10-Q 1 pypl-20220930.htm 10-Q pypl-20220930
000163391712/312022Q3FALSEP3YP1Yhttp://fasb.org/us-gaap/2022#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2022#OtherAssetsNoncurrenthttp://fasb.org/us-gaap/2022#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2022#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2022#DeferredTaxAndOtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2022#DeferredTaxAndOtherLiabilitiesNoncurrent11111100016339172022-01-012022-09-3000016339172022-10-28xbrli:shares00016339172022-09-30iso4217:USD00016339172021-12-31iso4217:USDxbrli:shares00016339172022-07-012022-09-3000016339172021-07-012021-09-3000016339172021-01-012021-09-300001633917us-gaap:CommonStockMember2021-12-310001633917us-gaap:TreasuryStockCommonMember2021-12-310001633917us-gaap:AdditionalPaidInCapitalMember2021-12-310001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001633917us-gaap:RetainedEarningsMember2021-12-310001633917us-gaap:RetainedEarningsMember2022-01-012022-03-3100016339172022-01-012022-03-310001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310001633917us-gaap:CommonStockMember2022-01-012022-03-310001633917us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310001633917us-gaap:TreasuryStockCommonMember2022-01-012022-03-310001633917us-gaap:CommonStockMember2022-03-310001633917us-gaap:TreasuryStockCommonMember2022-03-310001633917us-gaap:AdditionalPaidInCapitalMember2022-03-310001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310001633917us-gaap:RetainedEarningsMember2022-03-3100016339172022-03-310001633917us-gaap:RetainedEarningsMember2022-04-012022-06-3000016339172022-04-012022-06-300001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300001633917us-gaap:CommonStockMember2022-04-012022-06-300001633917us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-300001633917us-gaap:TreasuryStockCommonMember2022-04-012022-06-300001633917us-gaap:CommonStockMember2022-06-300001633917us-gaap:TreasuryStockCommonMember2022-06-300001633917us-gaap:AdditionalPaidInCapitalMember2022-06-300001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300001633917us-gaap:RetainedEarningsMember2022-06-3000016339172022-06-300001633917us-gaap:RetainedEarningsMember2022-07-012022-09-300001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300001633917us-gaap:CommonStockMember2022-07-012022-09-300001633917us-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-300001633917us-gaap:TreasuryStockCommonMember2022-07-012022-09-300001633917us-gaap:CommonStockMember2022-09-300001633917us-gaap:TreasuryStockCommonMember2022-09-300001633917us-gaap:AdditionalPaidInCapitalMember2022-09-300001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-300001633917us-gaap:RetainedEarningsMember2022-09-300001633917us-gaap:CommonStockMember2020-12-310001633917us-gaap:TreasuryStockCommonMember2020-12-310001633917us-gaap:AdditionalPaidInCapitalMember2020-12-310001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310001633917us-gaap:RetainedEarningsMember2020-12-310001633917us-gaap:NoncontrollingInterestMember2020-12-3100016339172020-12-310001633917us-gaap:RetainedEarningsMember2021-01-012021-03-3100016339172021-01-012021-03-310001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310001633917us-gaap:CommonStockMember2021-01-012021-03-310001633917us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-310001633917us-gaap:TreasuryStockCommonMember2021-01-012021-03-310001633917us-gaap:NoncontrollingInterestMember2021-01-012021-03-310001633917us-gaap:CommonStockMember2021-03-310001633917us-gaap:TreasuryStockCommonMember2021-03-310001633917us-gaap:AdditionalPaidInCapitalMember2021-03-310001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310001633917us-gaap:RetainedEarningsMember2021-03-310001633917us-gaap:NoncontrollingInterestMember2021-03-3100016339172021-03-310001633917us-gaap:RetainedEarningsMember2021-04-012021-06-3000016339172021-04-012021-06-300001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300001633917us-gaap:CommonStockMember2021-04-012021-06-300001633917us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300001633917us-gaap:TreasuryStockCommonMember2021-04-012021-06-300001633917us-gaap:CommonStockMember2021-06-300001633917us-gaap:TreasuryStockCommonMember2021-06-300001633917us-gaap:AdditionalPaidInCapitalMember2021-06-300001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300001633917us-gaap:RetainedEarningsMember2021-06-300001633917us-gaap:NoncontrollingInterestMember2021-06-3000016339172021-06-300001633917us-gaap:RetainedEarningsMember2021-07-012021-09-300001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300001633917us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300001633917us-gaap:CommonStockMember2021-07-012021-09-300001633917us-gaap:TreasuryStockCommonMember2021-07-012021-09-300001633917us-gaap:CommonStockMember2021-09-300001633917us-gaap:TreasuryStockCommonMember2021-09-300001633917us-gaap:AdditionalPaidInCapitalMember2021-09-300001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300001633917us-gaap:RetainedEarningsMember2021-09-300001633917us-gaap:NoncontrollingInterestMember2021-09-3000016339172021-09-300001633917us-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:ShortTermInvestmentsMember2021-09-300001633917pypl:FundsReceivableAndCustomerAccountsMember2022-09-300001633917pypl:FundsReceivableAndCustomerAccountsMember2021-09-30pypl:entity0001633917us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-12-310001633917us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2022-09-300001633917us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2021-12-310001633917srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2022-06-30pypl:segment0001633917country:US2022-07-012022-09-300001633917country:US2021-07-012021-09-300001633917country:US2022-01-012022-09-300001633917country:US2021-01-012021-09-300001633917country:GB2022-07-012022-09-300001633917country:GB2021-07-012021-09-300001633917country:GB2022-01-012022-09-300001633917country:GB2021-01-012021-09-300001633917pypl:CountriesOtherThanUSAndUnitedKingdomMember2022-07-012022-09-300001633917pypl:CountriesOtherThanUSAndUnitedKingdomMember2021-07-012021-09-300001633917pypl:CountriesOtherThanUSAndUnitedKingdomMember2022-01-012022-09-300001633917pypl:CountriesOtherThanUSAndUnitedKingdomMember2021-01-012021-09-300001633917pypl:TransactionRevenuesMember2022-07-012022-09-300001633917pypl:TransactionRevenuesMember2021-07-012021-09-300001633917pypl:TransactionRevenuesMember2022-01-012022-09-300001633917pypl:TransactionRevenuesMember2021-01-012021-09-300001633917pypl:RevenuesFromOtherValueAddedServicesMember2022-07-012022-09-300001633917pypl:RevenuesFromOtherValueAddedServicesMember2021-07-012021-09-300001633917pypl:RevenuesFromOtherValueAddedServicesMember2022-01-012022-09-300001633917pypl:RevenuesFromOtherValueAddedServicesMember2021-01-012021-09-300001633917pypl:InterestAndFeesEarnedOnLoansAndInterestReceivableAsWellAsHedgingGainsOrLossesAndInterestEarnedOnCertainAssetsUnderlyingCustomerBalancesMember2022-07-012022-09-300001633917pypl:InterestAndFeesEarnedOnLoansAndInterestReceivableAsWellAsHedgingGainsOrLossesAndInterestEarnedOnCertainAssetsUnderlyingCustomerBalancesMember2021-07-012021-09-300001633917pypl:InterestAndFeesEarnedOnLoansAndInterestReceivableAsWellAsHedgingGainsOrLossesAndInterestEarnedOnCertainAssetsUnderlyingCustomerBalancesMember2022-01-012022-09-300001633917pypl:InterestAndFeesEarnedOnLoansAndInterestReceivableAsWellAsHedgingGainsOrLossesAndInterestEarnedOnCertainAssetsUnderlyingCustomerBalancesMember2021-01-012021-09-30pypl:business0001633917pypl:PaidyIncMember2021-10-012021-10-310001633917pypl:PaidyIncMember2021-10-310001633917pypl:PaidyIncMemberus-gaap:CustomerRelatedIntangibleAssetsMember2021-10-310001633917us-gaap:MarketingRelatedIntangibleAssetsMemberpypl:PaidyIncMember2021-10-310001633917us-gaap:DevelopedTechnologyRightsMemberpypl:PaidyIncMember2021-10-310001633917srt:MinimumMemberpypl:PaidyIncMember2021-10-012021-10-310001633917srt:MaximumMemberpypl:PaidyIncMember2021-10-012021-10-310001633917us-gaap:SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember2021-01-012021-12-310001633917us-gaap:SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember2021-12-310001633917us-gaap:SeriesOfIndividuallyImmaterialBusinessAcquisitionsMembersrt:MinimumMember2021-01-012021-12-310001633917srt:MaximumMemberus-gaap:SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember2021-01-012021-12-310001633917pypl:CompaniesAcquiredInFiscalYear2021Member2021-01-012021-12-310001633917us-gaap:NonoperatingIncomeExpenseMemberpypl:CompaniesAcquiredInFiscalYear2021Member2021-01-012021-12-310001633917us-gaap:CustomerRelatedIntangibleAssetsMember2022-09-300001633917us-gaap:CustomerRelatedIntangibleAssetsMember2022-01-012022-09-300001633917us-gaap:CustomerRelatedIntangibleAssetsMember2021-12-310001633917us-gaap:CustomerRelatedIntangibleAssetsMember2021-01-012021-12-310001633917us-gaap:MarketingRelatedIntangibleAssetsMember2022-09-300001633917us-gaap:MarketingRelatedIntangibleAssetsMember2022-01-012022-09-300001633917us-gaap:MarketingRelatedIntangibleAssetsMember2021-12-310001633917us-gaap:MarketingRelatedIntangibleAssetsMember2021-01-012021-12-310001633917us-gaap:DevelopedTechnologyRightsMember2022-09-300001633917us-gaap:DevelopedTechnologyRightsMember2022-01-012022-09-300001633917us-gaap:DevelopedTechnologyRightsMember2021-12-310001633917us-gaap:DevelopedTechnologyRightsMember2021-01-012021-12-310001633917us-gaap:OtherIntangibleAssetsMember2022-09-300001633917us-gaap:OtherIntangibleAssetsMember2022-01-012022-09-300001633917us-gaap:OtherIntangibleAssetsMember2021-12-310001633917us-gaap:OtherIntangibleAssetsMember2021-01-012021-12-31xbrli:pure0001633917us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberpypl:BitcoinMember2022-09-300001633917pypl:BitcoinMemberpypl:AccruedExpensesAndOtherCurrentLiabilitiesMember2022-09-300001633917us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberpypl:EthereumMember2022-09-300001633917pypl:EthereumMemberpypl:AccruedExpensesAndOtherCurrentLiabilitiesMember2022-09-300001633917srt-supplement:CryptoAssetOtherMemberpypl:AccruedExpensesAndOtherCurrentLiabilitiesMember2022-09-300001633917us-gaap:PrepaidExpensesAndOtherCurrentAssetsMembersrt-supplement:CryptoAssetOtherMember2022-09-300001633917pypl:AccruedExpensesAndOtherCurrentLiabilitiesMember2022-09-300001633917us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2022-09-300001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-06-300001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-06-300001633917us-gaap:AccumulatedTranslationAdjustmentMember2022-06-300001633917pypl:NetInvestmentHedgeCurrencyTranslationGainLossMember2022-06-300001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-07-012022-09-300001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-07-012022-09-300001633917us-gaap:AccumulatedTranslationAdjustmentMember2022-07-012022-09-300001633917pypl:NetInvestmentHedgeCurrencyTranslationGainLossMember2022-07-012022-09-300001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-09-300001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-09-300001633917us-gaap:AccumulatedTranslationAdjustmentMember2022-09-300001633917pypl:NetInvestmentHedgeCurrencyTranslationGainLossMember2022-09-300001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-06-300001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-06-300001633917us-gaap:AccumulatedTranslationAdjustmentMember2021-06-300001633917pypl:NetInvestmentHedgeCurrencyTranslationGainLossMember2021-06-300001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-07-012021-09-300001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-07-012021-09-300001633917us-gaap:AccumulatedTranslationAdjustmentMember2021-07-012021-09-300001633917pypl:NetInvestmentHedgeCurrencyTranslationGainLossMember2021-07-012021-09-300001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-09-300001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-09-300001633917us-gaap:AccumulatedTranslationAdjustmentMember2021-09-300001633917pypl:NetInvestmentHedgeCurrencyTranslationGainLossMember2021-09-300001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-12-310001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-12-310001633917us-gaap:AccumulatedTranslationAdjustmentMember2021-12-310001633917pypl:NetInvestmentHedgeCurrencyTranslationGainLossMember2021-12-310001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-09-300001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-01-012022-09-300001633917us-gaap:AccumulatedTranslationAdjustmentMember2022-01-012022-09-300001633917pypl:NetInvestmentHedgeCurrencyTranslationGainLossMember2022-01-012022-09-300001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-12-310001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-12-310001633917us-gaap:AccumulatedTranslationAdjustmentMember2020-12-310001633917pypl:NetInvestmentHedgeCurrencyTranslationGainLossMember2020-12-310001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-09-300001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-01-012021-09-300001633917us-gaap:AccumulatedTranslationAdjustmentMember2021-01-012021-09-300001633917pypl:NetInvestmentHedgeCurrencyTranslationGainLossMember2021-01-012021-09-300001633917us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300001633917us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300001633917us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300001633917us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300001633917us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300001633917us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300001633917us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300001633917us-gaap:CashAndCashEquivalentsMember2022-09-300001633917us-gaap:CashAndCashEquivalentsMember2021-12-310001633917us-gaap:BankTimeDepositsMember2022-09-300001633917us-gaap:BankTimeDepositsMember2021-12-310001633917us-gaap:DebtSecuritiesMember2022-09-300001633917us-gaap:DebtSecuritiesMember2021-12-310001633917pypl:FundsReceivableMember2022-09-300001633917pypl:FundsReceivableMember2021-12-310001633917us-gaap:USGovernmentAgenciesDebtSecuritiesMemberpypl:FundsReceivableAndCustomerAccountsMember2022-09-300001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberpypl:FundsReceivableAndCustomerAccountsMember2022-09-300001633917us-gaap:CorporateDebtSecuritiesMemberpypl:FundsReceivableAndCustomerAccountsMember2022-09-300001633917us-gaap:AssetBackedSecuritiesMemberpypl:FundsReceivableAndCustomerAccountsMember2022-09-300001633917us-gaap:MunicipalBondsMemberpypl:FundsReceivableAndCustomerAccountsMember2022-09-300001633917us-gaap:CommercialPaperMemberpypl:FundsReceivableAndCustomerAccountsMember2022-09-300001633917us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:ShortTermInvestmentsMemberus-gaap:CorporateDebtSecuritiesMember2022-09-300001633917us-gaap:AssetBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:CommercialPaperMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:USGovernmentAgenciesDebtSecuritiesMemberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:CorporateDebtSecuritiesMemberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:AssetBackedSecuritiesMemberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:USGovernmentAgenciesDebtSecuritiesMemberpypl:FundsReceivableAndCustomerAccountsMember2021-12-310001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberpypl:FundsReceivableAndCustomerAccountsMember2021-12-310001633917us-gaap:CorporateDebtSecuritiesMemberpypl:FundsReceivableAndCustomerAccountsMember2021-12-310001633917us-gaap:AssetBackedSecuritiesMemberpypl:FundsReceivableAndCustomerAccountsMember2021-12-310001633917us-gaap:MunicipalBondsMemberpypl:FundsReceivableAndCustomerAccountsMember2021-12-310001633917us-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:ShortTermInvestmentsMember2021-12-310001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:ShortTermInvestmentsMember2021-12-310001633917us-gaap:ShortTermInvestmentsMemberus-gaap:CorporateDebtSecuritiesMember2021-12-310001633917us-gaap:AssetBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMember2021-12-310001633917us-gaap:USGovernmentAgenciesDebtSecuritiesMemberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:CorporateDebtSecuritiesMemberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:AssetBackedSecuritiesMemberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:CorporateDebtSecuritiesMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:CorporateDebtSecuritiesMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CashAndCashEquivalentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CashAndCashEquivalentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2022-09-300001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2022-09-300001633917us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001633917us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberpypl:LongTermInvestmentsMember2022-09-300001633917pypl:MarketableEquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberpypl:LongTermInvestmentsMember2022-09-300001633917pypl:MarketableEquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:FairValueInputsLevel2Memberpypl:MarketableEquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberpypl:LongTermInvestmentsMember2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberpypl:LongTermInvestmentsMember2022-09-300001633917pypl:CashTimeDepositsAndFundsReceivableMember2022-09-300001633917us-gaap:FairValueMeasurementsRecurringMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:ShortTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:ShortTermInvestmentsMember2021-12-310001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2021-12-310001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:CorporateDebtSecuritiesMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:CorporateDebtSecuritiesMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:ShortTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel1Member2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CashAndCashEquivalentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CashAndCashEquivalentsMemberus-gaap:FairValueInputsLevel1Member2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CashAndCashEquivalentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-12-310001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Member2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMemberus-gaap:FairValueInputsLevel1Member2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMemberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateDebtSecuritiesMemberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberpypl:LongTermInvestmentsMember2021-12-310001633917pypl:MarketableEquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberpypl:LongTermInvestmentsMember2021-12-310001633917pypl:MarketableEquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueInputsLevel2Memberpypl:MarketableEquitySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Memberpypl:LongTermInvestmentsMember2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberpypl:LongTermInvestmentsMember2021-12-310001633917pypl:CashTimeDepositsAndFundsReceivableMember2021-12-310001633917srt:MinimumMember2022-01-012022-09-300001633917srt:MaximumMember2022-01-012022-09-300001633917srt:MaximumMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2022-01-012022-09-300001633917pypl:FundsReceivableAndCustomerAccountsMemberpypl:FairValueOptionInvestmentsMember2022-09-300001633917pypl:FundsReceivableAndCustomerAccountsMemberpypl:FairValueOptionInvestmentsMember2021-12-310001633917us-gaap:ShortTermInvestmentsMemberpypl:FairValueOptionInvestmentsMember2022-09-300001633917us-gaap:ShortTermInvestmentsMemberpypl:FairValueOptionInvestmentsMember2021-12-310001633917pypl:FundsReceivableAndCustomerAccountsMemberpypl:FairValueOptionInvestmentsMember2022-07-012022-09-300001633917pypl:FundsReceivableAndCustomerAccountsMemberpypl:FairValueOptionInvestmentsMember2021-07-012021-09-300001633917pypl:FundsReceivableAndCustomerAccountsMemberpypl:FairValueOptionInvestmentsMember2022-01-012022-09-300001633917pypl:FundsReceivableAndCustomerAccountsMemberpypl:FairValueOptionInvestmentsMember2021-01-012021-09-300001633917us-gaap:ShortTermInvestmentsMemberpypl:FairValueOptionInvestmentsMember2022-07-012022-09-300001633917us-gaap:ShortTermInvestmentsMemberpypl:FairValueOptionInvestmentsMember2021-07-012021-09-300001633917us-gaap:ShortTermInvestmentsMemberpypl:FairValueOptionInvestmentsMember2022-01-012022-09-300001633917us-gaap:ShortTermInvestmentsMemberpypl:FairValueOptionInvestmentsMember2021-01-012021-09-300001633917us-gaap:FairValueMeasurementsNonrecurringMember2022-09-300001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2022-09-300001633917us-gaap:FairValueMeasurementsNonrecurringMember2021-12-310001633917us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-12-310001633917us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-300001633917us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-300001633917us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310001633917us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310001633917us-gaap:OtherCurrentAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2022-09-300001633917us-gaap:OtherCurrentAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2021-12-310001633917us-gaap:OtherNoncurrentAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2022-09-300001633917us-gaap:OtherNoncurrentAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2021-12-310001633917us-gaap:OtherCurrentAssetsMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-09-300001633917us-gaap:OtherCurrentAssetsMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-12-310001633917us-gaap:ForeignExchangeContractMember2022-09-300001633917us-gaap:ForeignExchangeContractMember2021-12-310001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:OtherCurrentLiabilitiesMember2022-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:OtherCurrentLiabilitiesMember2021-12-310001633917us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:OtherCurrentLiabilitiesMember2022-09-300001633917us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:OtherCurrentLiabilitiesMember2021-12-310001633917us-gaap:OtherCurrentAssetsMember2022-09-300001633917us-gaap:OtherCurrentAssetsMember2021-12-310001633917us-gaap:OtherCurrentLiabilitiesMember2022-09-300001633917us-gaap:OtherCurrentLiabilitiesMember2021-12-310001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SalesMemberus-gaap:ForeignExchangeContractMember2022-07-012022-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SalesMemberus-gaap:ForeignExchangeContractMember2021-07-012021-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SalesMemberus-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMember2022-07-012022-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:NonoperatingIncomeExpenseMemberus-gaap:NetInvestmentHedgingMember2022-07-012022-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SalesMemberus-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMember2021-07-012021-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:NonoperatingIncomeExpenseMemberus-gaap:NetInvestmentHedgingMember2021-07-012021-09-300001633917us-gaap:SalesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-07-012022-09-300001633917us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:NonoperatingIncomeExpenseMember2022-07-012022-09-300001633917us-gaap:SalesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-07-012021-09-300001633917us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:NonoperatingIncomeExpenseMember2021-07-012021-09-300001633917us-gaap:SalesMemberus-gaap:NondesignatedMemberus-gaap:EquityContractMember2022-07-012022-09-300001633917us-gaap:NondesignatedMemberus-gaap:EquityContractMemberus-gaap:NonoperatingIncomeExpenseMember2022-07-012022-09-300001633917us-gaap:SalesMemberus-gaap:NondesignatedMemberus-gaap:EquityContractMember2021-07-012021-09-300001633917us-gaap:NondesignatedMemberus-gaap:EquityContractMemberus-gaap:NonoperatingIncomeExpenseMember2021-07-012021-09-300001633917us-gaap:SalesMember2022-07-012022-09-300001633917us-gaap:NonoperatingIncomeExpenseMember2022-07-012022-09-300001633917us-gaap:SalesMember2021-07-012021-09-300001633917us-gaap:NonoperatingIncomeExpenseMember2021-07-012021-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SalesMemberus-gaap:ForeignExchangeContractMember2022-01-012022-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SalesMemberus-gaap:ForeignExchangeContractMember2021-01-012021-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SalesMemberus-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMember2022-01-012022-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:NonoperatingIncomeExpenseMemberus-gaap:NetInvestmentHedgingMember2022-01-012022-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SalesMemberus-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMember2021-01-012021-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:NonoperatingIncomeExpenseMemberus-gaap:NetInvestmentHedgingMember2021-01-012021-09-300001633917us-gaap:SalesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-01-012022-09-300001633917us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:NonoperatingIncomeExpenseMember2022-01-012022-09-300001633917us-gaap:SalesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-01-012021-09-300001633917us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:NonoperatingIncomeExpenseMember2021-01-012021-09-300001633917us-gaap:SalesMemberus-gaap:NondesignatedMemberus-gaap:EquityContractMember2022-01-012022-09-300001633917us-gaap:NondesignatedMemberus-gaap:EquityContractMemberus-gaap:NonoperatingIncomeExpenseMember2022-01-012022-09-300001633917us-gaap:SalesMemberus-gaap:NondesignatedMemberus-gaap:EquityContractMember2021-01-012021-09-300001633917us-gaap:NondesignatedMemberus-gaap:EquityContractMemberus-gaap:NonoperatingIncomeExpenseMember2021-01-012021-09-300001633917us-gaap:SalesMember2022-01-012022-09-300001633917us-gaap:NonoperatingIncomeExpenseMember2022-01-012022-09-300001633917us-gaap:SalesMember2021-01-012021-09-300001633917us-gaap:NonoperatingIncomeExpenseMember2021-01-012021-09-300001633917us-gaap:ForeignExchangeContractMember2022-07-012022-09-300001633917us-gaap:ForeignExchangeContractMember2021-07-012021-09-300001633917us-gaap:ForeignExchangeContractMember2022-01-012022-09-300001633917us-gaap:ForeignExchangeContractMember2021-01-012021-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2022-09-300001633917us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2021-12-310001633917us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-09-300001633917us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-12-310001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:LoansReceivableMember2022-01-012022-09-300001633917us-gaap:ConsumerPortfolioSegmentMember2022-09-300001633917us-gaap:ConsumerPortfolioSegmentMember2021-12-310001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-09-300001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-09-300001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300001633917us-gaap:ConsumerPortfolioSegmentMemberpypl:FinancialAsset90To179DaysPastDueMember2022-09-300001633917us-gaap:ConsumerPortfolioSegmentMemberpypl:OtherConsumerCreditProductsMember2022-09-300001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310001633917us-gaap:ConsumerPortfolioSegmentMemberpypl:FinancialAsset90To179DaysPastDueMember2021-12-310001633917us-gaap:ConsumerPortfolioSegmentMemberpypl:OtherConsumerCreditProductsMember2021-12-310001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:LoansReceivableMember2021-12-310001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinanceReceivablesMember2021-12-310001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:LoansReceivableMember2020-12-310001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinanceReceivablesMember2020-12-310001633917us-gaap:ConsumerPortfolioSegmentMember2020-12-310001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinanceReceivablesMember2022-01-012022-09-300001633917us-gaap:ConsumerPortfolioSegmentMember2022-01-012022-09-300001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:LoansReceivableMember2021-01-012021-09-300001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinanceReceivablesMember2021-01-012021-09-300001633917us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-09-300001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:LoansReceivableMember2022-09-300001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinanceReceivablesMember2022-09-300001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:LoansReceivableMember2021-09-300001633917us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinanceReceivablesMember2021-09-300001633917us-gaap:ConsumerPortfolioSegmentMember2021-09-300001633917us-gaap:ConsumerPortfolioSegmentMemberpypl:OtherConsumerCreditProductsMember2021-09-300001633917us-gaap:CommercialPortfolioSegmentMember2022-09-300001633917us-gaap:CommercialPortfolioSegmentMember2021-12-310001633917srt:MinimumMemberus-gaap:CommercialPortfolioSegmentMemberpypl:PayPalWorkingCapitalProductsMember2022-01-012022-09-300001633917srt:MaximumMemberus-gaap:CommercialPortfolioSegmentMemberpypl:PayPalWorkingCapitalProductsMember2022-01-012022-09-300001633917srt:MinimumMemberus-gaap:CommercialPortfolioSegmentMemberpypl:PayPalBusinessLoansMember2022-01-012022-09-300001633917srt:MaximumMemberus-gaap:CommercialPortfolioSegmentMemberpypl:PayPalBusinessLoansMember2022-01-012022-09-300001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-09-300001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2022-09-300001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2022-09-300001633917us-gaap:CommercialPortfolioSegmentMemberpypl:FinancialAsset90To179DaysPastDueMember2022-09-300001633917us-gaap:CommercialPortfolioSegmentMemberpypl:FinancialAssetEqualToOrGreaterThan180DaysPastDueMember2022-09-300001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-12-310001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-12-310001633917us-gaap:CommercialPortfolioSegmentMemberpypl:FinancialAsset90To179DaysPastDueMember2021-12-310001633917us-gaap:CommercialPortfolioSegmentMemberpypl:FinancialAssetEqualToOrGreaterThan180DaysPastDueMember2021-12-310001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:LoansReceivableMember2021-12-310001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinanceReceivablesMember2021-12-310001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:LoansReceivableMember2020-12-310001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinanceReceivablesMember2020-12-310001633917us-gaap:CommercialPortfolioSegmentMember2020-12-310001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:LoansReceivableMember2022-01-012022-09-300001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinanceReceivablesMember2022-01-012022-09-300001633917us-gaap:CommercialPortfolioSegmentMember2022-01-012022-09-300001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:LoansReceivableMember2021-01-012021-09-300001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinanceReceivablesMember2021-01-012021-09-300001633917us-gaap:CommercialPortfolioSegmentMember2021-01-012021-09-300001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:LoansReceivableMember2022-09-300001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinanceReceivablesMember2022-09-300001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:LoansReceivableMember2021-09-300001633917us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinanceReceivablesMember2021-09-300001633917us-gaap:CommercialPortfolioSegmentMember2021-09-300001633917us-gaap:CommercialPortfolioSegmentMemberpypl:PayPalBusinessLoansMember2022-09-300001633917us-gaap:CommercialPortfolioSegmentMemberpypl:PayPalWorkingCapitalProductsMember2022-01-012022-09-300001633917us-gaap:CommercialPortfolioSegmentMember2021-07-012021-09-300001633917us-gaap:SeniorNotesMemberpypl:FixedRateNotesIssuedMay2022Member2022-05-310001633917us-gaap:SeniorNotesMemberpypl:FixedRateNotesIssuedMay2022Member2022-05-012022-05-310001633917us-gaap:SeniorNotesMemberpypl:FixedRateNotesIssuedMay2020Member2020-05-310001633917pypl:FixedRateNotesIssuedSeptember2019Memberus-gaap:SeniorNotesMember2019-09-300001633917us-gaap:SeniorNotesMemberpypl:FixedRateNotesIssuedSeptember2019AndMay2020Member2022-06-300001633917us-gaap:SeniorNotesMemberpypl:NotesMember2022-09-300001633917us-gaap:SeniorNotesMemberpypl:NotesMember2021-12-310001633917us-gaap:SeniorNotesMemberpypl:FixedRate2200NotesMember2022-09-300001633917us-gaap:SeniorNotesMemberpypl:FixedRate2200NotesMember2021-12-310001633917us-gaap:SeniorNotesMemberpypl:FixedRate2400NotesMember2022-09-300001633917us-gaap:SeniorNotesMemberpypl:FixedRate2400NotesMember2021-12-310001633917us-gaap:SeniorNotesMemberpypl:FixedRate2650NotesMember2022-09-300001633917us-gaap:SeniorNotesMemberpypl:FixedRate2650NotesMember2021-12-310001633917us-gaap:SeniorNotesMemberpypl:FixedRate2850NotesMember2022-09-300001633917us-gaap:SeniorNotesMemberpypl:FixedRate2850NotesMember2021-12-310001633917us-gaap:SeniorNotesMemberpypl:FixedRate1350NotesMember2022-09-300001633917us-gaap:SeniorNotesMemberpypl:FixedRate1350NotesMember2021-12-310001633917us-gaap:SeniorNotesMemberpypl:FixedRate1650NotesMember2022-09-300001633917us-gaap:SeniorNotesMemberpypl:FixedRate1650NotesMember2021-12-310001633917us-gaap:SeniorNotesMemberpypl:FixedRate2300NotesMember2022-09-300001633917us-gaap:SeniorNotesMemberpypl:FixedRate2300NotesMember2021-12-310001633917us-gaap:SeniorNotesMemberpypl:FixedRate3250NotesMember2022-09-300001633917us-gaap:SeniorNotesMemberpypl:FixedRate3250NotesMember2021-12-310001633917us-gaap:SeniorNotesMemberpypl:FixedRateNotesIssuedMay2022Member2022-05-230001633917us-gaap:SeniorNotesMemberpypl:FixedRate3900NotesMember2022-09-300001633917us-gaap:SeniorNotesMemberpypl:FixedRate3900NotesMember2021-12-310001633917us-gaap:SeniorNotesMemberpypl:FixedRate4400NotesMember2022-09-300001633917us-gaap:SeniorNotesMemberpypl:FixedRate4400NotesMember2021-12-310001633917pypl:FixedRate5050NoteMemberus-gaap:SeniorNotesMember2022-09-300001633917pypl:FixedRate5050NoteMemberus-gaap:SeniorNotesMember2021-12-310001633917us-gaap:SeniorNotesMemberpypl:FixedRate5250NotesMember2022-09-300001633917us-gaap:SeniorNotesMemberpypl:FixedRate5250NotesMember2021-12-310001633917us-gaap:SeniorNotesMember2022-09-300001633917us-gaap:SeniorNotesMember2021-12-310001633917us-gaap:SeniorNotesMemberpypl:NotesMember2022-07-012022-09-300001633917us-gaap:SeniorNotesMemberpypl:NotesMember2022-01-012022-09-300001633917us-gaap:SeniorNotesMemberpypl:NotesMember2021-07-012021-09-300001633917us-gaap:SeniorNotesMemberpypl:NotesMember2021-01-012021-09-300001633917pypl:PaidyCreditAgreementMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2022-02-28iso4217:JPY0001633917pypl:PaidyCreditAgreementMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2022-09-012022-09-300001633917pypl:PaidyCreditAgreementMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2022-09-300001633917srt:MinimumMemberpypl:TokyoInterbankOfferedRateMemberpypl:PaidyCreditAgreementMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2022-02-012022-02-280001633917srt:MaximumMemberpypl:TokyoInterbankOfferedRateMemberpypl:PaidyCreditAgreementMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2022-02-012022-02-280001633917pypl:PaidyCreditAgreementMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2022-01-012022-09-300001633917us-gaap:RevolvingCreditFacilityMemberus-gaap:SecuredDebtMemberpypl:PriorCreditAgreementMember2021-10-310001633917us-gaap:RevolvingCreditFacilityMemberus-gaap:SecuredDebtMemberpypl:PriorCreditAgreementMember2021-12-310001633917pypl:ProtectionProgramsMember2022-06-300001633917pypl:ProtectionProgramsMember2021-06-300001633917pypl:ProtectionProgramsMember2021-12-310001633917pypl:ProtectionProgramsMember2020-12-310001633917pypl:ProtectionProgramsMember2022-07-012022-09-300001633917pypl:ProtectionProgramsMember2021-07-012021-09-300001633917pypl:ProtectionProgramsMember2022-01-012022-09-300001633917pypl:ProtectionProgramsMember2021-01-012021-09-300001633917pypl:ProtectionProgramsMember2022-09-300001633917pypl:ProtectionProgramsMember2021-09-300001633917us-gaap:UnfavorableRegulatoryActionMemberpypl:PangVDanielSchulmanEtAlMemberus-gaap:PendingLitigationMember2021-12-16pypl:action0001633917us-gaap:UnfavorableRegulatoryActionMemberpypl:LalorVDanielSchulmanEtAlMemberus-gaap:PendingLitigationMember2022-01-190001633917us-gaap:UnfavorableRegulatoryActionMemberpypl:KangVPayPalHoldingsIncEtAlMemberus-gaap:PendingLitigationMember2021-08-200001633917us-gaap:UnfavorableRegulatoryActionMemberus-gaap:PendingLitigationMemberpypl:JeffersonVDanielSchulmanEtAlMember2022-08-020001633917us-gaap:UnfavorableRegulatoryActionMemberpypl:DefinedBenefitPlanOfTheMidJerseyTruckingIndustryAndTeamstersLocal701PensionAndAnnuityFundVPayPalHoldingsIncEtAlMemberus-gaap:SubsequentEventMemberus-gaap:PendingLitigationMember2022-10-040001633917us-gaap:UnfavorableRegulatoryActionMemberpypl:ShahVDanielSchulmanEtAlMemberus-gaap:SubsequentEventMemberus-gaap:PendingLitigationMember2022-11-020001633917pypl:June2022StockRepurchaseProgramMember2022-06-300001633917pypl:July2018StockRepurchaseProgramMember2022-09-300001633917pypl:June2022StockRepurchaseProgramMember2022-09-300001633917pypl:CustomerSupportAndOperationsMember2022-07-012022-09-300001633917pypl:CustomerSupportAndOperationsMember2021-07-012021-09-300001633917pypl:CustomerSupportAndOperationsMember2022-01-012022-09-300001633917pypl:CustomerSupportAndOperationsMember2021-01-012021-09-300001633917us-gaap:SellingAndMarketingExpenseMember2022-07-012022-09-300001633917us-gaap:SellingAndMarketingExpenseMember2021-07-012021-09-300001633917us-gaap:SellingAndMarketingExpenseMember2022-01-012022-09-300001633917us-gaap:SellingAndMarketingExpenseMember2021-01-012021-09-300001633917pypl:TechnologyAndDevelopmentExpenseMember2022-07-012022-09-300001633917pypl:TechnologyAndDevelopmentExpenseMember2021-07-012021-09-300001633917pypl:TechnologyAndDevelopmentExpenseMember2022-01-012022-09-300001633917pypl:TechnologyAndDevelopmentExpenseMember2021-01-012021-09-300001633917us-gaap:GeneralAndAdministrativeExpenseMember2022-07-012022-09-300001633917us-gaap:GeneralAndAdministrativeExpenseMember2021-07-012021-09-300001633917us-gaap:GeneralAndAdministrativeExpenseMember2022-01-012022-09-300001633917us-gaap:GeneralAndAdministrativeExpenseMember2021-01-012021-09-30


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2022.
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Transition Period from             to             .
Commission file number 001-36859
   
pypl-20220930_g1.jpg

PayPal Holdings, Inc.
(Exact Name of Registrant as Specified in Its Charter)
 
Delaware47-2989869
(State or Other Jurisdiction of
Incorporation or Organization)
(I.R.S. Employer
Identification No.)
2211 North First StreetSan Jose,California95131
(Address of Principal Executive Offices)(Zip Code)
(408) 967-1000
(Registrant’s telephone number, including area code)
  
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, $0.0001 par value per sharePYPLNASDAQ Global Select Market

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  



Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   
Yes No  
As of October 28, 2022, there were 1,140,027,732 shares of the registrant’s common stock, $0.0001 par value, outstanding, which is the only class of common or voting stock of the registrant issued.



PayPal Holdings, Inc.
TABLE OF CONTENTS
Page Number



PART I: FINANCIAL INFORMATION

ITEM 1: FINANCIAL STATEMENTS

PayPal Holdings, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
 September 30,
2022
December 31,
2021
 (In millions, except par value)
(Unaudited)
ASSETS
Current assets:  
Cash and cash equivalents$6,659 $5,197 
Short-term investments4,190 4,303 
Accounts receivable, net889 800 
Loans and interest receivable, net of allowances of $478 and $491 as of September 30, 2022 and December 31, 2021, respectively
6,002 4,846 
Funds receivable and customer accounts34,824 36,141 
Prepaid expenses and other current assets2,541 1,287 
Total current assets55,105 52,574 
Long-term investments5,215 6,797 
Property and equipment, net1,773 1,909 
Goodwill11,053 11,454 
Intangible assets, net855 1,332 
Other assets2,434 1,737 
Total assets$76,435 $75,803 
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable$114 $197 
Funds payable and amounts due to customers37,824 38,841 
Accrued expenses and other current liabilities4,638 3,755 
Income taxes payable652 236 
Total current liabilities43,228 43,029 
Deferred tax liability and other long-term liabilities2,702 2,998 
Long-term debt10,241 8,049 
Total liabilities56,171 54,076 
Commitments and contingencies (Note 13)
Equity:
Common stock, $0.0001 par value; 4,000 shares authorized; 1,147 and 1,168 shares outstanding as of September 30, 2022 and December 31, 2021, respectively
  
Preferred stock, $0.0001 par value; 100 shares authorized, unissued
  
Treasury stock at cost, 161 and 132 shares as of September 30, 2022 and December 31, 2021, respectively
(15,069)(11,880)
Additional paid-in-capital17,981 17,208 
Retained earnings18,033 16,535 
Accumulated other comprehensive income (loss)(681)(136)
Total equity20,264 21,727 
Total liabilities and equity$76,435 $75,803 

The accompanying notes are an integral part of these condensed consolidated financial statements.

pypl-20220930_g2.jpg
4


PayPal Holdings, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
 (In millions, except per share data)
(Unaudited)
Net revenues$6,846 $6,182 $20,135 $18,453 
Operating expenses:
Transaction expense 2,988 2,564 8,849 7,363 
Transaction and credit losses367 268 1,184 710 
Customer support and operations509 504 1,579 1,543 
Sales and marketing544 549 1,733 1,779 
Technology and development801 755 2,431 2,242 
General and administrative463 498 1,584 1,544 
Restructuring and other charges56 1 182 60 
Total operating expenses5,728 5,139 17,542 15,241 
Operating income1,118 1,043 2,593 3,212 
Other income (expense), net460 122 (337)181 
Income before income taxes1,578 1,165 2,256 3,393 
Income tax expense248 78 758 25 
Net income (loss)$1,330 $1,087 $1,498 $3,368 
Net income (loss) per share:
Basic$1.15 $0.93 $1.29 $2.87 
Diluted$1.15 $0.92 $1.29 $2.84 
Weighted average shares:
Basic1,154 1,174 1,159 1,174 
Diluted1,157 1,187 1,163 1,187 

The accompanying notes are an integral part of these condensed consolidated financial statements.


pypl-20220930_g2.jpg
5

PayPal Holdings, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Three Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
 (In millions)
(Unaudited)
Net income (loss)$1,330 $1,087 $1,498 $3,368 
Other comprehensive income (loss), net of reclassification adjustments:
Foreign currency translation adjustments (“CTA”)(206)(29)(601)(51)
Net investment hedges CTA gains, net97  253  
Tax expense on net investment hedges CTA gains, net(23) (59) 
Unrealized gains on cash flow hedges, net138 204 348 434 
Tax expense on unrealized gains on cash flow hedges, net(7)(7)(18)(10)
Unrealized losses on investments, net(157) (614)(17)
Tax benefit on unrealized losses on investments, net41  146 4 
Other comprehensive income (loss), net of tax(117)168 (545)360 
Comprehensive income (loss)$1,213 $1,255 $953 $3,728 

The accompanying notes are an integral part of these condensed consolidated financial statements.


pypl-20220930_g2.jpg
6

PayPal Holdings, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
Common Stock
Shares
Treasury StockAdditional Paid-In CapitalAccumulated Other
Comprehensive Income (Loss)
Retained EarningsTotal 
Equity
 (In millions)
(Unaudited)
Balances at December 31, 20211,168 $(11,880)$17,208 $(136)$16,535 $21,727 
Net income— — — — 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 losses on cash flow hedges, net— — — (3)— (3)
Unrealized losses on investments, net— — — (293)— (293)
Tax benefit on unrealized losses on investments, net— — — 67 — 67 
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes4 — (273)— — (273)
Common stock repurchased(11)(1,500)— — — (1,500)
Stock-based compensation— — 447 — — 447 
Other— — 1 — — 1 
Balances at March 31, 20221,161 $(13,380)$17,383 $(444)$17,044 $20,603 
Net loss— — — — (341)(341)
Foreign CTA— — — (300)— (300)
Net investment hedge CTA gains, net— — — 135 — 135 
Tax expense on net investment hedges CTA gains, net— — — (31)— (31)
Unrealized gains on cash flow hedges, net— — — 213 — 213 
Tax expense on unrealized gains on cash flow hedges, net— — — (11)— (11)
Unrealized losses on investments, net— — — (164)— (164)
Tax benefit on unrealized losses on investments, net— — — 38 — 38 
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes3 — 51 — — 51 
Common stock repurchased(8)(750)— — — (750)
Stock-based compensation— — 324 — — 324 
Balances at June 30, 20221,156 $(14,130)$17,758 $(564)$16,703 $19,767 
Net income— — — — 1,330 1,330 
Foreign CTA— — — (206)— (206)
Net investment hedge CTA gains, net— — — 97 — 97 
Tax expense on net investment hedges CTA gains, net— — — (23)— (23)
Unrealized gains on cash flow hedges, net— — — 138 — 138 
Tax expense on unrealized gains on cash flow hedges, net— — — (7)— (7)
Unrealized losses on investments, net— — — (157)— (157)
Tax benefit on unrealized losses on investments, net— — — 41 — 41 
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes1 — (14)— — (14)
Common stock repurchased(10)(939)— — — (939)
Stock-based compensation— — 237 — — 237 
Balances at September 30, 20221,147 $(15,069)$17,981 $(681)$18,033 $20,264 


pypl-20220930_g2.jpg
7

PayPal Holdings, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (continued)
Common Stock SharesTreasury StockAdditional Paid-In CapitalAccumulated Other
Comprehensive Income (Loss)
Retained EarningsNoncontrolling InterestTotal 
Equity
 (In millions)
(Unaudited)
Balances at December 31, 20201,172 $(8,507)$16,644 $(484)$12,366 $44 $20,063 
Net income— — — — 1,097 — 1,097 
Foreign CTA— — — (53)— — (53)
Unrealized gains on cash flow hedges, net— — — 198 — — 198 
Tax expense on unrealized gains on cash flow hedges, net— — — (3)— — (3)
Unrealized losses on investments, net— — — (15)— — (15)
Tax benefit on unrealized losses on investments, net— — — 4 — — 4 
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes7 — (870)— — — (870)
Common stock repurchased(5)(1,323)— — — — (1,323)
Stock-based compensation— — 387 — — — 387 
Change in noncontrolling interest— — — — — (44)(44)
Balances at March 31, 20211,174 $(9,830)$16,161 $(353)$13,463 $ $19,441 
Net income— — — — 1,184 — 1,184 
Foreign CTA— — — 31 — — 31 
Unrealized gains on cash flow hedges, net— — — 32 — — 32 
Unrealized losses on investments, net— — — (2)— — (2)
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes2 — 12 — — — 12 
Common stock repurchased(1)(200)— — — — (200)
Stock-based compensation— — 407 — — — 407 
Balances at June 30, 20211,175 $(10,030)$16,580 $(292)$14,647 $ $20,905 
Net income— — — — 1,087 1,087 
Foreign CTA— — — (29)— — (29)
Unrealized gains on cash flow hedges, net— — — 204 — — 204 
Tax expense on unrealized gains on cash flow hedges, net— — — (7)— — (7)
Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes— — (37)— — — (37)
Common stock repurchased(1)(350)— — — — (350)
Stock-based compensation— — 317 — — — 317 
Balances at September 30, 20211,174 $(10,380)$16,860 $(124)$15,734 $ $22,090 

The accompanying notes are an integral part of these condensed consolidated financial statements.

pypl-20220930_g2.jpg
8

PayPal Holdings, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
 Nine Months Ended September 30,
 20222021
 (In millions)
(Unaudited)
Cash flows from operating activities:
Net income$1,498 $3,368 
Adjustments to reconcile net income to net cash provided by operating activities:
Transaction and credit losses1,184 710 
Depreciation and amortization991 939 
Stock-based compensation967 1,058 
Deferred income taxes(538)(175)
Net (gains) losses on strategic investments163 (336)
Other 567 92 
Changes in assets and liabilities:
Accounts receivable(89)(155)
Accounts payable(55)(50)
Income taxes payable109 18 
Other assets and liabilities (141)(892)
Net cash provided by operating activities4,656 4,577 
Cash flows from investing activities:
Purchases of property and equipment(548)(695)
Proceeds from sales of property and equipment5 3 
Purchases and originations of loans receivable(19,167)(8,241)
Principal repayment of loans receivable17,164 7,598 
Purchases of investments(16,455)(30,905)
Maturities and sales of investments16,770 30,390 
Acquisitions, net of cash and restricted cash acquired (469)
Funds receivable(1,085)(37)
Other investing activities30  
Net cash used in investing activities(3,286)(2,356)
Cash flows from financing activities:
Proceeds from issuance of common stock86 90 
Purchases of treasury stock(3,189)(1,873)
Tax withholdings related to net share settlements of equity awards(321)(978)
Borrowings under financing arrangements3,346  
Repayments under financing arrangements(1,686) 
Funds payable and amounts due to customers(659)2,575 
Other financing activities1  
Net cash used in financing activities(2,422)(186)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (253)(106)
Net change in cash, cash equivalents, and restricted cash (1,305)