EBAY INC. eBay Inc.
Unaudited Condensed Consolidated Statement of Cash Flows
(U.S. Dollars In Millions)
Three Months Ended | Year Ended | ||||||||||||||||
December 31, | |||||||||||||||||
Mar 31, | Dec 31, | Sep 30, | Jun 30, | Mar 31, | Dec 31, | 2020 | 2019 | ||||||||||
2021 | 2020 | 2020 | 2020 | 2020 | 2019 | ||||||||||||
Cash flows from operating activities: | |||||||||||||||||
Net income (loss) | $ | 641 | $ | 845 | $ | 664 | $ | 746 | $ | 3,412 | $ | 556 | $ | 5,667 | $ | 1,786 | |
Loss (income) from discontinued operations | (73) | (73) | (59) | (57) | (2,991) | (114) | (3,180) | (353) | |||||||||
Adjustments: | |||||||||||||||||
Provision for transaction losses | 88 | 85 | 60 | 89 | 96 | 69 | 330 | 262 | |||||||||
Depreciation and amortization | 134 | 131 | 157 | 161 | 134 | 147 | 583 | 600 | |||||||||
Stock-based compensation | 103 | 116 | 110 | 103 | 88 | 106 | 417 | 415 | |||||||||
(Gain) Loss on investments, net | (1) | (238) | (1) | 40 | (38) | (1) | (237) | - | |||||||||
(Gain) Loss on sale of business | - | - | - | - | - | - | - | 52 | |||||||||
Deferred income taxes | 103 | 237 | 71 | 47 | 59 | 33 | 414 | 7 | |||||||||
Change in fair value of warrant | 36 | (274) | (191) | (293) | (12) | (77) | (770) | (133) | |||||||||
(Gain) loss on extinguishment of debt | 10 | - | - | - | - | - | - | - | |||||||||
Changes in assets and liabilities, and other, net of acquisition effects | (93) | 1 | (165) | 115 | (171) | (82) | (220) | (220) | |||||||||
Net cash provided by continuing operating activities | 948 | 830 | 646 | 951 | 577 | 637 | 3,004 | 2,416 | |||||||||
Net cash provided by (used in) discontinued operating activities | 94 | (72) | (541) | 13 | 15 | 174 | (585) | 698 | |||||||||
Net cash provided by operating activities | 1,042 | 758 | 105 | 964 | 592 | 811 | 2,419 | 3,114 | |||||||||
Cash flows from investing activities: | |||||||||||||||||
Purchases of property and equipment | (83) | (155) | (124) | (97) | (87) | (122) | (463) | (508) | |||||||||
Purchases of investments | (3,424) | (3,990) | (7,224) | (10,968) | (10,705) | (9,576) | (32,887) | (46,966) | |||||||||
Maturities and sales of investments | 3,772 | 4,389 | 9,074 | 10,471 | 9,195 | 10,065 | 33,129 | 50,548 | |||||||||
Equity investment in Paytm Mall | - | - | - | - | - | - | - | (160) | |||||||||
Other | 2 | 3 | - | - | 39 | 5 | 42 | (14) | |||||||||
Net cash provided by (used in) continuing investing activities | 267 | 247 | 1,726 | (594) | (1,558) | 372 | (179) | 2,900 | |||||||||
Net cash provided by (used in) discontinued investing activities | (2) | (33) | (15) | (43) | 4,064 | (14) | 3,973 | (113) | |||||||||
Net cash provided by (used in) investing activities | 265 | 214 | 1,711 | (637) | 2,506 | 358 | 3,794 | 2,787 | |||||||||
Cash flows from financing activities: | |||||||||||||||||
Proceeds from issuance of common stock, net | - | 35 | 5 | 45 | 5 | 47 | 90 | 106 | |||||||||
Repurchases of common stock, net | (304) | (427) | (680) | (33) | (3,997) | (1,002) | (5,137) | (4,973) | |||||||||
Payments for taxes related to net share settlements of restricted stock units and awards | (20) | (44) | (48) | (43) | (40) | (40) | (175) | (202) | |||||||||
Proceeds from issuance of long-term debt | - | - | - | 771 | 994 | - | 1,765 | - | |||||||||
Payments for dividends | (122) | (110) | (111) | (112) | (114) | (113) | (447) | (473) | |||||||||
Repayment of debt | (1,156) | - | (932) | (839) | - | - | (1,771) | (1,550) | |||||||||
Net borrowings (repayments) under commercial paper program | 400 | - | - | - | - | - | - | - | |||||||||
Net funds receivable and payable activity | 97 | - | - | - | - | - | - | - | |||||||||
Other | 4 | - | (5) | 5 | (5) | - | (5) | 5 | |||||||||
Net cash provided by (used in) continuing financing activities | (1,101) | (546) | (1,771) | (206) | (3,157) | (1,108) | (5,680) | (7,087) | |||||||||
Net cash provided by (used in) discontinued financing activities | (68) | (3) | (2) | (3) | (4) | - | (12) | (4) | |||||||||
Net cash provided by (used in) financing activities | (1,169) | (549) | (1,773) | (209) | (3,161) | (1,108) | (5,692) | (7,091) | |||||||||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (11) | 52 | 51 | 8 | (34) | 26 | 77 | (33) | |||||||||
Net increase (decrease) in cash, cash equivalents and restricted cash | 127 | 475 | 94 | 126 | (97) | 87 | 598 | (1,223) | |||||||||
Cash, cash equivalents and restricted cash at beginning of period | 1,594 | 1,119 | 1,025 | 899 | 996 | 909 | 996 | 2,219 | |||||||||
Cash, cash equivalents and restricted cash at end of period | $ | 1,721 | $ | 1,594 | $ | 1,119 | $ | 1,025 | $ | 899 | $ | 996 | $ | 1,594 | $ | 996 | |
Less: Cash and cash equivalents of held for sale | 199 | 356 | 308 | 176 | 204 | 285 | 356 | 285 | |||||||||
Less: Cash and cash equivalents of discontinued operations | - | - | - | - | - | 52 | - | 52 | |||||||||
Cash, cash equivalents and restricted cash of continuing operations at end of period | $ | 1,522 | $ | 1,238 | $ | 811 | $ | 849 | $ | 695 | $ | 659 | $ | 1,238 | $ | 659 | |
eBay Inc.
Unaudited Reconciliation of Operating Cash Flows to Free Cash Flow
(U.S. Dollars In Millions)
Three Months Ended | Year Ended | ||||||||||||||||
December 31, | |||||||||||||||||
Mar 31, | Dec 31, | Sep 30, | Jun 30, | Mar 31, | Dec 31, | 2020 | 2019 | ||||||||||
2021 | 2020 | 2020 | 2020 | 2020 | 2019 | ||||||||||||
Supplemental non-GAAP measure: | |||||||||||||||||
Net cash provided by continuing operating activities | $ | 948 | $ | 830 | $ | 646 | $ | 951 | $ | 577 | $ | 637 | $ | 3,004 | $ | 2,416 | |
Less: Purchases of property and equipment, net | (83) | (155) | (124) | (97) | (87) | (122) | (463) | (508) | |||||||||
Free cash flow from continuing operations | $ | 865 | $ | 675 | $ | 522 | $ | 854 | $ | 490 | $ | 515 | $ | 2,541 | $ | 1,908 | |
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eBay Inc. published this content on 13 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2021 02:44:17 UTC.
