, 2023. The following table summarizes the restructuring reserve activity during the nine months ended September 30, 2023: Employee Severance and Benefits and Other Associated Costs (In millions) Accrued liability as of January 1, 2023 $ 24 Charges 120 Payments (136) Accrued liability as of September 30, 2023 $ 8 During the first quarter of 2022, management initiated a strategic reduction of the existing global workforce intended to streamline and optimize our global operations to enhance operating efficiency. This effort focused on reducing redundant operations and simplifying our organizational structure. The associated restructuring charges during the three and nine months ended September 30, 2022 were $23 million and $114 million, respectively. We primarily incurred employee severance and benefits costs, as well as associated consulting costs under this strategic reduction. The strategic actions associated with this plan were substantially completed by the fourth quarter of 2022.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSAs described in “Note 1—Overview and Summary of Significant Accounting Policies,” in June 2023 we entered into a multi-year agreement with a global investment firm to sell up to €40 billion of eligible consumer installment receivables. In October 2023, we began selling those receivables and as of October 31, 2023, $1.4 billion of such receivables, which were classified as held for sale, have been sold. Following the sale, the global investment firm became the owner of the receivables sold and we no longer hold an ownership interest in these receivables. This transaction was accounted for as a sale, based on our determination that it met the necessary criteria for such accounting including legal isolation of transferred assets, ability of the transferee to pledge or exchange the transferred assets without constraint, and the transfer of control. Accordingly, we no longer record these loan and interest receivables on our consolidated financial statements. We also concluded that our continuing involvement in the arrangement does not negate this determination.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 1,020	$ 1,029	$ 795	$ 1,330	$ (341)	$ 509	$ 2,844	$ 1,498

OVERVIEW AND SUMMARY OF SIGNI_2

OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentation and principles of consolidation The accompanying condensed consolidated financial statements include the financial statements of PayPal and our wholly- and majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Investments in entities where we have the ability to exercise significant influence, but not control, over the investee are accounted for using the equity method of accounting. For such investments, our share of the investee’s results of operations is included in other income (expense), net on our condensed consolidated statements of income (loss). Investments in entities where we do not have the ability to exercise significant influence over the investee are accounted for at fair value or cost minus impairment, if any, adjusted for changes resulting from observable price changes, which are included in other income (expense), net on our condensed consolidated statements of income (loss). Our investment balance is included in long-term investments on our condensed consolidated balance sheets. We determine at the inception of each investment, and re-evaluate if certain events occur, whether an entity in which we have made an investment is considered a variable interest entity (“VIE”). If we determine an investment is in a VIE, we then assess if we are the primary beneficiary, which would require consolidation. As of September 30, 2023 and December 31, 2022, no VIEs qualified for consolidation as the structures of these entities do not provide us with the ability to direct activities that would significantly impact their economic performance. As of September 30, 2023 and December 31, 2022, the carrying value of our investments in nonconsolidated VIEs was $160 million and $128 million, respectively, and is included as non-marketable equity securities applying the equity method of accounting in long-term investments on our condensed consolidated balance sheets. Our maximum exposure to loss related to our nonconsolidated VIEs, which represents funded commitments and any future funding commitments, was $246 million and $232 million as of September 30, 2023 and December 31, 2022, respectively. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”) filed with the United States (“U.S.”) Securities and Exchange Commission (“SEC”) on February 10, 2023. In the opinion of management, these condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair statement of the condensed consolidated financial statements for all interim periods presented. Certain amounts for prior periods have been reclassified to conform to the financial statement presentation as of and for the three and nine months ended September 30, 2023.
Principles of consolidation	Basis of presentation and principles of consolidation The accompanying condensed consolidated financial statements include the financial statements of PayPal and our wholly- and majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Investments in entities where we have the ability to exercise significant influence, but not control, over the investee are accounted for using the equity method of accounting. For such investments, our share of the investee’s results of operations is included in other income (expense), net on our condensed consolidated statements of income (loss). Investments in entities where we do not have the ability to exercise significant influence over the investee are accounted for at fair value or cost minus impairment, if any, adjusted for changes resulting from observable price changes, which are included in other income (expense), net on our condensed consolidated statements of income (loss). Our investment balance is included in long-term investments on our condensed consolidated balance sheets. We determine at the inception of each investment, and re-evaluate if certain events occur, whether an entity in which we have made an investment is considered a variable interest entity (“VIE”). If we determine an investment is in a VIE, we then assess if we are the primary beneficiary, which would require consolidation. As of September 30, 2023 and December 31, 2022, no VIEs qualified for consolidation as the structures of these entities do not provide us with the ability to direct activities that would significantly impact their economic performance. As of September 30, 2023 and December 31, 2022, the carrying value of our investments in nonconsolidated VIEs was $160 million and $128 million, respectively, and is included as non-marketable equity securities applying the equity method of accounting in long-term investments on our condensed consolidated balance sheets. Our maximum exposure to loss related to our nonconsolidated VIEs, which represents funded commitments and any future funding commitments, was $246 million and $232 million as of September 30, 2023 and December 31, 2022, respectively. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”) filed with the United States (“U.S.”) Securities and Exchange Commission (“SEC”) on February 10, 2023. In the opinion of management, these condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair statement of the condensed consolidated financial statements for all interim periods presented. Certain amounts for prior periods have been reclassified to conform to the financial statement presentation as of and for the three and nine months ended September 30, 2023.
Reclassifications	Reclassifications Beginning with the fourth quarter of 2022, we reclassified certain cash flows related to our collateral security arrangements for derivative instruments from cash flows from operating activities to cash flows from investing activities and cash flows from financing activities within the condensed consolidated statements of cash flows. Prior period amounts have been reclassified to conform to the current period presentation. The current period presentation classifies all changes in collateral posted and collateral received related to derivative instruments on our condensed consolidated statements of cash flows as cash flows from investing activities and cash flows from financing activities, respectively. We believe that the current period presentation provides a more meaningful representation of the nature of the cash flows and allows for greater transparency as the cash flows related to the derivatives impact operating cash flows upon settlement exclusive of the offsetting cash flows from collateral.
Use of estimates	Use of estimates The preparation of condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, we evaluate our estimates, including those related to provisions for transaction and credit losses, income taxes, loss contingencies, revenue recognition, the valuation of goodwill and intangible assets, and the valuation of strategic investments. We base our estimates on historical experience and various other assumptions which we believe to be reasonable under the circumstances. Actual results could materially differ from these estimates.
Loans and interest receivable, held for sale	Loans and interest receivable, held for sale Loans and interest receivable, held for sale, represents a portion of our installment consumer receivables that we intend to sell. This portfolio includes the substantial majority of the United Kingdom (“U.K.”) and other European buy now, pay later loan receivables. In June 2023, we entered into a multi-year agreement with a global investment firm to sell up to €40 billion of U.K. and other European buy now, pay later loan receivables, consisting of eligible loans and interest receivable, held for sale at the closing of the transaction and a forward-flow arrangement for the sale of future originations of eligible loans over a 24-month commitment period (together, “eligible consumer installment receivables”). Following the closing of this transaction, which is expected to occur in the fourth quarter of 2023, the global investment firm will become the owner of the eligible consumer installment receivables and we will no longer hold an ownership interest in these receivables. We will maintain the servicing rights and receive a servicing fee for the entire pool of the eligible consumer installment receivables outstanding.
Recently adopted accounting guidance	Recently adopted accounting guidance In March 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-02, Troubled Debt Restructurings (“TDRs”) and Vintage Disclosures (Topic 326): Financial Instruments – Credit Losses . This amended guidance eliminated the accounting designation of a loan modification as a TDR and the measurement guidance for TDRs. The amendments also enhanced existing disclosure requirements and introduced new requirements related to modifications of receivables due from borrowers experiencing financial difficulty. Additionally, this guidance required entities to disclose gross charge-offs by year of origination for financing receivables, such as loans and interest receivable. The amended guidance was effective for fiscal years beginning after December 15, 2022 and was required to be applied prospectively, except for the recognition and measurement of TDRs, which could be applied on a modified retrospective basis. We adopted this guidance effective January 1, 2023 on a prospective basis. Our financial statements were not materially impacted upon adoption. For additional information, see “Note 11—Loans and Interest Receivable.” There are other new accounting pronouncements issued by the FASB that we have adopted or will adopt, as applicable. We do not believe any of these accounting pronouncements have had, or will have, a material impact on our condensed consolidated financial statements or disclosures.

OVERVIEW AND SUMMARY OF SIGNI_3

OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of reclassifications	The following table presents the effects of the changes on the presentation of these cash flows to the previously reported condensed consolidated statements of cash flows: Nine Months Ended September 30, 2022 (In millions) As Previously Reported (1) Adjustments Reclassified Net cash provided by (used in): Operating activities (2) $ 4,656 $ (434) $ 4,222 Investing activities (3) (3,286) (3) (3,289) Financing activities (4) (2,422) 437 (1,985) Effect of exchange rates on cash, cash equivalents, and restricted cash (253) — (253) Net decrease in cash, cash equivalents, and restricted cash $ (1,305) $ — $ (1,305) (1) As reported in our Form 10-Q for the quarter ended September 30, 2022 filed with the SEC on November 4, 2022. (2) Financial statement line impacted in operating activities was “Other assets and liabilities.” (3) Financial statement line impacted in investing activities was “Collateral posted related to derivative instruments, net.” (4) Financial statement line impacted in financing activities was “Collateral received related to derivative instruments, net.”

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of disaggregation of revenue	The following table presents our revenue disaggregated by primary geographical market and category: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Primary geographical markets U.S. $ 4,257 $ 3,978 $ 12,614 $ 11,512 Other countries (1) 3,161 2,868 9,131 8,623 Total net revenues (2) $ 7,418 $ 6,846 $ 21,745 $ 20,135 Revenue category Transaction revenues $ 6,654 $ 6,234 $ 19,574 $ 18,504 Revenues from other value added services 764 612 2,171 1,631 Total net revenues (2) $ 7,418 $ 6,846 $ 21,745 $ 20,135 (1) No single country included in the other countries category generated more than 10% of total net revenues. (2) Total net revenues include $433 million and $391 million for the three months ended September 30, 2023 and 2022, respectively, and $1.3 billion and $874 million for the nine months ended September 30, 2023 and 2022, respectively, which do not represent revenues recognized in the scope of Accounting Standards Codification Topic 606, Revenue from contracts with customers . Such revenues relate to interest and fees earned on loans and interest receivable, including loans and interest receivable held for sale, hedging gains or losses, and interest earned on certain assets underlying customer balances.

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The following table sets forth the computation of basic and diluted net income (loss) per share for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions, except per share amounts) Numerator: Net income (loss) $ 1,020 $ 1,330 $ 2,844 $ 1,498 Denominator: Weighted average shares of common stock - basic 1,094 1,154 1,111 1,159 Dilutive effect of equity incentive awards 4 3 4 4 Weighted average shares of common stock - diluted 1,098 1,157 1,115 1,163 Net income (loss) per share: Basic $ 0.93 $ 1.15 $ 2.56 $ 1.29 Diluted $ 0.93 $ 1.15 $ 2.55 $ 1.29 Common stock equivalents excluded from income (loss) per diluted share because their effect would have been anti-dilutive or potentially dilutive 22 14 20 13

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill balances and adjustments	The following table presents goodwill balances and adjustments to those balances during the nine months ended September 30, 2023: December 31, Goodwill Acquired Adjustments September 30, (In millions) Total goodwill $ 11,209 $ — $ (274) $ 10,935
Components of identifiable intangible assets	The components of identifiable intangible assets were as follows: September 30, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Useful Life (Years) (In millions, except years) Intangible assets: Customer lists and user base $ 1,521 $ (1,099) $ 422 7 $ 1,664 $ (1,092) $ 572 7 Marketing related 383 (345) 38 5 395 (339) 56 5 Developed technology 1,011 (991) 20 3 1,099 (1,048) 51 3 All other 428 (344) 84 7 438 (329) 109 7 Intangible assets, net $ 3,343 $ (2,779) $ 564 $ 3,596 $ (2,808) $ 788
Expected future intangible asset amortization	Expected future intangible asset amortization as of September 30, 2023 was as follows (in millions): Fiscal years: Remaining 2023 $ 48 2024 178 2025 148 2026 91 2027 56 Thereafter 43 Total $ 564

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Schedule of components of lease expense, supplemental cash and noncash, balance sheet information, and impairment charges	The components of lease expense were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Lease expense Operating lease expense $ 39 $ 43 $ 119 $ 128 Sublease income (2) (2) (6) (6) Lease expense, net $ 37 $ 41 $ 113 $ 122 Supplemental cash flow information related to leases was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 45 $ 44 $ 131 $ 127 Right-of-use (“ROU”) lease assets obtained in exchange for new operating lease liabilities $ (23) $ 5 $ (1) $ 99 Other non-cash ROU lease asset activity (1) $ (15) $ (11) $ (40) $ (36) (1) ROU lease asset impairment. Refer to “Note 17—Restructuring and Other Charges” for further details. Supplemental balance sheet information related to leases was as follows: September 30, December 31, (In millions, except weighted-average figures) Operating ROU lease assets $ 423 $ 574 Current operating lease liabilities 147 151 Operating lease liabilities 449 569 Total operating lease liabilities $ 596 $ 720 Weighted-average remaining lease term — operating leases 5.0 years 5.7 years Weighted-average discount rate — operating leases 4 % 3 %
Schedule of future minimum operating lease payments	Future minimum lease payments for our operating leases as of September 30, 2023 were as follows: Operating Leases Fiscal years: (In millions) Remaining 2023 $ 44 2024 160 2025 122 2026 108 2027 86 Thereafter 137 Total $ 657 Less: present value discount (61) Lease liability $ 596

OTHER FINANCIAL STATEMENT DET_2

OTHER FINANCIAL STATEMENT DETAILS (Tables)	9 Months Ended
	Sep. 30, 2023
Other Income and Expenses [Abstract]
Schedule of crypto asset safeguarding liability and corresponding safeguarding asset	The following table summarizes the significant crypto assets we hold for the benefit of our customers and the crypto asset safeguarding liability and corresponding safeguarding asset as of September 30, 2023 and December 31, 2022: September 30, December 31, 2022 (In millions) Bitcoin $ 479 $ 291 Ethereum 316 250 Other 82 63 Crypto asset safeguarding liability $ 877 $ 604 Crypto asset safeguarding asset $ 877 $ 604
Schedule of accumulated other comprehensive income (loss)	The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the three months ended September 30, 2023: Unrealized Gains (Losses) on Cash Flow Hedges Unrealized Gains (Losses) on Investments Foreign Currency Translation Adjustment (“CTA”) Net Investment Hedges CTA Gains (Losses) Estimated Tax (Expense) Benefit Total (In millions) Beginning balance $ (23) $ (403) $ (811) $ 195 $ 46 $ (996) Other comprehensive income (loss) before reclassifications 116 110 (70) 35 (40) 151 Less: Amount of gain reclassified from accumulated other comprehensive income (loss) (“AOCI”) 7 — — — — 7 Net current period other comprehensive income (loss) 109 110 (70) 35 (40) 144 Ending balance $ 86 $ (293) $ (881) $ 230 $ 6 $ (852) The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the three months ended September 30, 2022: Unrealized Gains (Losses) on Cash Flow Hedges Unrealized Gains (Losses) on Investments Foreign CTA Net Investment Hedges CTA Gains (Losses) Estimated Tax (Expense) Benefit Total (In millions) Beginning balance $ 409 $ (544) $ (665) $ 180 $ 56 $ (564) Other comprehensive income (loss) before reclassifications 294 (157) (206) 97 11 39 Less: Amount of gain reclassified from AOCI 156 — — — — 156 Net current period other comprehensive income (loss) 138 (157) (206) 97 11 (117) Ending balance $ 547 $ (701) $ (871) $ 277 $ 67 $ (681) The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the nine months ended September 30, 2023: Unrealized Gains (Losses) on Cash Flow Hedges Unrealized Gains (Losses) on Investments Foreign CTA Net Investment Hedges CTA Gains (Losses) Estimated Tax (Expense) Benefit Total (In millions) Beginning balance $ 111 $ (591) $ (575) $ (1) $ 128 $ (928) Other comprehensive income (loss) before reclassifications 92 273 (306) 231 (122) 168 Less: Amount of gain (loss) reclassified from AOCI 117 (25) — — — 92 Net current period other comprehensive income (loss) (25) 298 (306) 231 (122) 76 Ending balance $ 86 $ (293) $ (881) $ 230 $ 6 $ (852) The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the nine months ended September 30, 2022: Unrealized Gains (Losses) on Cash Flow Hedges Unrealized Gains (Losses) on Investments Foreign CTA Net Investment Hedges CTA Gains (Losses) Estimated Tax (Expense) Benefit Total (In millions) Beginning balance $ 199 $ (87) $ (270) $ 24 $ (2) $ (136) Other comprehensive income (loss) before reclassifications 658 (614) (601) 253 69 (235) Less: Amount of gain reclassified from AOCI 310 — — — — 310 Net current period other comprehensive income (loss) 348 (614) (601) 253 69 (545) Ending balance $ 547 $ (701) $ (871) $ 277 $ 67 $ (681)
Schedule of reclassifications out of AOCI	The following table provides details about reclassifications out of AOCI for the periods presented below: Details about AOCI Components Amount of Gains (Losses) Reclassified from AOCI Affected Line Item in the Statements of Income (Loss) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Gains on cash flow hedges — foreign currency exchange contracts $ 7 $ 156 $ 117 $ 310 Net revenues Losses on investments — — (23) Net revenues Losses on investments — — (2) — Other income (expense), net 7 156 92 310 Income before income taxes — — — — Income tax expense Total reclassifications for the period $ 7 $ 156 $ 92 $ 310 Net income (loss)
Schedule of other income (expense), net	The following table reconciles the components of other income (expense), net for the periods presented below: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Interest income $ 124 $ 48 $ 348 $ 90 Interest expense (86) (87) (260) (215) Net gains (losses) on strategic investments 24 495 205 (163) Other 11 4 25 (49) Other income (expense), net $ 73 $ 460 $ 318 $ (337)

FUNDS RECEIVABLE AND CUSTOMER_2

FUNDS RECEIVABLE AND CUSTOMER ACCOUNTS AND INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of assets underlying funds receivable and customer accounts, short-term and long-term investments	The following table summarizes the assets underlying our funds receivable and customer accounts, short-term investments, and long-term investments as of September 30, 2023 and December 31, 2022: September 30, December 31, (In millions) Funds receivable and customer accounts: Cash and cash equivalents $ 9,761 $ 11,363 Time deposits 96 95 Available-for-sale debt securities 16,360 17,349 Funds receivable 8,424 7,457 Total funds receivable and customer accounts $ 34,641 $ 36,264 Short-term investments: Time deposits $ 507 $ 482 Available-for-sale debt securities 4,218 2,593 Restricted cash 6 17 Total short-term investments $ 4,731 $ 3,092 Long-term investments: Time deposits $ 45 $ 55 Available-for-sale debt securities 1,421 2,817 Strategic investments 2,389 2,146 Total long-term investments $ 3,855 $ 5,018
Schedule of estimated fair value of available-for-sale debt securities	As of September 30, 2023 and December 31, 2022, the estimated fair value of our available-for-sale debt securities included within funds receivable and customer accounts, short-term investments, and long-term investments was as follows: September 30, 2023 (1) Gross Gross Gross Estimated (In millions) Funds receivable and customer accounts: U.S. government and agency securities $ 8,851 $ — $ (146) $ 8,705 Foreign government and agency securities 808 — (16) 792 Corporate debt securities 1,508 — (38) 1,470 Asset-backed securities 1,501 2 (5) 1,498 Municipal securities 579 — (6) 573 Commercial paper 3,078 — (3) 3,075 Short-term investments: U.S. government and agency securities 580 — (6) 574 Foreign government and agency securities 368 — (12) 356 Corporate debt securities 1,143 — (21) 1,122 Asset-backed securities 585 1 (7) 579 Commercial paper 1,588 — (1) 1,587 Long-term investments: U.S. government and agency securities 336 — (20) 316 Foreign government and agency securities 34 — (2) 32 Corporate debt securities 210 — (11) 199 Asset-backed securities 876 — (2) 874 Total available-for-sale debt securities (2) $ 22,045 $ 3 $ (296) $ 21,752 (1) “—” Denotes gross unrealized gain or unrealized loss of less than $1 million in a given position. (2) Excludes foreign currency denominated available-for-sale debt securities accounted for under the fair value option. Refer to “Note 9 — Fair Value Measurement of Assets and Liabilities.” December 31, 2022 (1) Gross Gross Gross Estimated (In millions) Funds receivable and customer accounts: U.S. government and agency securities $ 8,736 $ — $ (252) $ 8,484 Foreign government and agency securities 1,479 — (44) 1,435 Corporate debt securities 1,637 — (82) 1,555 Asset-backed securities 1,324 — (26) 1,298 Municipal securities 410 — (3) 407 Commercial paper 3,702 1 (14) 3,689 Short-term investments: U.S. government and agency securities 815 — (3) 812 Foreign government and agency securities 435 — (11) 424 Corporate debt securities 641 — (14) 627 Asset-backed securities 415 — (9) 406 Commercial paper 324 — — 324 Long-term investments: U.S. government and agency securities 493 — (36) 457 Foreign government and agency securities 386 — (22) 364 Corporate debt securities 987 — (58) 929 Asset-backed securities 1,085 — (18) 1,067 Total available-for-sale debt securities (2) $ 22,869 $ 1 $ (592) $ 22,278 (1) “—” Denotes gross unrealized gain or unrealized loss of less than $1 million in a given position. (2) Excludes foreign currency denominated available-for-sale debt securities accounted for under the fair value option. Refer to “Note 9 — Fair Value Measurement of Assets and Liabilities.”
Schedule of gross unrealized losses and estimated fair value of available-for-sale debt securities in a continuous loss position	As of September 30, 2023 and December 31, 2022, the gross unrealized losses and estimated fair value of our available-for-sale debt securities included within funds receivable and customer accounts, short-term investments, and long-term investments for which an allowance for credit losses was not deemed necessary in the current period, aggregated by the length of time those individual securities have been in a continuous loss position, was as follows: September 30, 2023 (1) Less than 12 months 12 months or longer Total Fair Value Gross Fair Value Gross Fair Value Gross (In millions) Funds receivable and customer accounts: U.S. government and agency securities $ 3,534 $ (22) $ 4,504 $ (124) $ 8,038 $ (146) Foreign government and agency securities 102 (1) 513 (15) 615 (16) Corporate debt securities 124 — 1,346 (38) 1,470 (38) Asset-backed securities 702 (3) 337 (2) 1,039 (5) Municipal securities 389 (4) 155 (2) 544 (6) Commercial paper 2,682 (3) — — 2,682 (3) Short-term investments: U.S. government and agency securities 25 — 150 (6) 175 (6) Foreign government and agency securities — — 356 (12) 356 (12) Corporate debt securities 307 — 793 (21) 1,100 (21) Asset-backed securities 188 (2) 132 (5) 320 (7) Commercial paper 1,537 (1) — — 1,537 (1) Long-term investments: U.S. government and agency securities — — 316 (20) 316 (20) Foreign government and agency securities — — 32 (2) 32 (2) Corporate debt securities — — 199 (11) 199 (11) Asset-backed securities 251 (1) 230 (1) 481 (2) Total available-for-sale debt securities $ 9,841 $ (37) $ 9,063 $ (259) $ 18,904 $ (296) (1) “—” Denotes gross unrealized loss or fair value of less than $1 million in a given position. December 31, 2022 (1) Less than 12 months 12 months or longer Total Fair Value Gross Fair Value Gross Fair Value Gross (In millions) Funds receivable and customer accounts: U.S. government and agency securities $ 3,730 $ (89) $ 4,246 $ (163) $ 7,976 $ (252) Foreign government and agency securities 410 (10) 997 (34) 1,407 (44) Corporate debt securities 9 (1) 1,545 (81) 1,554 (82) Asset-backed securities 773 (12) 508 (14) 1,281 (26) Municipal securities 264 (3) 50 — 314 (3) Commercial paper 3,079 (14) — — 3,079 (14) Short-term investments: U.S. government and agency securities 345 — 73 (3) 418 (3) Foreign government and agency securities 61 — 362 (11) 423 (11) Corporate debt securities 97 (2) 465 (12) 562 (14) Asset-backed securities 175 (2) 217 (7) 392 (9) Commercial paper 224 — — — 224 — Long-term investments: U.S. government and agency securities — — 457 (36) 457 (36) Foreign government and agency securities 31 (2) 333 (20) 364 (22) Corporate debt securities 85 (6) 834 (52) 919 (58) Asset-backed securities 872 (9) 195 (9) 1,067 (18) Total available-for-sale debt securities $ 10,155 $ (150) $ 10,282 $ (442) $ 20,437 $ (592) (1) “—” Denotes gross unrealized loss or fair value of less than $1 million in a given position.
The estimated fair values of investments classified as available for sale included within funds receivable, customer accounts, short-term investments, and long-term investments by date of contractual maturity	Our available-for-sale debt securities included within funds receivable and customer accounts, short-term investments, and long-term investments classified by date of contractual maturity were as follows: September 30, 2023 Amortized Cost Fair Value (In millions) One year or less $ 13,950 $ 13,782 After one year through five years 5,721 5,599 After five years through ten years 2,309 2,307 After ten years 65 64 Total $ 22,045 $ 21,752
Schedule of adjustments to the carrying value of equity investments and summary of cumulative gross unrealized gains and cumulative gross unrealized losses and impairment related to non-marketable equity securities accounted for under the Measurement Alternative	The adjustments to the carrying value of our non-marketable equity securities accounted for under the Measurement Alternative in the three and nine months ended September 30, 2023 and 2022 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Carrying amount, beginning of period $ 1,691 $ 1,574 $ 1,687 $ 1,268 Adjustments related to non-marketable equity securities: Net additions (1) 4 17 30 74 Gross unrealized gains — 174 23 423 Gross unrealized losses and impairments (15) — (60) — Carrying amount, end of period $ 1,680 $ 1,765 $ 1,680 $ 1,765 (1) Net additions include purchases, reductions due to sales of securities, and reclassifications when the Measurement Alternative is subsequently elected or no longer applies. The following table summarizes the cumulative gross unrealized gains and cumulative gross unrealized losses and impairment related to non-marketable equity securities accounted for under the Measurement Alternative, held at September 30, 2023 and December 31, 2022, respectively: September 30, December 31, (In millions) Cumulative gross unrealized gains $ 1,159 $ 1,137 Cumulative gross unrealized losses and impairments $ (188) $ (131)
Schedule of unrealized gains (losses) on strategic investments, excluding those accounted for using the equity method	The following table summarizes the net unrealized gains (losses) on marketable and non-marketable equity securities, excluding those accounted for using the equity method, held at September 30, 2023 and 2022, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Net unrealized gains (losses) $ 13 $ 232 $ 200 $ 220

FAIR VALUE MEASUREMENT OF ASS_2

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of financial assets and liabilities measured at fair value on a recurring basis	The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022: September 30, 2023 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other (In millions) Assets: Cash and cash equivalents (1) $ 677 $ — $ 677 Short-term investments (2) : U.S. government and agency securities 574 — 574 Foreign government and agency securities 356 — 356 Corporate debt securities 1,122 — 1,122 Asset-backed securities 579 — 579 Commercial paper 1,587 — 1,587 Total short-term investments 4,218 — 4,218 Funds receivable and customer accounts (3) : Cash and cash equivalents 398 — 398 U.S. government and agency securities 8,705 — 8,705 Foreign government and agency securities 930 — 930 Corporate debt securities 1,579 — 1,579 Asset-backed securities 1,498 — 1,498 Municipal securities 573 — 573 Commercial paper 3,075 — 3,075 Total funds receivable and customer accounts 16,758 — 16,758 Derivatives 301 — 301 Crypto asset safeguarding asset 877 — 877 Long-term investments (2),(4) : U.S. government and agency securities 316 — 316 Foreign government and agency securities 32 — 32 Corporate debt securities 199 — 199 Asset-backed securities 874 — 874 Marketable equity securities 541 541 — Total long-term investments 1,962 541 1,421 Total financial assets $ 24,793 $ 541 $ 24,252 Liabilities: Derivatives $ 56 $ — $ 56 Crypto asset safeguarding liability 877 — 877 Total financial liabilities $ 933 $ — $ 933 (1) Excludes cash of $6.1 billion not measured and recorded at fair value. (2) Excludes restricted cash of $6 million and time deposits of $552 million not measured and recorded at fair value. (3) Excludes cash, time deposits, and funds receivable of $17.9 billion underlying funds receivable and customer accounts not measured and recorded at fair value. (4) Excludes non-marketable equity securities of $1.8 billion measured using the Measurement Alternative or equity method accounting. December 31, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) (In millions) Assets: Cash and cash equivalents (1) $ 932 $ — $ 932 Short-term investments (2) : U.S. government and agency securities 812 — 812 Foreign government and agency securities 424 — 424 Corporate debt securities 627 — 627 Asset-backed securities 406 — 406 Commercial paper 324 — 324 Total short-term investments 2,593 — 2,593 Funds receivable and customer accounts (3) : Cash and cash equivalents 192 — 192 U.S. government and agency securities 8,484 — 8,484 Foreign government and agency securities 1,777 — 1,777 Corporate debt securities 1,694 — 1,694 Asset-backed securities 1,298 — 1,298 Municipal securities 407 — 407 Commercial paper 3,689 — 3,689 Total funds receivable and customer accounts 17,541 — 17,541 Derivatives 244 — 244 Crypto asset safeguarding asset 604 — 604 Long-term investments (2), (4) : U.S. government and agency securities 457 — 457 Foreign government and agency securities 364 — 364 Corporate debt securities 929 — 929 Asset-backed securities 1,067 — 1,067 Marketable equity securities 323 323 — Total long-term investments 3,140 323 2,817 Total financial assets $ 25,054 $ 323 $ 24,731 Liabilities: Derivatives $ 298 $ — $ 298 Crypto asset safeguarding liability 604 — 604 Total financial liabilities $ 902 $ — $ 902 (1) Excludes cash of $6.8 billion not measured and recorded at fair value. (2) Excludes restricted cash of $17 million and time deposits of $537 million not measured and recorded at fair value. (3) Excludes cash, time deposits, and funds receivable of $18.7 billion underlying funds receivable and customer accounts not measured and recorded at fair value. (4) Excludes non-marketable equity securities of $1.8 billion measured using the Measurement Alternative or equity method accounting.
Summary of investments under the fair value option	The following table summarizes the estimated fair value and amortized cost of our available-for-sale debt securities under the fair value option as of September 30, 2023 and December 31, 2022: September 30, 2023 December 31, 2022 Amortized Cost Fair Value Amortized Cost Fair Value (In millions) (In millions) Funds receivable and customer accounts $ 255 $ 247 $ 441 $ 481 The following table summarizes the gains (losses) from fair value changes recognized in other income (expense), net related to the available-for-sale debt securities under the fair value option for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Funds receivable and customer accounts $ (5) $ (70) $ 6 $ (213)
Summary of financial assets measured at fair value on a non-recurring basis	The following tables summarize our assets held as of September 30, 2023 and December 31, 2022 for which a non-recurring fair value measurement was recorded during the nine months ended September 30, 2023 and the year ended December 31, 2022, respectively: September 30, Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) (In millions) Loans and interest receivable, held for sale $ 2,165 $ — $ 2,165 Non-marketable equity securities measured using the Measurement Alternative (1) 159 111 48 Other assets (2) 112 112 — Total $ 2,436 $ 223 $ 2,213 (1) Excludes non-marketable equity securities of $1.5 billion accounted for under the Measurement Alternative for which no observable price changes occurred during the nine months ended September 30, 2023. (2) Consists of ROU lease assets recorded at fair value pursuant to impairment charges that occurred during the nine months ended September 30, 2023. See “Note 6—Leases” for additional information. December 31, 2022 Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) (In millions) Non-marketable equity investments measured using the Measurement Alternative (1) $ 1,122 $ 724 $ 398 Other assets (2) 165 165 — Total $ 1,287 $ 889 $ 398 (1) Excludes non-marketable equity securities of $565 million accounted for under the Measurement Alternative for which no observable price changes occurred during the year ended December 31, 2022.
Fair value measurement inputs and valuation techniques	The following table presents the valuation techniques covering the majority of Level 3 non-recurring fair value measurements and the most significant unobservable inputs used in those measurements as of September 30, 2023: Fair Value Methodology Input Low (1) High (1) Weighted Average (1)(2) Loans and interest receivable, held for sale $ 2,165 Price-based Price $ 0.98 $ 1.00 $ 0.99 (1) Prices are measured in relation to $1.00 par. (2) Weighted average is calculated based on the fair value of the loans.

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair value of outstanding derivative instruments	The fair value of our outstanding derivative instruments as of September 30, 2023 and December 31, 2022 was as follows: Balance Sheet Location September 30, December 31, (In millions) Derivative Assets: Foreign currency exchange contracts designated as hedging instruments Other current assets $ 105 $ 167 Foreign currency exchange contracts designated as hedging instruments Other assets (non-current) 94 15 Foreign currency exchange contracts not designated as hedging instruments Other current assets 102 62 Total derivative assets $ 301 $ 244 Derivative Liabilities: Foreign currency exchange contracts designated as hedging instruments Other current liabilities $ 19 $ 68 Foreign currency exchange contracts designated as hedging instruments Other long-term liabilities — 133 Foreign currency exchange contracts not designated as hedging instruments Other current liabilities 37 97 Total derivative liabilities $ 56 $ 298
Schedule of offsetting assets	The following table provides the collateral posted and received: September 30, December 31, (In millions) Cash collateral posted (1) $ 16 $ 24 Cash collateral received (2) $ 138 $ 203 (1) Right to reclaim cash collateral related to our derivative liabilities recognized in other current assets on our condensed consolidated balance sheets. (2) Obligation to return counterparty cash collateral related to our derivative assets recognized in other current liabilities on our condensed consolidated balance sheets.
Schedule of offsetting liabilities	The following table provides the collateral posted and received: September 30, December 31, (In millions) Cash collateral posted (1) $ 16 $ 24 Cash collateral received (2) $ 138 $ 203 (1) Right to reclaim cash collateral related to our derivative liabilities recognized in other current assets on our condensed consolidated balance sheets. (2) Obligation to return counterparty cash collateral related to our derivative assets recognized in other current liabilities on our condensed consolidated balance sheets.
Gains or losses related to derivative instruments designated as hedging instruments	The following tables provide the location in the condensed consolidated statements of income (loss) and amount of recognized gains or losses related to our derivative instruments: Three Months Ended September 30, 2023 2022 (In millions) Net revenues Other income (expense), net Net revenues Other income (expense), net Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded $ 7,418 $ 73 $ 6,846 $ 460 Gains (losses) on derivatives in cash flow hedging relationship: Amount of gains on foreign currency exchange contracts reclassified from AOCI 7 — 156 — Gains (losses) on derivatives in net investment hedging relationship: Amount of gains on foreign currency exchange contracts excluded from the assessment of effectiveness — 20 — 27 Gains (losses) on derivatives not designated as hedging instruments: Amount of gains on foreign currency exchange contracts — 54 — 52 Amount of losses on equity derivative contracts (1) — — — (174) Total gains (losses) $ 7 $ 74 $ 156 $ (95) (1) During the three months ended September 30, 2022, equity derivative contracts were entered into and matured in association with the sale of marketable equity securities related to a strategic investment. Nine Months Ended September 30, 2023 2022 (In millions) Net revenues Other income (expense), net Net revenues Other income (expense), net Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded $ 21,745 $ 318 $ 20,135 $ (337) Gains (losses) on derivatives in cash flow hedging relationship: Amount of gains on foreign exchange contracts reclassified from AOCI 117 — 310 — Gains (losses) on derivatives in net investment hedging relationship: Amount of gains on foreign exchange contracts excluded from the assessment of effectiveness — 79 — 53 Gains (losses) on derivatives not designated as hedging instruments: Amount of (losses) gains on foreign exchange contracts — (102) — 160 Amount of losses on equity derivative contracts (1) — — — (174) Total gains (losses) $ 117 $ (23) $ 310 $ 39 (1) During the nine months ended September 30, 2022, equity derivative contracts were entered into and matured in association with the sale of marketable equity securities related to a strategic investment. The cash flows associated with the equity derivative contracts were classified in cash flows from investing activities on our condensed consolidated statements of cash flows. The following table provides the amount of pre-tax unrealized gains or losses included in the assessment of hedge effectiveness related to our derivative instruments designated as hedging instruments that are recognized in other comprehensive income (loss): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Unrealized gains on foreign exchange contracts designated as cash flow hedges $ 116 $ 294 $ 92 $ 658 Unrealized gains on foreign exchange contracts designated as net investment hedges 35 97 231 253 Total unrealized gains recognized from derivative contracts designated as hedging instruments in the condensed consolidated statements of comprehensive income (loss) $ 151 $ 391 $ 323 $ 911
Recognized gains or losses related to derivative instruments not designated as hedging instruments	The following tables provide the location in the condensed consolidated statements of income (loss) and amount of recognized gains or losses related to our derivative instruments: Three Months Ended September 30, 2023 2022 (In millions) Net revenues Other income (expense), net Net revenues Other income (expense), net Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded $ 7,418 $ 73 $ 6,846 $ 460 Gains (losses) on derivatives in cash flow hedging relationship: Amount of gains on foreign currency exchange contracts reclassified from AOCI 7 — 156 — Gains (losses) on derivatives in net investment hedging relationship: Amount of gains on foreign currency exchange contracts excluded from the assessment of effectiveness — 20 — 27 Gains (losses) on derivatives not designated as hedging instruments: Amount of gains on foreign currency exchange contracts — 54 — 52 Amount of losses on equity derivative contracts (1) — — — (174) Total gains (losses) $ 7 $ 74 $ 156 $ (95) (1) During the three months ended September 30, 2022, equity derivative contracts were entered into and matured in association with the sale of marketable equity securities related to a strategic investment. Nine Months Ended September 30, 2023 2022 (In millions) Net revenues Other income (expense), net Net revenues Other income (expense), net Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded $ 21,745 $ 318 $ 20,135 $ (337) Gains (losses) on derivatives in cash flow hedging relationship: Amount of gains on foreign exchange contracts reclassified from AOCI 117 — 310 — Gains (losses) on derivatives in net investment hedging relationship: Amount of gains on foreign exchange contracts excluded from the assessment of effectiveness — 79 — 53 Gains (losses) on derivatives not designated as hedging instruments: Amount of (losses) gains on foreign exchange contracts — (102) — 160 Amount of losses on equity derivative contracts (1) — — — (174) Total gains (losses) $ 117 $ (23) $ 310 $ 39
Schedule of notional amounts of outstanding derivatives	The following table provides the notional amounts of our outstanding derivatives: September 30, December 31, (In millions) Foreign exchange contracts designated as hedging instruments $ 6,336 $ 7,149 Foreign exchange contracts not designated as hedging instruments 9,387 11,840 Total $ 15,723 $ 18,989

LOANS AND INTEREST RECEIVABLE (

LOANS AND INTEREST RECEIVABLE (Tables)	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Delinquency status of the principal amount of loans and interest receivable	The following tables present the delinquency status and gross charge-offs of consumer loans and interest receivable by year of origination. The amounts are based on the number of days past the billing date for revolving loans or contractual repayment date for installment loans. The “current” category represents balances that are within 29 days of the billing date or contractual repayment date, as applicable. September 30, 2023 (In millions, except percentages) Revolving Loans Installment Loans Amortized Cost Basis 2023 2022 2021 2020 2019 Total Percent Consumer loans and interest receivable: Current $ 1,993 $ 1,609 $ 412 $ 11 $ — $ — $ 4,025 95.4% 30 - 59 Days 26 30 6 1 — — 63 1.5% 60 - 89 Days 18 22 6 — — — 46 1.1% 90 - 179 Days 35 37 11 1 — — 84 2.0% Total $ 2,072 $ 1,698 $ 435 $ 13 $ — $ — $ 4,218 100% Gross charge-offs for the nine months ended September 30, 2023 $ 95 $ 43 $ 129 $ 5 $ — $ — $ 272 December 31, 2022 (In millions, except percentages) Revolving Loans Installment Loans Amortized Cost Basis 2022 2021 2020 2019 2018 Total Percent Consumer loans and interest receivable: Current $ 1,850 $ 3,726 $ 123 $ — $ — $ — $ 5,699 97.1% 30 - 59 Days 23 26 2 — — — 51 0.9% 60 - 89 Days 15 20 2 — — — 37 0.6% 90 - 179 Days 34 47 4 — — — 85 1.4% Total (1) $ 1,922 $ 3,819 $ 131 $ — $ — $ — $ 5,872 100% (1) Excludes receivables from other consumer credit products of $11 million at December 31, 2022. The following tables present the delinquency status and gross charge-offs of merchant loans, advances, and interest and fees receivable by year of origination. The amounts are based on the number of days past the expected or contractual repayment date for amounts outstanding. The “current” category represents balances that are within 29 days of the expected repayment date or contractual repayment date, as applicable. September 30, 2023 (In millions, except percentages) 2023 2022 2021 2020 2019 Total Percent Merchant loans, advances, and interest and fees receivable: Current $ 988 $ 173 $ 5 $ 30 $ 20 $ 1,216 86.7% 30 - 59 Days 30 24 2 1 3 60 4.3% 60 - 89 Days 15 17 — 1 1 34 2.4% 90 - 179 Days 27 53 2 2 1 85 6.1% 180+ Days — 4 2 1 1 8 0.5% Total $ 1,060 $ 271 $ 11 $ 35 $ 26 $ 1,403 100% Gross charge-offs for the nine months ended September 30, 2023 $ 12 $ 185 $ 13 $ 14 $ 4 $ 228 December 31, 2022 (In millions, except percentages) 2022 2021 2020 2019 2018 Total Percent Merchant loans, advances, and interest and fees receivable: Current $ 1,826 $ 20 $ 57 $ 42 $ 2 $ 1,947 90.7% 30 - 59 Days 63 7 3 4 — 77 3.6% 60 - 89 Days 34 4 4 2 — 44 2.0% 90 - 179 Days 55 9 3 3 — 70 3.3% 180+ Days 1 2 2 3 — 8 0.4% Total $ 1,979 $ 42 $ 69 $ 54 $ 2 $ 2,146 100%
Allowance for loans and interest receivable	The following table summarizes the activity in the allowance for consumer loans and interest receivable for the nine months ended September 30, 2023 and 2022: September 30, 2023 September 30, 2022 Consumer Loans Receivable Interest Receivable Total Allowance (1) Consumer Loans Receivable Interest Receivable Total Allowance (2) (In millions) Beginning balance $ 322 $ 25 $ 347 $ 243 $ 43 $ 286 Reversal of allowance due to reclassification of loans and interest receivable to held for sale (33) — (33) — — — Provisions 271 20 291 198 9 207 Charge-offs (250) (22) (272) (149) (22) (171) Recoveries 29 — 29 14 — 14 Other (3) (5) — (5) (41) (6) (47) Ending balance $ 334 $ 23 $ 357 $ 265 $ 24 $ 289 (1) Beginning balances, provisions and charge-offs include amounts related to loans and interest receivable prior to their reclassification to loan and interest receivable, held for sale. (2) Excludes allowances from other consumer credit products of $2 million at September 30, 2022. (3) Includes amounts related to foreign currency remeasurement. The following table summarizes the activity in the allowance for merchant loans, advances, and interest and fees receivable for the nine months ended September 30, 2023 and 2022: September 30, 2023 September 30, 2022 Merchant Loans and Advances Interest and Fees Receivable Total Allowance Merchant Loans and Advances Interest and Fees Receivable Total Allowance (In millions) Beginning balance $ 230 $ 18 $ 248 $ 192 $ 9 $ 201 Provisions 135 24 159 31 9 40 Charge-offs (204) (24) (228) (75) (6) (81) Recoveries 19 — 19 27 — 27 Ending balance $ 180 $ 18 $ 198 $ 175 $ 12 $ 187
Loan modifications for merchants experiencing financial difficulty	The following table details merchant loans, advances, and interest and fees receivable as of September 30, 2023 that were modified through a term extension to a merchant experiencing financial difficulty during the three and nine months ended September 30, 2023, and the financial effect of these modifications: Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Merchant loans, advances, and interest and fees receivables: Amortized cost basis (in millions) $ 37 $ 107 Modifications as % of merchant loans, advances, and interest and fees receivables 3 % 8 % Weighted average term extension (months) 25 24 September 30, 2023 (In millions) Merchant loans, advances, and interest and fees receivables: Current $ 86 30 - 59 days past due 7 60 - 89 days past due 4 90 - 179 days past due 10 Total $ 107

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of outstanding aggregate principal amount related to the notes	The following table summarizes the Notes: Maturities Effective Interest Rate September 30, December 31, (in millions) September 2019 debt issuance: Fixed-rate 2.400% notes 10/1/2024 2.52% $ 1,250 $ 1,250 Fixed-rate 2.650% notes 10/1/2026 2.78% 1,250 1,250 Fixed-rate 2.850% notes 10/1/2029 2.96% 1,500 1,500 May 2020 debt issuance: Fixed-rate 1.350% notes 6/1/2023 1.55% — 418 Fixed-rate 1.650% notes 6/1/2025 1.78% 1,000 1,000 Fixed-rate 2.300% notes 6/1/2030 2.39% 1,000 1,000 Fixed-rate 3.250% notes 6/1/2050 3.33% 1,000 1,000 May 2022 debt issuance: Fixed-rate 3.900% notes 6/1/2027 4.06% 500 500 Fixed-rate 4.400% notes 6/1/2032 4.53% 1,000 1,000 Fixed-rate 5.050% notes 6/1/2052 5.14% 1,000 1,000 Fixed-rate 5.250% notes 6/1/2062 5.34% 500 500 June 2023 debt issuance (1) : ¥30 billion fixed-rate 0.813% notes 6/9/2025 0.89% 201 — ¥23 billion fixed-rate 0.972% notes 6/9/2026 1.06% 154 — ¥37 billion fixed-rate 1.240% notes 6/9/2028 1.31% 248 — Total term debt $ 10,603 $ 10,418 Unamortized premium (discount) and issuance costs, net (71) (74) Less: current portion of term debt (2) — (418) Total carrying amount of term debt $ 10,532 $ 9,926 (1) Principal amounts represent the U.S. dollar equivalent as of September 30, 2023 and December 31, 2022, respectively. (2) The current portion of term debt is included within accrued expenses and other current liabilities on our condensed consolidated balance sheets.
Schedule of future principal payments associated with long term debt	As of September 30, 2023, the future principal payments associated with our term debt were as follows (in millions): Remaining 2023 $ — 2024 1,250 2025 1,201 2026 1,404 2027 500 Thereafter 6,248 Total $ 10,603

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of allowance for transaction losses and negative customer balances	The following table shows changes in the allowance for transaction losses and negative customer balances related to our protection programs for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in millions) Beginning balance $ 346 $ 378 $ 278 $ 355 Provision 329 254 915 956 Realized losses (417) (394) (970) (1,157) Recoveries 39 50 74 134 Ending balance $ 297 $ 288 $ 297 $ 288

STOCK-BASED PLANS (Tables)

STOCK-BASED PLANS (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense	The impact on our results of operations of recording stock-based compensation expense under our equity incentive plans for the three and nine months ended September 30, 2023 and 2022 was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In millions) Customer support and operations $ 79 $ 56 $ 227 $ 196 Sales and marketing 44 27 132 114 Technology and development 156 115 453 380 General and administrative 115 41 315 317 Total stock-based compensation expense $ 394 $ 239 $ 1,127 $ 1,007 Capitalized stock-based compensation expense $ 14 $ 12 $ 38 $ 40

RESTRUCTURING AND OTHER CHARG_2

RESTRUCTURING AND OTHER CHARGES (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of restructuring reserve activity by type of cost	The following table summarizes the restructuring reserve activity during the nine months ended September 30, 2023: Employee Severance and Benefits and Other Associated Costs (In millions) Accrued liability as of January 1, 2023 $ 24 Charges 120 Payments (136) Accrued liability as of September 30, 2023 $ 8

OVERVIEW AND SUMMARY OF SIGNI_4

OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Basis of Presentation and Principles of Consolidation (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Long-term investments	$ 3,855	$ 5,018
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Long-term investments	160	128
Variable interest entity, reporting entity involvement, maximum loss exposure, amount	$ 246	$ 232

OVERVIEW AND SUMMARY OF SIGNI_5

OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reclassifications (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Reclassification [Line Items]
Net cash provided by (used in) operating activities	$ 2,229	$ 4,222
Net cash provided by (used in) investing activities	1,286	(3,289)
Net cash provided by (used in) financing activities	(5,993)	(1,985)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(95)	(253)
Net change in cash, cash equivalents, and restricted cash	$ (2,573)	(1,305)
As Previously Reported
Reclassification [Line Items]
Net cash provided by (used in) operating activities		4,656
Net cash provided by (used in) investing activities		(3,286)
Net cash provided by (used in) financing activities		(2,422)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash		(253)
Net change in cash, cash equivalents, and restricted cash		(1,305)
Adjustments
Reclassification [Line Items]
Net cash provided by (used in) operating activities		(434)
Net cash provided by (used in) investing activities		(3)
Net cash provided by (used in) financing activities		437
Effect of exchange rate changes on cash, cash equivalents, and restricted cash		0
Net change in cash, cash equivalents, and restricted cash		$ 0

OVERVIEW AND SUMMARY OF SIGNI_6

OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Loans And Interest Receivable, Held For Sale (Details) - Consumer Receivables $ in Millions, € in Billions	1 Months Ended	3 Months Ended	9 Months Ended
	Jun. 30, 2023 EUR (€)	Dec. 31, 2023	Sep. 30, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum eligible consumer installment receivables to be sold subject to agreement	€ 40		$ 1,200
Forecast
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivable origination commitment period		24 months
Transaction And Credit Losses
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reversal of allowance due to reclassification of loans and interest receivable to held for sale			$ 33

REVENUE - Additional Informatio

REVENUE - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 segment
Revenue from Contract with Customer [Abstract]
Number of operating segments	1
Number of reportable segments	1

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Net revenues	$ 7,418	$ 6,846	$ 21,745	$ 20,135
Transaction revenues
Disaggregation of Revenue [Line Items]
Net revenues	6,654	6,234	19,574	18,504
Revenues from other value added services
Disaggregation of Revenue [Line Items]
Net revenues	764	612	2,171	1,631
Interest and fees earned on loans and interest receivable, as well as hedging gains or losses, and interest earned on certain assets underlying customer balances
Disaggregation of Revenue [Line Items]
Net revenues which do not represent revenues recognized in the scope of ASC Topic 606	433	391	1,300	874
U.S.
Disaggregation of Revenue [Line Items]
Net revenues	4,257	3,978	12,614	11,512
Other countries
Disaggregation of Revenue [Line Items]
Net revenues	$ 3,161	$ 2,868	$ 9,131	$ 8,623

NET INCOME (LOSS) PER SHARE (De

NET INCOME (LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net income (loss), basic	$ 1,020	$ 1,330	$ 2,844	$ 1,498
Net income (loss), diluted	$ 1,020	$ 1,330	$ 2,844	$ 1,498
Denominator:
Weighted average shares of common stock - basic (in shares)	1,094	1,154	1,111	1,159
Dilutive effect of equity incentive awards (in shares)	4	3	4	4
Weighted average shares of common stock - diluted (in shares)	1,098	1,157	1,115	1,163
Net income (loss) per share:
Basic (in dollars per share)	$ 0.93	$ 1.15	$ 2.56	$ 1.29
Diluted (in dollars per share)	$ 0.93	$ 1.15	$ 2.55	$ 1.29
Common stock equivalents excluded from income per diluted share because their effect would have been anti-dilutive or potentially dilutive (in shares)	22	14	20	13

BUSINESS COMBINATIONS AND DIV_2

BUSINESS COMBINATIONS AND DIVESTITURES (Details) $ in Millions	3 Months Ended			9 Months Ended
	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($) business	Sep. 30, 2022 business	Sep. 30, 2023 USD ($) business	Sep. 30, 2022 business	Nov. 01, 2023 USD ($)
Business Acquisition [Line Items]
Number of businesses acquired or divested | business		0	0	0	0
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Happy Returns
Business Acquisition [Line Items]
Asset held for sale, goodwill		$ 81		$ 81
Asset held for sale, intangible assets other than goodwill		$ 13		$ 13
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Happy Returns | Subsequent Event
Business Acquisition [Line Items]
Value of consideration for sale of business						$ 465
Forecast | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Happy Returns
Business Acquisition [Line Items]
Pre-tax gain on sale of business	$ 329

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Goodwill Balances and Adjustments (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Total goodwill
Beginning balance	$ 11,209
Goodwill Acquired	0
Adjustments	(274)
Ending balance	$ 10,935

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Components of Identifiable Intangible Assets (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,343	$ 3,596
Accumulated Amortization	(2,779)	(2,808)
Net Carrying Amount	564	788
Customer lists and user base
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,521	1,664
Accumulated Amortization	(1,099)	(1,092)
Net Carrying Amount	$ 422	$ 572
Weighted Average Useful Life (Years)	7 years	7 years
Marketing related
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 383	$ 395
Accumulated Amortization	(345)	(339)
Net Carrying Amount	$ 38	$ 56
Weighted Average Useful Life (Years)	5 years	5 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,011	$ 1,099
Accumulated Amortization	(991)	(1,048)
Net Carrying Amount	$ 20	$ 51
Weighted Average Useful Life (Years)	3 years	3 years
All other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 428	$ 438
Accumulated Amortization	(344)	(329)
Net Carrying Amount	$ 84	$ 109
Weighted Average Useful Life (Years)	7 years	7 years

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Fully amortized intangible assets retired	$ 49		$ 141
Amortization expense for intangible assets	57	$ 118	172	$ 356
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Happy Returns
Finite-Lived Intangible Assets [Line Items]
Asset held for sale, goodwill	81		81
Gross intangible assets reclassified as assets held for sale	36		36
Asset held for sale, intangible assets other than goodwill	13		13
Developed technology
Finite-Lived Intangible Assets [Line Items]
Fully amortized intangible assets retired	35		62
Customer lists and user base
Finite-Lived Intangible Assets [Line Items]
Fully amortized intangible assets retired	$ 14		$ 79

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Expected Future Intangible Asset Amortization (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fiscal years:
2023	$ 48
2024	178
2025	148
2026	91
2027	56
Thereafter	43
Net Carrying Amount	$ 564	$ 788

LEASES - Schedules of Component

LEASES - Schedules of Components of Lease Expense, Supplemental Cash and Noncash And Balance Sheet Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Lease expense
Operating lease expense	$ 39	$ 43	$ 119	$ 128
Sublease income	(2)	(2)	(6)	(6)
Lease expense, net	37	41	113	122
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	45	44	131	127
Right-of-use (“ROU”) lease assets obtained in exchange for new operating lease liabilities	(23)	5	(1)	99
Other non-cash ROU lease asset activity	$ (15)	$ (11)	$ (40)	$ (36)
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets		Other assets		Other assets
Operating ROU lease assets	$ 423		$ 423		$ 574
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities		Accrued expenses and other current liabilities		Accrued expenses and other current liabilities
Current operating lease liabilities	$ 147		$ 147		$ 151
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Deferred tax liability and other long-term liabilities		Deferred tax liability and other long-term liabilities		Deferred tax liability and other long-term liabilities
Operating lease liabilities	$ 449		$ 449		$ 569
Total operating lease liabilities	$ 596		$ 596		$ 720
Weighted-average remaining lease term—operating leases	5 years		5 years		5 years 8 months 12 days
Weighted-average discount rate—operating leases	4%		4%		3%

LEASES - Schedule of Future Min

LEASES - Schedule of Future Minimum Operating Lease Payments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fiscal years:
2023	$ 44
2024	160
2025	122
2026	108
2027	86
Thereafter	137
Total	657
Less: present value discount	(61)
Lease liability	$ 596	$ 720

LEASES - Additional Information

LEASES - Additional Information (Details) $ in Millions	Sep. 30, 2023 USD ($)
Operating Leased Assets [Line Items]
Operating lease, lease not yet commenced, amount	$ 244
Minimum
Operating Leased Assets [Line Items]
Operating lease, lease not yet commenced, term of contract	5 years
Maximum
Operating Leased Assets [Line Items]
Operating lease, lease not yet commenced, term of contract	8 years

OTHER FINANCIAL STATEMENT DET_3

OTHER FINANCIAL STATEMENT DETAILS - Crypto Asset Safeguarding Liability and Corresponding Asset (Details) $ in Millions	Sep. 30, 2023 USD ($) custodian	Dec. 31, 2022 USD ($)
Schedule of Crypto-asset Safeguarding Asset and Liability [Line Items]
Number of third-party custodians | custodian	2
Accrued Expenses and Other Current Liabilities
Schedule of Crypto-asset Safeguarding Asset and Liability [Line Items]
Crypto asset safeguarding liability	$ 877	$ 604
Prepaid Expenses and Other Current Assets
Schedule of Crypto-asset Safeguarding Asset and Liability [Line Items]
Crypto asset safeguarding asset	877	604
Bitcoin | Accrued Expenses and Other Current Liabilities
Schedule of Crypto-asset Safeguarding Asset and Liability [Line Items]
Crypto asset safeguarding liability	479	291
Bitcoin | Prepaid Expenses and Other Current Assets
Schedule of Crypto-asset Safeguarding Asset and Liability [Line Items]
Crypto asset safeguarding asset	479	291
Ethereum | Accrued Expenses and Other Current Liabilities
Schedule of Crypto-asset Safeguarding Asset and Liability [Line Items]
Crypto asset safeguarding liability	316	250
Ethereum | Prepaid Expenses and Other Current Assets
Schedule of Crypto-asset Safeguarding Asset and Liability [Line Items]
Crypto asset safeguarding asset	316	250
Other | Accrued Expenses and Other Current Liabilities
Schedule of Crypto-asset Safeguarding Asset and Liability [Line Items]
Crypto asset safeguarding liability	82	63
Other | Prepaid Expenses and Other Current Assets
Schedule of Crypto-asset Safeguarding Asset and Liability [Line Items]
Crypto asset safeguarding asset	$ 82	$ 63

OTHER FINANCIAL STATEMENT DET_4

OTHER FINANCIAL STATEMENT DETAILS - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accumulated Balances of Other Comprehensive Income (Loss), Net of Tax
Beginning balance	$ 19,661	$ 19,767	$ 20,274	$ 21,727
Other comprehensive income (loss) before reclassifications	151	39	168	(235)
Less: Amount of gain (loss) reclassified from accumulated other comprehensive income (loss)	7	156	92	310
Other comprehensive income (loss), net of tax	144	(117)	76	(545)
Ending balance	19,740	20,264	19,740	20,264
Accumulated Other Comprehensive Income (Loss)
Accumulated Balances of Other Comprehensive Income (Loss), Estimated Tax Benefit (Expense)
Beginning balance	46	56	128	(2)
Other comprehensive income (loss) before reclassifications	(40)	11	(122)	69
Less: Amount of gain (loss) reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Net current period other comprehensive income (loss)	(40)	11	(122)	69
Ending balance	6	67	6	67
Accumulated Balances of Other Comprehensive Income (Loss), Net of Tax
Beginning balance	(996)	(564)	(928)	(136)
Ending balance	(852)	(681)	(852)	(681)
Unrealized Gains (Losses) on Cash Flow Hedges
Accumulated Balances of Other Comprehensive Income (Loss), Before Tax
Beginning balance	(23)	409	111	199
Other comprehensive income (loss) before reclassifications	116	294	92	658
Less: Amount of gain (loss) reclassified from accumulated other comprehensive income (loss)	7	156	117	310
Net current period other comprehensive income (loss)	109	138	(25)	348
Ending balance	86	547	86	547
Unrealized Gains (Losses) on Investments
Accumulated Balances of Other Comprehensive Income (Loss), Before Tax
Beginning balance	(403)	(544)	(591)	(87)
Other comprehensive income (loss) before reclassifications	110	(157)	273	(614)
Less: Amount of gain (loss) reclassified from accumulated other comprehensive income (loss)	0	0	(25)	0
Net current period other comprehensive income (loss)	110	(157)	298	(614)
Ending balance	(293)	(701)	(293)	(701)
Foreign Currency Translation Adjustment (“CTA”)
Accumulated Balances of Other Comprehensive Income (Loss), Before Tax
Beginning balance	(811)	(665)	(575)	(270)
Other comprehensive income (loss) before reclassifications	(70)	(206)	(306)	(601)
Less: Amount of gain (loss) reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Net current period other comprehensive income (loss)	(70)	(206)	(306)	(601)
Ending balance	(881)	(871)	(881)	(871)
Net Investment Hedges CTA Gains (Losses)
Accumulated Balances of Other Comprehensive Income (Loss), Before Tax
Beginning balance	195	180	(1)	24
Other comprehensive income (loss) before reclassifications	35	97	231	253
Less: Amount of gain (loss) reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Net current period other comprehensive income (loss)	35	97	231	253
Ending balance	$ 230	$ 277	$ 230	$ 277

OTHER FINANCIAL STATEMENT DET_5

OTHER FINANCIAL STATEMENT DETAILS - Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) on Derivatives (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) on Derivatives [Line Items]
Net revenues	$ 7,418			$ 6,846			$ 21,745	$ 20,135
Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded (other income (expense), net)	73			460			318	(337)
Income before income taxes	1,241			1,578			3,618	2,256
Income tax expense	221			248			774	758
Net income (loss)	1,020	$ 1,029	$ 795	1,330	$ (341)	$ 509	2,844	1,498
Amount of Gains (Losses) Reclassified From Accumulated Other Comprehensive Income (loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) on Derivatives [Line Items]
Income before income taxes	7			156			92	310
Income tax expense	0			0			0	0
Net income (loss)	7			156			92	310
Amount of Gains (Losses) Reclassified From Accumulated Other Comprehensive Income (loss) | Gains on cash flow hedges—foreign currency exchange contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) on Derivatives [Line Items]
Net revenues	7			156			117	310
Amount of Gains (Losses) Reclassified From Accumulated Other Comprehensive Income (loss) | Losses on investments
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) on Derivatives [Line Items]
Net revenues	0			0			(23)
Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded (other income (expense), net)	$ 0			$ 0			$ (2)	$ 0

OTHER FINANCIAL STATEMENT DET_6

OTHER FINANCIAL STATEMENT DETAILS - Other Income (Expense), Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Other Income and Expenses [Abstract]
Interest income	$ 124	$ 48	$ 348	$ 90
Interest expense	(86)	(87)	(260)	(215)
Net gains (losses) on strategic investments	24	495	205	(163)
Other	11	4	25	(49)
Other income (expense), net	$ 73	$ 460	$ 318	$ (337)

FUNDS RECEIVABLE AND CUSTOMER_3

FUNDS RECEIVABLE AND CUSTOMER ACCOUNTS AND INVESTMENTS - Schedule of Assets Underlying Funds Receivable and Customer Accounts, Short-term Investments, and Long-term Investments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Funds receivable and customer accounts:
Total funds receivable and customer accounts	$ 34,641	$ 36,264
Short-term investments:
Time deposits	507	482
Available-for-sale debt securities	4,218	2,593
Restricted cash	6	17
Total short-term investments	4,731	3,092
Long-term investments:
Time deposits	45	55
Available-for-sale debt securities	1,421	2,817
Strategic investments	2,389	2,146
Total long-term investments	3,855	5,018
Cash and cash equivalents
Funds receivable and customer accounts:
Total funds receivable and customer accounts	9,761	11,363
Time deposits
Funds receivable and customer accounts:
Total funds receivable and customer accounts	96	95
Available-for-sale debt securities
Funds receivable and customer accounts:
Total funds receivable and customer accounts	16,360	17,349
Funds receivable
Funds receivable and customer accounts:
Total funds receivable and customer accounts	$ 8,424	$ 7,457

FUNDS RECEIVABLE AND CUSTOMER_4

FUNDS RECEIVABLE AND CUSTOMER ACCOUNTS AND INVESTMENTS - Estimated Fair Value of Investments Classified as Available for Sale (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	$ 22,045	$ 22,869
Gross Unrealized Gains	3	1
Gross Unrealized Losses	(296)	(592)
Estimated Fair Value	21,752	22,278
Funds receivable and customer accounts | U.S. government and agency securities
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	8,851	8,736
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(146)	(252)
Estimated Fair Value	8,705	8,484
Funds receivable and customer accounts | Foreign government and agency securities
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	808	1,479
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(16)	(44)
Estimated Fair Value	792	1,435
Funds receivable and customer accounts | Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	1,508	1,637
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(38)	(82)
Estimated Fair Value	1,470	1,555
Funds receivable and customer accounts | Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	1,501	1,324
Gross Unrealized Gains	2	0
Gross Unrealized Losses	(5)	(26)
Estimated Fair Value	1,498	1,298
Funds receivable and customer accounts | Municipal securities
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	579	410
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(6)	(3)
Estimated Fair Value	573	407
Funds receivable and customer accounts | Commercial paper
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	3,078	3,702
Gross Unrealized Gains	0	1
Gross Unrealized Losses	(3)	(14)
Estimated Fair Value	3,075	3,689
Short-term investments | U.S. government and agency securities
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	580	815
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(6)	(3)
Estimated Fair Value	574	812
Short-term investments | Foreign government and agency securities
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	368	435
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(12)	(11)
Estimated Fair Value	356	424
Short-term investments | Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	1,143	641
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(21)	(14)
Estimated Fair Value	1,122	627
Short-term investments | Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	585	415
Gross Unrealized Gains	1	0
Gross Unrealized Losses	(7)	(9)
Estimated Fair Value	579	406
Short-term investments | Commercial paper
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	1,588	324
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(1)	0
Estimated Fair Value	1,587	324
Long-Term Investments | U.S. government and agency securities
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	336	493
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(20)	(36)
Estimated Fair Value	316	457
Long-Term Investments | Foreign government and agency securities
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	34	386
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(2)	(22)
Estimated Fair Value	32	364
Long-Term Investments | Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	210	987
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(11)	(58)
Estimated Fair Value	199	929
Long-Term Investments | Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Gross Amortized Cost	876	1,085
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(2)	(18)
Estimated Fair Value	$ 874	$ 1,067

FUNDS RECEIVABLE AND CUSTOMER_5

FUNDS RECEIVABLE AND CUSTOMER ACCOUNTS AND INVESTMENTS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Accrued interest receivable	$ 94	$ 94	$ 65
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Proceeds from the sale of available-for-sale debt securities	$ 772	$ 2,700
Gross realized losses on available-for-sale debt securities		$ 25

FUNDS RECEIVABLE AND CUSTOMER_6

FUNDS RECEIVABLE AND CUSTOMER ACCOUNTS AND INVESTMENTS - Available-for-sale Debt Securities in Continuous Loss Position (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value
Less than 12 months	$ 9,841	$ 10,155
12 months or longer	9,063	10,282
Total	18,904	20,437
Gross Unrealized Losses
Less than 12 months	(37)	(150)
12 months or longer	(259)	(442)
Total	(296)	(592)
Funds receivable and customer accounts | U.S. government and agency securities
Fair Value
Less than 12 months	3,534	3,730
12 months or longer	4,504	4,246
Total	8,038	7,976
Gross Unrealized Losses
Less than 12 months	(22)	(89)
12 months or longer	(124)	(163)
Total	(146)	(252)
Funds receivable and customer accounts | Foreign government and agency securities
Fair Value
Less than 12 months	102	410
12 months or longer	513	997
Total	615	1,407
Gross Unrealized Losses
Less than 12 months	(1)	(10)
12 months or longer	(15)	(34)
Total	(16)	(44)
Funds receivable and customer accounts | Corporate debt securities
Fair Value
Less than 12 months	124	9
12 months or longer	1,346	1,545
Total	1,470	1,554
Gross Unrealized Losses
Less than 12 months	0	(1)
12 months or longer	(38)	(81)
Total	(38)	(82)
Funds receivable and customer accounts | Asset-backed securities
Fair Value
Less than 12 months	702	773
12 months or longer	337	508
Total	1,039	1,281
Gross Unrealized Losses
Less than 12 months	(3)	(12)
12 months or longer	(2)	(14)
Total	(5)	(26)
Funds receivable and customer accounts | Municipal securities
Fair Value
Less than 12 months	389	264
12 months or longer	155	50
Total	544	314
Gross Unrealized Losses
Less than 12 months	(4)	(3)
12 months or longer	(2)	0
Total	(6)	(3)
Funds receivable and customer accounts | Commercial paper
Fair Value
Less than 12 months	2,682	3,079
12 months or longer	0	0
Total	2,682	3,079
Gross Unrealized Losses
Less than 12 months	(3)	(14)
12 months or longer	0	0
Total	(3)	(14)
Short-term investments | U.S. government and agency securities
Fair Value
Less than 12 months	25	345
12 months or longer	150	73
Total	175	418
Gross Unrealized Losses
Less than 12 months	0	0
12 months or longer	(6)	(3)
Total	(6)	(3)
Short-term investments | Foreign government and agency securities
Fair Value
Less than 12 months	0	61
12 months or longer	356	362
Total	356	423
Gross Unrealized Losses
Less than 12 months	0	0
12 months or longer	(12)	(11)
Total	(12)	(11)
Short-term investments | Corporate debt securities
Fair Value
Less than 12 months	307	97
12 months or longer	793	465
Total	1,100	562
Gross Unrealized Losses
Less than 12 months	0	(2)
12 months or longer	(21)	(12)
Total	(21)	(14)
Short-term investments | Asset-backed securities
Fair Value
Less than 12 months	188	175
12 months or longer	132	217
Total	320	392
Gross Unrealized Losses
Less than 12 months	(2)	(2)
12 months or longer	(5)	(7)
Total	(7)	(9)
Short-term investments | Commercial paper
Fair Value
Less than 12 months	1,537	224
12 months or longer	0	0
Total	1,537	224
Gross Unrealized Losses
Less than 12 months	(1)	0
12 months or longer	0	0
Total	(1)	0
Long-Term Investments | U.S. government and agency securities
Fair Value
Less than 12 months	0	0
12 months or longer	316	457
Total	316	457
Gross Unrealized Losses
Less than 12 months	0	0
12 months or longer	(20)	(36)
Total	(20)	(36)
Long-Term Investments | Foreign government and agency securities
Fair Value
Less than 12 months	0	31
12 months or longer	32	333
Total	32	364
Gross Unrealized Losses
Less than 12 months	0	(2)
12 months or longer	(2)	(20)
Total	(2)	(22)
Long-Term Investments | Corporate debt securities
Fair Value
Less than 12 months	0	85
12 months or longer	199	834
Total	199	919
Gross Unrealized Losses
Less than 12 months	0	(6)
12 months or longer	(11)	(52)
Total	(11)	(58)
Long-Term Investments | Asset-backed securities
Fair Value
Less than 12 months	251	872
12 months or longer	230	195
Total	481	1,067
Gross Unrealized Losses
Less than 12 months	(1)	(9)
12 months or longer	(1)	(9)
Total	$ (2)	$ (18)

FUNDS RECEIVABLE AND CUSTOMER_7

FUNDS RECEIVABLE AND CUSTOMER ACCOUNTS AND INVESTMENTS - Estimated Fair Values of Investments Classified as Available for Sale by Contractual Maturity (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Amortized Cost
One year or less	$ 13,950
After one year through five years	5,721
After five years through ten years	2,309
After ten years	65
Gross Amortized Cost	22,045	$ 22,869
Fair Value
One year or less	13,782
After one year through five years	5,599
After five years through ten years	2,307
After ten years	64
Fair Value	$ 21,752	$ 22,278

FUNDS RECEIVABLE AND CUSTOMER_8

FUNDS RECEIVABLE AND CUSTOMER ACCOUNTS AND INVESTMENTS - Strategic Investments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Carrying value of marketable equity securities recorded in long-term investments	$ 541	$ 323
Carrying value of non-marketable equity securities which do not have readily determinable fair value	1,800	1,800
Carrying value of non-marketable equity	$ 168	$ 136

FUNDS RECEIVABLE AND CUSTOMER_9

FUNDS RECEIVABLE AND CUSTOMER ACCOUNTS AND INVESTMENTS - Measurement Alternative Adjustments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Equity Securities without Readily Determinable Fair Value [Roll Forward]
Carrying amount, beginning of period	$ 1,691	$ 1,574	$ 1,687	$ 1,268
Adjustments related to non-marketable equity securities:
Net additions	4	17	30	74
Gross unrealized gains	0	174	23	423
Gross unrealized losses and impairments	(15)	0	(60)	0
Carrying amount, end of period	$ 1,680	$ 1,765	$ 1,680	$ 1,765

FUNDS RECEIVABLE AND CUSTOME_10

FUNDS RECEIVABLE AND CUSTOMER ACCOUNTS AND INVESTMENTS - Summary of Cumulative Gross Unrealized Gains and Cumulative Gross Unrealized Losses and Impairment Related to Non-marketable Equity Securities Accounted for Under the Measurement Alternative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Cumulative gross unrealized gains	$ 1,159	$ 1,137
Cumulative gross unrealized losses and impairments	$ (188)	$ (131)

FUNDS RECEIVABLE AND CUSTOME_11

FUNDS RECEIVABLE AND CUSTOMER ACCOUNTS AND INVESTMENTS - Schedule of Unrealized Gains (Losses) on Strategic Investments, Excluding Those Accounted for Using the Equity Method (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Net unrealized gains (losses)	$ 13	$ 232	$ 200	$ 220

FAIR VALUE MEASUREMENT OF ASS_3

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Assets:
Funds receivable and customer accounts	$ 34,641	$ 36,264
Cash and cash equivalents
Assets:
Funds receivable and customer accounts	9,761	11,363
Fair value, measurements, recurring basis
Assets:
Cash and cash equivalents	677	932
Funds receivable and customer accounts	16,758	17,541
Derivatives	301	244
Crypto asset safeguarding asset	877	604
Total financial assets	24,793	25,054
Liabilities:
Derivatives	56	298
Crypto asset safeguarding liability	877	604
Total financial liabilities	933	902
Fair value, measurements, recurring basis | Cash and cash equivalents
Assets:
Funds receivable and customer accounts	398	192
Fair value, measurements, recurring basis | U.S. government and agency securities
Assets:
Funds receivable and customer accounts	8,705	8,484
Fair value, measurements, recurring basis | Foreign government and agency securities
Assets:
Funds receivable and customer accounts	930	1,777
Fair value, measurements, recurring basis | Corporate debt securities
Assets:
Funds receivable and customer accounts	1,579	1,694
Fair value, measurements, recurring basis | Asset-backed securities
Assets:
Funds receivable and customer accounts	1,498	1,298
Fair value, measurements, recurring basis | Commercial paper
Assets:
Funds receivable and customer accounts	3,075	3,689
Fair value, measurements, recurring basis | Municipal securities
Assets:
Funds receivable and customer accounts	573	407
Fair value, measurements, recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash and cash equivalents	0	0
Funds receivable and customer accounts	0	0
Derivatives	0	0
Crypto asset safeguarding asset	0	0
Total financial assets	541	323
Liabilities:
Derivatives	0	0
Crypto asset safeguarding liability	0	0
Total financial liabilities	0	0
Fair value, measurements, recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Cash and cash equivalents
Assets:
Funds receivable and customer accounts	0	0
Fair value, measurements, recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government and agency securities
Assets:
Funds receivable and customer accounts	0	0
Fair value, measurements, recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreign government and agency securities
Assets:
Funds receivable and customer accounts	0	0
Fair value, measurements, recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate debt securities
Assets:
Funds receivable and customer accounts	0	0
Fair value, measurements, recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Asset-backed securities
Assets:
Funds receivable and customer accounts	0	0
Fair value, measurements, recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial paper
Assets:
Funds receivable and customer accounts	0	0
Fair value, measurements, recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Municipal securities
Assets:
Funds receivable and customer accounts	0	0
Fair value, measurements, recurring basis | Significant Other Observable Inputs (Level 2)
Assets:
Cash and cash equivalents	677	932
Funds receivable and customer accounts	16,758	17,541
Derivatives	301	244
Crypto asset safeguarding asset	877	604
Total financial assets	24,252	24,731
Liabilities:
Derivatives	56	298
Crypto asset safeguarding liability	877	604
Total financial liabilities	933	902
Fair value, measurements, recurring basis | Significant Other Observable Inputs (Level 2) | Cash and cash equivalents
Assets:
Funds receivable and customer accounts	398	192
Fair value, measurements, recurring basis | Significant Other Observable Inputs (Level 2) | U.S. government and agency securities
Assets:
Funds receivable and customer accounts	8,705	8,484
Fair value, measurements, recurring basis | Significant Other Observable Inputs (Level 2) | Foreign government and agency securities
Assets:
Funds receivable and customer accounts	930	1,777
Fair value, measurements, recurring basis | Significant Other Observable Inputs (Level 2) | Corporate debt securities
Assets:
Funds receivable and customer accounts	1,579	1,694
Fair value, measurements, recurring basis | Significant Other Observable Inputs (Level 2) | Asset-backed securities
Assets:
Funds receivable and customer accounts	1,498	1,298
Fair value, measurements, recurring basis | Significant Other Observable Inputs (Level 2) | Commercial paper
Assets:
Funds receivable and customer accounts	3,075	3,689
Fair value, measurements, recurring basis | Significant Other Observable Inputs (Level 2) | Municipal securities
Assets:
Funds receivable and customer accounts	573	407
Fair value, measurements, recurring basis | Short-term investments
Assets:
Investments	4,218	2,593
Fair value, measurements, recurring basis | Short-term investments | U.S. government and agency securities
Assets:
Investments	574	812
Fair value, measurements, recurring basis | Short-term investments | Foreign government and agency securities
Assets:
Investments	356	424
Fair value, measurements, recurring basis | Short-term investments | Corporate debt securities
Assets:
Investments	1,122	627
Fair value, measurements, recurring basis | Short-term investments | Asset-backed securities
Assets:
Investments	579	406
Fair value, measurements, recurring basis | Short-term investments | Commercial paper
Assets:
Investments	1,587	324
Fair value, measurements, recurring basis | Short-term investments | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Investments	0	0
Fair value, measurements, recurring basis | Short-term investments | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government and agency securities
Assets:
Investments	0	0
Fair value, measurements, recurring basis | Short-term investments | Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreign government and agency securities
Assets:
Investments	0	0
Fair value, measurements, recurring basis | Short-term investments | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate debt securities
Assets:
Investments	0	0
Fair value, measurements, recurring basis | Short-term investments | Quoted Prices in Active Markets for Identical Assets (Level 1) | Asset-backed securities
Assets:
Investments	0	0
Fair value, measurements, recurring basis | Short-term investments | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial paper
Assets:
Investments	0	0
Fair value, measurements, recurring basis | Short-term investments | Significant Other Observable Inputs (Level 2)
Assets:
Investments	4,218	2,593
Fair value, measurements, recurring basis | Short-term investments | Significant Other Observable Inputs (Level 2) | U.S. government and agency securities
Assets:
Investments	574	812
Fair value, measurements, recurring basis | Short-term investments | Significant Other Observable Inputs (Level 2) | Foreign government and agency securities
Assets:
Investments	356	424
Fair value, measurements, recurring basis | Short-term investments | Significant Other Observable Inputs (Level 2) | Corporate debt securities
Assets:
Investments	1,122	627
Fair value, measurements, recurring basis | Short-term investments | Significant Other Observable Inputs (Level 2) | Asset-backed securities
Assets:
Investments	579	406
Fair value, measurements, recurring basis | Short-term investments | Significant Other Observable Inputs (Level 2) | Commercial paper
Assets:
Investments	1,587	324
Fair value, measurements, recurring basis | Long-Term Investments
Assets:
Investments	1,962	3,140
Fair value, measurements, recurring basis | Long-Term Investments | U.S. government and agency securities
Assets:
Investments	316	457
Fair value, measurements, recurring basis | Long-Term Investments | Foreign government and agency securities
Assets:
Investments	32	364
Fair value, measurements, recurring basis | Long-Term Investments | Corporate debt securities
Assets:
Investments	199	929
Fair value, measurements, recurring basis | Long-Term Investments | Asset-backed securities
Assets:
Investments	874	1,067
Fair value, measurements, recurring basis | Long-Term Investments | Marketable equity securities
Assets:
Investments	541	323
Fair value, measurements, recurring basis | Long-Term Investments | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Investments	541	323
Fair value, measurements, recurring basis | Long-Term Investments | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government and agency securities
Assets:
Investments	0	0
Fair value, measurements, recurring basis | Long-Term Investments | Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreign government and agency securities
Assets:
Investments	0	0
Fair value, measurements, recurring basis | Long-Term Investments | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate debt securities
Assets:
Investments	0	0
Fair value, measurements, recurring basis | Long-Term Investments | Quoted Prices in Active Markets for Identical Assets (Level 1) | Asset-backed securities
Assets:
Investments	0	0
Fair value, measurements, recurring basis | Long-Term Investments | Quoted Prices in Active Markets for Identical Assets (Level 1) | Marketable equity securities
Assets:
Investments	541	323
Fair value, measurements, recurring basis | Long-Term Investments | Significant Other Observable Inputs (Level 2)
Assets:
Investments	1,421	2,817
Fair value, measurements, recurring basis | Long-Term Investments | Significant Other Observable Inputs (Level 2) | U.S. government and agency securities
Assets:
Investments	316	457
Fair value, measurements, recurring basis | Long-Term Investments | Significant Other Observable Inputs (Level 2) | Foreign government and agency securities
Assets:
Investments	32	364
Fair value, measurements, recurring basis | Long-Term Investments | Significant Other Observable Inputs (Level 2) | Corporate debt securities
Assets:
Investments	199	929
Fair value, measurements, recurring basis | Long-Term Investments | Significant Other Observable Inputs (Level 2) | Asset-backed securities
Assets:
Investments	874	1,067
Fair value, measurements, recurring basis | Long-Term Investments | Significant Other Observable Inputs (Level 2) | Marketable equity securities
Assets:
Investments	$ 0	$ 0

FAIR VALUE MEASUREMENT OF ASS_4

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis Footnote Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash	$ 6,100	$ 6,800
Restricted cash	6	17
Time deposits, current and noncurrent	552	537
Funds receivable and customer accounts	34,641	36,264
Carrying value of non-marketable equity securities which do not have readily determinable fair value	1,800	1,800
Cash, time deposits and funds receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Funds receivable and customer accounts	$ 17,900	$ 18,700

FAIR VALUE MEASUREMENT OF ASS_5

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Summary of Investments Under the Fair Value Option (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale, amortized cost, excluding accrued interest, after allowance for credit loss	$ 22,045		$ 22,045		$ 22,869
Debt securities, available-for-sale, excluding accrued interest	21,752		21,752		22,278
Fair Value Option, Investments | Funds receivable and customer accounts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale, amortized cost, excluding accrued interest, after allowance for credit loss	255		255		441
Debt securities, available-for-sale, excluding accrued interest	247		247		$ 481
Net gains (losses) from fair value changes	$ (5)	$ (70)	$ 6	$ (213)

FAIR VALUE MEASUREMENT OF ASS_6

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Summary of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities measured at cost minus impairment	$ 1,680	$ 1,691	$ 1,687	$ 1,765	$ 1,574	$ 1,268
Fair Value, measurements, not on a recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and interest receivable, held for sale	2,165
Non-marketable equity securities measured using the Measurement Alternative	159		1,122
Other assets	112		165
Total financial assets	2,436		1,287
Equity securities measured at cost minus impairment	1,500		565
Fair Value, measurements, not on a recurring basis | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and interest receivable, held for sale	0
Non-marketable equity securities measured using the Measurement Alternative	111		724
Other assets	112		165
Total financial assets	223		889
Fair Value, measurements, not on a recurring basis | Significant Other Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and interest receivable, held for sale	2,165
Non-marketable equity securities measured using the Measurement Alternative	48		398
Other assets	0		0
Total financial assets	$ 2,213		$ 398

FAIR VALUE MEASUREMENT OF ASS_7

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Summary of Significant Unobservable Inputs of Loans and Interest Receivable Held For Sale (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Fair Value, measurements, not on a recurring basis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans and interest receivable, held for sale	$ 2,165,000,000
Significant Other Unobservable Inputs (Level 3) | Fair Value, measurements, not on a recurring basis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans and interest receivable, held for sale	2,165,000,000
Significant Other Unobservable Inputs (Level 3) | Fair Value, measurements, not on a recurring basis | Price-based
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans and interest receivable, held for sale	$ 2,165,000,000
Common stock, par value (in dollars per share)	$ 1
Significant Other Unobservable Inputs (Level 3) | Fair Value, measurements, not on a recurring basis | Price-based | Low | Measurement Input, Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable, held for sale, measurement input	0.98
Significant Other Unobservable Inputs (Level 3) | Fair Value, measurements, not on a recurring basis | Price-based | High | Measurement Input, Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable, held for sale, measurement input	1
Significant Other Unobservable Inputs (Level 3) | Fair Value, measurements, not on a recurring basis | Price-based | Weighted Average | Measurement Input, Quoted Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable, held for sale, measurement input	0.99

FAIR VALUE MEASUREMENT OF ASS_8

FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes receivable	$ 479	$ 441
Long-term debt (including current portion) in the form of fixed rate notes	10,500	10,300
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes receivable	406	396
Long-term debt (including current portion) in the form of fixed rate notes	$ 9,500	$ 9,500

DERIVATIVE INSTRUMENTS - Additi

DERIVATIVE INSTRUMENTS - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Maximum maturity of foreign currency exchange contracts			12 months
Net derivative gains related to cash flow hedges to be reclassified into earnings within the next 12 months	$ 86,000,000		$ 86,000,000
Net investment hedge CTA gains (losses), reclassifications	0	$ 0	0	$ 0
Derivative asset, offset	29,000,000		29,000,000		$ 70,000,000
Derivative liability, offset	$ 29,000,000		$ 29,000,000		$ 70,000,000

DERIVATIVE INSTRUMENTS - Schedu

DERIVATIVE INSTRUMENTS - Schedule of Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Other current assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Other assets (non-current)
Derivatives, Fair Value [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Deferred tax liability and other long-term liabilities	Deferred tax liability and other long-term liabilities
Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative assets	$ 301	$ 244
Derivative liabilities	56	298
Foreign Exchange Contract | Designated as Hedging Instrument | Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	105	167
Foreign Exchange Contract | Designated as Hedging Instrument | Other assets (non-current)
Derivatives, Fair Value [Line Items]
Derivative assets	94	15
Foreign Exchange Contract | Designated as Hedging Instrument | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	19	68
Foreign Exchange Contract | Designated as Hedging Instrument | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	0	133
Foreign Exchange Contract | Not Designated as Hedging Instrument | Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	102	62
Foreign Exchange Contract | Not Designated as Hedging Instrument | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ 37	$ 97

DERIVATIVE INSTRUMENTS - Offset

DERIVATIVE INSTRUMENTS - Offsetting Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Other current assets
Offsetting Liabilities [Line Items]
Cash collateral posted	$ 16	$ 24
Other current liabilities
Offsetting Liabilities [Line Items]
Cash collateral received	$ 138	$ 203

DERIVATIVE INSTRUMENTS - Locati

DERIVATIVE INSTRUMENTS - Location in the Condensed Consolidated Statements of Income and Amount of Recognized Gains or Losses Related to Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded (net revenues)	$ 7,418	$ 6,846	$ 21,745	$ 20,135
Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded (other income (expense), net)	73	460	318	(337)
Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	$ 7	$ 156	$ 117	$ 310
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded (other income (expense), net)	Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded (other income (expense), net)	Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded (other income (expense), net)	Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded (other income (expense), net)
Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	$ 74	$ (95)	$ (23)	$ 39
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded (other income (expense), net)	Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded (other income (expense), net)	Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded (other income (expense), net)	Total amounts presented in the condensed consolidated statements of income (loss) in which the effects of cash flow hedges and net investment hedges are recorded (other income (expense), net)
Foreign Exchange Contract | Designated as Hedging Instrument | Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gains on foreign currency exchange contracts reclassified from AOCI	$ 7	$ 156	$ 117	$ 310
Foreign Exchange Contract | Designated as Hedging Instrument | Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gains on foreign currency exchange contracts reclassified from AOCI	0	0	0	0
Foreign Exchange Contract | Not Designated as Hedging Instrument | Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	0	0	0	0
Foreign Exchange Contract | Not Designated as Hedging Instrument | Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	54	52	(102)	160
Foreign Exchange Contract | Net Investment Hedging | Designated as Hedging Instrument | Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gains on foreign currency exchange contracts excluded from the assessment of effectiveness	0	0	0	0
Foreign Exchange Contract | Net Investment Hedging | Designated as Hedging Instrument | Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gains on foreign currency exchange contracts excluded from the assessment of effectiveness	20	27	79	53
Equity Contract | Not Designated as Hedging Instrument | Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	0	0	0	0
Equity Contract | Not Designated as Hedging Instrument | Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Total gains (losses)	$ 0	$ (174)	$ 0	$ (174)

DERIVATIVE INSTRUMENTS - Pre-ta

DERIVATIVE INSTRUMENTS - Pre-tax Unrealized Gains or Losses Included in the Assessment of Hedge Effectiveness Related To Derivative Instruments Designated as Hedging Instruments That Are Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gains on foreign exchange contracts designated as net investment hedges	$ 35	$ 169	$ 27	$ 97	$ 135	$ 21	$ 231	$ 253
Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gains on foreign exchange contracts designated as cash flow hedges	116			294			92	658
Unrealized gains on foreign exchange contracts designated as net investment hedges	35			97			231	253
Total unrealized gains recognized from derivative contracts designated as hedging instruments in the condensed consolidated statements of comprehensive income (loss)	$ 151			$ 391			$ 323	$ 911

DERIVATIVE INSTRUMENTS - Notion

DERIVATIVE INSTRUMENTS - Notional Amounts of Outstanding Derivatives (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Notional amounts	$ 15,723	$ 18,989
Foreign Exchange Contract | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amounts	6,336	7,149
Foreign Exchange Contract | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amounts	$ 9,387	$ 11,840

LOANS AND INTEREST RECEIVABLE -

LOANS AND INTEREST RECEIVABLE - Loans and Interest Receivable, Held For Sale (Details) - Consumer Receivables $ in Millions, € in Billions	1 Months Ended	9 Months Ended
	Jun. 30, 2023 EUR (€)	Sep. 30, 2023 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Maximum eligible consumer installment receivables to be sold subject to agreement	€ 40	$ 1,200
Transaction And Credit Losses
Financing Receivable, Allowance for Credit Loss [Line Items]
Reversal of allowance due to reclassification of loans and interest receivable to held for sale		$ 33

LOANS AND INTEREST RECEIVABLE_2

LOANS AND INTEREST RECEIVABLE - Loans and Interest Receivable, Held For Sale, Reclassifications (Details) $ in Millions, € in Billions	1 Months Ended	9 Months Ended
	Jun. 30, 2023 EUR (€)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and interest receivable, held for sale		$ 2,165	$ 0
Consumer Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Adjustments due to reversal of allowance related to loans and interest receivable	€ 40	$ 1,200

LOANS AND INTEREST RECEIVABLE_3

LOANS AND INTEREST RECEIVABLE - Consumer Receivable (Details) - Consumer Receivables - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer receivables purchased	$ 643	$ 106
Loans and interest receivable	4,218		$ 5,872
Participation interest sold, value	$ 22		$ 17
Threshold period, write-off of receivables	180 days
Threshold period, write-off of bankrupt accounts	60 days
Geographic Distribution, Domestic
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period, write-off of receivables	120 days

LOANS AND INTEREST RECEIVABLE_4

LOANS AND INTEREST RECEIVABLE - Schedule of Delinquency Status of Consumer Loans and Interest Receivable by Year of Origination (Details) - Consumer Receivables - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, Revolving Loans Amortized Cost Basis	$ 2,072		$ 1,922
Loans, advances, and interest and fees receivable, originated current fiscal year	1,698		3,819
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	435		131
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	13		0
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, Total	$ 4,218		$ 5,872
Loans, advances, and interest and fees receivable, Percent	100%		100%
Financing Receivable, Allowance For Credit Loss, Write Off, By Origination Year [Abstract]
Gross charge-offs, Revolving Loans Amortized Cost Basis	$ 95
Gross charge-offs, originated current fiscal year	43
Gross charge-offs, originated fiscal year before current fiscal year	129
Gross charge-offs, originated two years before current fiscal year	5
Gross charge-offs, originated three years before current fiscal year	0
Gross charge-offs, originated four years before current fiscal year	0
Total Gross charge-offs	272	$ 171
Other Consumer Credit Products
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, Total			$ 11
Current
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, Revolving Loans Amortized Cost Basis	1,993		1,850
Loans, advances, and interest and fees receivable, originated current fiscal year	1,609		3,726
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	412		123
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	11		0
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, Total	$ 4,025		$ 5,699
Loans, advances, and interest and fees receivable, Percent	95.40%		97.10%
30 - 59 Days
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, Revolving Loans Amortized Cost Basis	$ 26		$ 23
Loans, advances, and interest and fees receivable, originated current fiscal year	30		26
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	6		2
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	1		0
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, Total	$ 63		$ 51
Loans, advances, and interest and fees receivable, Percent	1.50%		0.90%
60 - 89 Days
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, Revolving Loans Amortized Cost Basis	$ 18		$ 15
Loans, advances, and interest and fees receivable, originated current fiscal year	22		20
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	6		2
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, Total	$ 46		$ 37
Loans, advances, and interest and fees receivable, Percent	1.10%		0.60%
90 - 179 Days
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, Revolving Loans Amortized Cost Basis	$ 35		$ 34
Loans, advances, and interest and fees receivable, originated current fiscal year	37		47
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	11		4
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	1		0
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, Total	$ 84		$ 85
Loans, advances, and interest and fees receivable, Percent	2%		1.40%

LOANS AND INTEREST RECEIVABLE_5

LOANS AND INTEREST RECEIVABLE - Schedule of Allowance for Consumer Loans and Interest Receivable (Details) - Consumer Loans Receivable - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Allowance for loans and interest receivable
Beginning balance	$ 347	$ 286
Reversal of allowance due to reclassification of loans and interest receivable to held for sale	(33)	0
Provisions	291	207
Charge-offs	(272)	(171)
Recoveries	29	14
Other	(5)	(47)
Ending balance	357	289
Consumer Loans Receivable
Allowance for loans and interest receivable
Beginning balance	322	243
Reversal of allowance due to reclassification of loans and interest receivable to held for sale	(33)	0
Provisions	271	198
Charge-offs	(250)	(149)
Recoveries	29	14
Other	(5)	(41)
Ending balance	334	265
Interest Receivable
Allowance for loans and interest receivable
Beginning balance	25	43
Reversal of allowance due to reclassification of loans and interest receivable to held for sale	0	0
Provisions	20	9
Charge-offs	(22)	(22)
Recoveries	0	0
Other	0	(6)
Ending balance	$ 23	24
Other Consumer Credit Products
Allowance for loans and interest receivable
Ending balance		$ 2

LOANS AND INTEREST RECEIVABLE_6

LOANS AND INTEREST RECEIVABLE - Merchant Receivables (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Merchant Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Merchant receivables purchased	$ 1,300	$ 2,300
Loans and interest receivable	1,403		$ 2,146
Participation interest sold, value	$ 55		97
Threshold period, write-off of bankrupt accounts	60 days
Merchant Receivables | PayPal Working Capital Products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Period pas expected period of repayment	180 days
Threshold period, write-off of receivables, nonpayment	60 days
Threshold period two, write-off of receivables	360 days
Merchant Receivables | PayPal Working Capital Products | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Required percentage of original loan payments every 90 days	10%
Expected period of repayment	9 months
Merchant Receivables | PayPal Working Capital Products | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Expected period of repayment	12 months
Merchant Receivables | PayPal Business Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period, write-off of receivables	180 days
Merchant Receivables | PayPal Business Loans | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Expected period of repayment	3 months
Merchant Receivables | PayPal Business Loans | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Expected period of repayment	12 months
Consumer Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Merchant receivables purchased	$ 643	$ 106
Loans and interest receivable	$ 4,218		$ 5,872
Threshold period, write-off of receivables	180 days
Threshold period, write-off of bankrupt accounts	60 days

LOANS AND INTEREST RECEIVABLE_7

LOANS AND INTEREST RECEIVABLE - Schedule of Delinquency Status of Merchant Loans, Advances, and Interest and Fees Receivable by Year of Origination (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Merchant Receivables
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, originated current fiscal year	$ 1,060		$ 1,979
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	271		42
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	11		69
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	35		54
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	26		2
Loans, advances, and interest and fees receivable, Total	$ 1,403		$ 2,146
Loans, advances, and interest and fees receivable, Percent	100%		100%
Financing Receivable, Allowance For Credit Loss, Write Off, By Origination Year [Abstract]
Gross charge-offs, originated current fiscal year	$ 12
Gross charge-offs, originated fiscal year before current fiscal year	185
Gross charge-offs, originated two years before current fiscal year	13
Gross charge-offs, originated three years before current fiscal year	14
Gross charge-offs, originated four years before current fiscal year	4
Gross charge-offs, originated four years before current fiscal year	228	$ 81
Consumer Receivables
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, originated current fiscal year	1,698		$ 3,819
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	435		131
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	13		0
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, Total	$ 4,218		$ 5,872
Loans, advances, and interest and fees receivable, Percent	100%		100%
Financing Receivable, Allowance For Credit Loss, Write Off, By Origination Year [Abstract]
Gross charge-offs, originated current fiscal year	$ 43
Gross charge-offs, originated fiscal year before current fiscal year	129
Gross charge-offs, originated two years before current fiscal year	5
Gross charge-offs, originated three years before current fiscal year	0
Gross charge-offs, originated four years before current fiscal year	0
Gross charge-offs, originated four years before current fiscal year	272	$ 171
Current | Merchant Receivables
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, originated current fiscal year	988		$ 1,826
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	173		20
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	5		57
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	30		42
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	20		2
Loans, advances, and interest and fees receivable, Total	$ 1,216		$ 1,947
Loans, advances, and interest and fees receivable, Percent	86.70%		90.70%
Current | Consumer Receivables
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, originated current fiscal year	$ 1,609		$ 3,726
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	412		123
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	11		0
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, Total	$ 4,025		$ 5,699
Loans, advances, and interest and fees receivable, Percent	95.40%		97.10%
30 - 59 Days | Merchant Receivables
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, originated current fiscal year	$ 30		$ 63
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	24		7
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	2		3
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	1		4
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	3		0
Loans, advances, and interest and fees receivable, Total	$ 60		$ 77
Loans, advances, and interest and fees receivable, Percent	4.30%		3.60%
30 - 59 Days | Consumer Receivables
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, originated current fiscal year	$ 30		$ 26
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	6		2
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	1		0
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, Total	$ 63		$ 51
Loans, advances, and interest and fees receivable, Percent	1.50%		0.90%
60 - 89 Days | Merchant Receivables
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, originated current fiscal year	$ 15		$ 34
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	17		4
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	0		4
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	1		2
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	1		0
Loans, advances, and interest and fees receivable, Total	$ 34		$ 44
Loans, advances, and interest and fees receivable, Percent	2.40%		2%
60 - 89 Days | Consumer Receivables
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, originated current fiscal year	$ 22		$ 20
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	6		2
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, Total	$ 46		$ 37
Loans, advances, and interest and fees receivable, Percent	1.10%		0.60%
90 - 179 Days | Merchant Receivables
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, originated current fiscal year	$ 27		$ 55
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	53		9
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	2		3
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	2		3
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	1		0
Loans, advances, and interest and fees receivable, Total	$ 85		$ 70
Loans, advances, and interest and fees receivable, Percent	6.10%		3.30%
90 - 179 Days | Consumer Receivables
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, originated current fiscal year	$ 37		$ 47
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	11		4
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	1		0
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	0		0
Loans, advances, and interest and fees receivable, Total	$ 84		$ 85
Loans, advances, and interest and fees receivable, Percent	2%		1.40%
180+ Days | Merchant Receivables
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans, advances, and interest and fees receivable, originated current fiscal year	$ 0		$ 1
Loans, advances, and interest and fees receivable, originated fiscal year before current fiscal year	4		2
Loans, advances, and interest and fees receivable, originated two years before current fiscal year	2		2
Loans, advances, and interest and fees receivable, originated three years before current fiscal year	1		3
Loans, advances, and interest and fees receivable, originated four years before current fiscal year	1		0
Loans, advances, and interest and fees receivable, Total	$ 8		$ 8
Loans, advances, and interest and fees receivable, Percent	0.50%		0.40%

LOANS AND INTEREST RECEIVABLE_8

LOANS AND INTEREST RECEIVABLE - Schedule of Allowance for Merchant Loans, Advances, and Interest and Fees Receivable (Details) - Merchant Loans and Advances - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Allowance for loans and interest receivable
Beginning balance	$ 248	$ 201
Provisions	159	40
Charge-offs	(228)	(81)
Recoveries	19	27
Ending balance	198	187
Merchant Loans and Advances
Allowance for loans and interest receivable
Beginning balance	230	192
Provisions	135	31
Charge-offs	(204)	(75)
Recoveries	19	27
Ending balance	180	175
Interest and Fees Receivable
Allowance for loans and interest receivable
Beginning balance	18	9
Provisions	24	9
Charge-offs	(24)	(6)
Recoveries	0	0
Ending balance	$ 18	$ 12

LOANS AND INTEREST RECEIVABLE_9

LOANS AND INTEREST RECEIVABLE - Modified Merchant Receivables, Loans, Notes Receivable, and Others (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Merchant loans, advances, and interest and fees receivables:
Amortized cost basis	$ 37	$ 107
Financing receivable, modified in period, to total financing receivables, percentage	3%	8%
Financing receivable, modified, weighted average term increase from modification	25 years	24 years

LOANS AND INTEREST RECEIVABL_10

LOANS AND INTEREST RECEIVABLE - Performance of Merchant Receivables, Loans, Notes Receivable, and Others (Details) $ in Millions	Sep. 30, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Merchant loans, advances, interest, and fees receivables	$ 107
Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Merchant loans, advances, interest, and fees receivables	86
30 - 59 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Merchant loans, advances, interest, and fees receivables	7
60 - 89 Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Merchant loans, advances, interest, and fees receivables	4
90 - 179 days past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Merchant loans, advances, interest, and fees receivables	$ 10

LOANS AND INTEREST RECEIVABL_11

LOANS AND INTEREST RECEIVABLE - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Threshold period past due	60 days

DEBT - Fixed Rate Notes (Detail

DEBT - Fixed Rate Notes (Details)	1 Months Ended				3 Months Ended		9 Months Ended
	Jun. 30, 2023 JPY (¥)	May 31, 2022 USD ($)	May 31, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)
Debt Instrument [Line Items]
Outstanding aggregate principal amount					$ 10,603,000,000		$ 10,603,000,000
Senior Notes | Notes
Debt Instrument [Line Items]
Outstanding aggregate principal amount					10,603,000,000		10,603,000,000		$ 10,418,000,000
Interest expense and fees					84,000,000	$ 83,000,000	250,000,000	$ 206,000,000
Senior Notes | Fixed-Rate Notes Issued June 2023
Debt Instrument [Line Items]
Face amount	¥ 90,000,000,000				$ 603,000,000		$ 603,000,000
Redemption price (in percent)	101%
Senior Notes | Fixed-Rate Notes Issued May 2022
Debt Instrument [Line Items]
Face amount		$ 3,000,000,000
Redemption price (in percent)		101%
Senior Notes | Fixed-rate Notes Issued May 2020
Debt Instrument [Line Items]
Face amount			$ 4,000,000,000
Redemption price (in percent)			101%
Senior Notes | Fixed-rate Notes Issued September 2019
Debt Instrument [Line Items]
Face amount				$ 5,000,000,000
Redemption price (in percent)				101%
Senior Notes | Fixed-Rate Notes Issued September 2019 and May 2020
Debt Instrument [Line Items]
Outstanding notes repurchased and redeemed										$ 1,600,000,000

DEBT - Schedule of Outstanding

DEBT - Schedule of Outstanding Aggregate Principal Amount Related to the Notes (Details)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 JPY (¥)	Jun. 30, 2023 JPY (¥)	Dec. 31, 2022 USD ($)	May 31, 2022 USD ($)	May 31, 2020 USD ($)	Sep. 30, 2019 USD ($)
Debt Instrument [Line Items]
Outstanding aggregate principal amount	$ 10,603,000,000
Total carrying amount of term debt	10,640,000,000			$ 10,417,000,000
Senior Notes
Debt Instrument [Line Items]
Unamortized premium (discount) and issuance costs, net	(71,000,000)			(74,000,000)
Less: current portion of long-term debt	0			(418,000,000)
Total carrying amount of term debt	10,532,000,000			9,926,000,000
Senior Notes | Notes
Debt Instrument [Line Items]
Outstanding aggregate principal amount	$ 10,603,000,000			10,418,000,000
Senior Notes | Fixed-rate Notes Issued September 2019
Debt Instrument [Line Items]
Face amount							$ 5,000,000,000
Senior Notes | Fixed-rate 2.400% notes
Debt Instrument [Line Items]
Interest rate	2.40%	2.40%
Effective Interest Rate	2.52%	2.52%
Outstanding aggregate principal amount	$ 1,250,000,000			1,250,000,000
Senior Notes | Fixed-rate 2.650% notes
Debt Instrument [Line Items]
Interest rate	2.65%	2.65%
Effective Interest Rate	2.78%	2.78%
Outstanding aggregate principal amount	$ 1,250,000,000			1,250,000,000
Senior Notes | Fixed-rate 2.850% notes
Debt Instrument [Line Items]
Interest rate	2.85%	2.85%
Effective Interest Rate	2.96%	2.96%
Outstanding aggregate principal amount	$ 1,500,000,000			1,500,000,000
Senior Notes | Fixed-rate Notes Issued May 2020
Debt Instrument [Line Items]
Face amount						$ 4,000,000,000
Senior Notes | Fixed-rate 1.350% notes
Debt Instrument [Line Items]
Interest rate	1.35%	1.35%
Effective Interest Rate	1.55%	1.55%
Outstanding aggregate principal amount	$ 0			418,000,000
Senior Notes | Fixed-rate 1.650% notes
Debt Instrument [Line Items]
Interest rate	1.65%	1.65%
Effective Interest Rate	1.78%	1.78%
Outstanding aggregate principal amount	$ 1,000,000,000			1,000,000,000
Senior Notes | Fixed-rate 2.300% notes
Debt Instrument [Line Items]
Interest rate	2.30%	2.30%
Effective Interest Rate	2.39%	2.39%
Outstanding aggregate principal amount	$ 1,000,000,000			1,000,000,000
Senior Notes | Fixed-rate 3.250% notes
Debt Instrument [Line Items]
Interest rate	3.25%	3.25%
Effective Interest Rate	3.33%	3.33%
Outstanding aggregate principal amount	$ 1,000,000,000			1,000,000,000
Senior Notes | Fixed-Rate Notes Issued May 2022
Debt Instrument [Line Items]
Face amount					$ 3,000,000,000
Senior Notes | Fixed-rate 3.900% notes
Debt Instrument [Line Items]
Interest rate	3.90%	3.90%
Effective Interest Rate	4.06%	4.06%
Outstanding aggregate principal amount	$ 500,000,000			500,000,000
Senior Notes | Fixed-rate 4.400% notes
Debt Instrument [Line Items]
Interest rate	4.40%	4.40%
Effective Interest Rate	4.53%	4.53%
Outstanding aggregate principal amount	$ 1,000,000,000			1,000,000,000
Senior Notes | Fixed-rate 5.050% notes
Debt Instrument [Line Items]
Interest rate	5.05%	5.05%
Effective Interest Rate	5.14%	5.14%
Outstanding aggregate principal amount	$ 1,000,000,000			1,000,000,000
Senior Notes | Fixed-rate 5.250% notes
Debt Instrument [Line Items]
Interest rate	5.25%	5.25%
Effective Interest Rate	5.34%	5.34%
Outstanding aggregate principal amount	$ 500,000,000			500,000,000
Senior Notes | Fixed-Rate Notes Issued June 2023
Debt Instrument [Line Items]
Face amount	$ 603,000,000		¥ 90,000,000,000
Senior Notes | ¥30 billion fixed-rate 0.813% notes
Debt Instrument [Line Items]
Face amount | ¥		¥ 30,000,000,000
Interest rate	0.813%	0.813%
Effective Interest Rate	0.89%	0.89%
Outstanding aggregate principal amount	$ 201,000,000			0
Senior Notes | ¥23 billion fixed-rate 0.972% notes
Debt Instrument [Line Items]
Face amount | ¥		¥ 23,000,000,000
Interest rate	0.972%	0.972%
Effective Interest Rate	1.06%	1.06%
Outstanding aggregate principal amount	$ 154,000,000			0
Senior Notes | ¥37 billion fixed-rate 1.240% notes
Debt Instrument [Line Items]
Face amount | ¥		¥ 37,000,000,000
Interest rate	1.24%	1.24%
Effective Interest Rate	1.31%	1.31%
Outstanding aggregate principal amount	$ 248,000,000			$ 0

DEBT - Five-Year Revolving Cred

DEBT - Five-Year Revolving Credit Facility (Details) - Credit Agreement - Unsecured Debt - USD ($)	1 Months Ended
	Jun. 30, 2023	Sep. 30, 2023
Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility, term (in years)	5 years
Maximum borrowing capacity	$ 5,000,000,000
Increase limit	$ 2,000,000,000
Borrowings outstanding		$ 0
Remaining borrowing capacity		$ 5,000,000,000
Revolving Credit Facility | Minimum | Term Benchmark Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%
Revolving Credit Facility | Minimum | Risk-Free Rate, Sterling Overnight Index Average And Euro Short-Term Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%
Revolving Credit Facility | Minimum | Overnight Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%
Revolving Credit Facility | Minimum | Prime Rate, The Federal Funds Effective Rate Or Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	0%
Revolving Credit Facility | Maximum | Term Benchmark Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%
Revolving Credit Facility | Maximum | Risk-Free Rate, Sterling Overnight Index Average And Euro Short-Term Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%
Revolving Credit Facility | Maximum | Overnight Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%
Revolving Credit Facility | Maximum | Prime Rate, The Federal Funds Effective Rate Or Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.25%
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 150,000,000
Bridge Loan
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 600,000,000

DEBT - Paidy Revolving Credit F

DEBT - Paidy Revolving Credit Facility (Details) - Revolving Credit Facility - Paidy Credit Agreement - Unsecured Debt $ in Millions	1 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2022 JPY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 JPY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 JPY (¥)	Sep. 30, 2023 JPY (¥)	Feb. 28, 2022 JPY (¥)
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 603				¥ 90,000,000,000	¥ 60,000,000,000
Increase to the borrowing capacity	¥ 30,000,000,000
Remaining borrowing capacity		495				¥ 74,000,000,000
Proceeds from additional drew down on credit facility		$ 108	¥ 16,000,000,000	$ 491	¥ 64,300,000,000

DEBT - Future Principal Payment

DEBT - Future Principal Payments (Details) $ in Millions	Sep. 30, 2023 USD ($)
Future Principal Payments
Remaining 2023	$ 0
2024	1,250
2025	1,201
2026	1,404
2027	500
Thereafter	6,248
Total carrying amount of term debt	$ 10,603

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) $ in Millions	Jul. 07, 2023 action	Jun. 29, 2023 action	Sep. 30, 2023 USD ($)	Apr. 04, 2023 action	Jan. 11, 2023 action	Dec. 31, 2022 USD ($)	Dec. 20, 2022 action	Nov. 02, 2022 action
Other Commitments [Line Items]
Unused credit available to accountholders | $			$ 5,700			$ 4,900
Allowance for transaction losses | $			67			66
Allowance for negative customer balances | $			$ 230			$ 212
Pending Litigation | Unfavorable Regulatory Action | In re PayPal Holdings, Inc. Securities Litigation
Other Commitments [Line Items]
Number of related putative shareholder derivative actions					1
Pending Litigation | Unfavorable Regulatory Action | Shah v. Daniel Schulman, et al.
Other Commitments [Line Items]
Number of related putative shareholder derivative actions								1
Pending Litigation | Unfavorable Regulatory Action | Nelson v. Daniel Schulman, et al.
Other Commitments [Line Items]
Number of related putative shareholder derivative actions				1
Pending Litigation | Unfavorable Regulatory Action | State of Hawai‘i, v. PayPal, Inc.
Other Commitments [Line Items]
Number of related putative shareholder derivative actions							1
Settled Litigation | Unfavorable Regulatory Action | Pang v. Daniel Schulman, et al.
Other Commitments [Line Items]
Number of claims settled and dismissed		1
Settled Litigation | Unfavorable Regulatory Action | Lalor v. Daniel Schulman, et al.
Other Commitments [Line Items]
Number of claims settled and dismissed		1
Settled Litigation | Unfavorable Regulatory Action | Kang v. PayPal Holdings, Inc., et al.
Other Commitments [Line Items]
Number of claims settled and dismissed		1
Settled Litigation | Unfavorable Regulatory Action | Jefferson v. Daniel Schulman, et al.
Other Commitments [Line Items]
Number of claims settled and dismissed	1

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Schedule of Allowance for Transaction Losses And Negative Customer Balances (Details) - Protection Programs - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Loss Contingency Accrual
Beginning balance	$ 346	$ 378	$ 278	$ 355
Provision	329	254	915	956
Realized losses	(417)	(394)	(970)	(1,157)
Recoveries	39	50	74	134
Ending balance	$ 297	$ 288	$ 297	$ 288

STOCK REPURCHASE PROGRAMS (Deta

STOCK REPURCHASE PROGRAMS (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Equity, Class of Treasury Stock [Line Items]
Cash paid for shares repurchased	$ 4,395	$ 3,189
Inflation Reduction Act, excise tax	$ 39
July 2019 and June 2022 Stock Repurchase Programs
Equity, Class of Treasury Stock [Line Items]
Repurchases of shares of common stock, shares repurchased (in shares)	64
Cash paid for shares repurchased	$ 4,400
Average cost per share, excluding excise tax (in dollars per share)	$ 69.06
June 2022 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Remaining amount authorized for future repurchase of common stock	$ 11,500

STOCK-BASED PLANS - Additional

STOCK-BASED PLANS - Additional Information (Details) - shares	1 Months Ended
	Jun. 30, 2023	May 31, 2023
Equity Incentive Award Plan 2015
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Additional shares authorized (in shares)		34,600,000
Inducement Plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Additional shares authorized (in shares)	2,600,000

STOCK-BASED PLANS - Schedule of

STOCK-BASED PLANS - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 394	$ 239	$ 1,127	$ 1,007
Capitalized stock-based compensation expense	14	12	38	40
Customer support and operations
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	79	56	227	196
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	44	27	132	114
Technology and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	156	115	453	380
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 115	$ 41	$ 315	$ 317

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate, percentage	18%	16%	21%	34%

RESTRUCTURING AND OTHER CHARG_3

RESTRUCTURING AND OTHER CHARGES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 3	$ 23	$ 120	$ 114
Asset impairment charges	15	$ 29	58	$ 64
Gain (loss) on sale of loans, held for sale	$ 15		49
Owned Property
Restructuring Cost and Reserve [Line Items]
Gain (loss) on sale of properties			17
Owned Property | Held-For-Sale
Restructuring Cost and Reserve [Line Items]
Gain (loss) upon designation of property as held for sale			$ 12

RESTRUCTURING AND OTHER CHARG_4

RESTRUCTURING AND OTHER CHARGES - Restructuring Reserve Activity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Reserve
Accrued liability, beginning of period			$ 24
Charges	$ 3	$ 23	120	$ 114
Payments			(136)
Accrued liability, end of period	$ 8		$ 8

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Consumer Receivables € in Billions, $ in Billions	1 Months Ended		9 Months Ended
	Oct. 31, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Sep. 30, 2023 USD ($)
Subsequent Event [Line Items]
Maximum eligible consumer installment receivables to be sold subject to agreement		€ 40	$ 1.2
Subsequent Event
Subsequent Event [Line Items]
Financing receivable, sale	$ 1.4