Transfers out from investments without readily determinable fair values

[Table of Contents](#id0d7a71b05ce452ea9fdb54f3cb359c7_7)eBay Inc.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)The following tables present summarized financial information of our equity investments accounted for under the equity method in the aggregate on a one-quarter lag. Financial information of certain of our equity method investments is prepared on the basis of local generally accepted accounting principles. We have made certain adjustments as applicable to address differences between local generally accepted accounting principles and US GAAP that materially impact the summarized financial information. Any other differences between US GAAP and local generally accepted accounting principles did not have any material impact on the summarized financial information of the equity method investments presented below in the aggregate.  
During the period in which we recognize an equity method investment, the summarized financial information reflects activity from the date of recognition. The tables below exclude the summarized financial information of our equity investment in Gmarket as the summarized financial information is presented on a one-quarter lag. The tables below also exclude the summarized financial information of our equity investment in Adevinta which is separately disclosed above under the heading “Equity investment in Adevinta.”   


|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Twelve months ended September 30, |
|  | 2021 |  | 2020 |  | 2019 |
|  | (In millions) |
| Revenue | $ | 41  |  |  | $ | 31  |  |  | $ | 30  |  |
| Gross profit | $ | 12  |  |  | $ | 10  |  |  | $ | 9  |  |
| Income (loss) from continuing operations | $ | 2  |  |  | $ | 3  |  |  | $ | 2  |  |
| Net income (loss) | $ | 2  |  |  | $ | 3  |  |  | $ | 2  |  |
| Net income (loss) attributable to the equity method investments | $ | 1  |  |  | $ | 1  |  |  | $ | 1  |  |



|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | September 30, |
|  | 2021 |  | 2020 |
|  | (In millions) |
| Current assets | $ | 76  |  |  | $ | 31  |  |
| Noncurrent assets | $ | 20  |  |  | $ | 21  |  |
| Current liabilities | $ | 26  |  |  | $ | 8  |  |
| Noncurrent liabilities | $ | 4  |  |  | $ | —  |  |
|  |  |  |  |
| Noncontrolling interests | $ | 6  |  |  | $ | 1  |  |

  
Equity investments without readily determinable fair values  
The following table summarizes the total carrying value related to equity investments without readily determinable fair values still held for the periods indicated (in millions):

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | Year Ended December 31, |
|  | 2021 |  | 2020 |
| Carrying value, beginning of period | $ | 539  |  |  | $ | 307  |  |
| Additions | 5  |  |  | 22  |  |
|  |  |  |  |
| Upward adjustments for observable price changes | 41  |  |  | 239  |  |
| Downward adjustments for observable price changes and impairment | (170) |  |  | (40) |  |
| Transfers out from investments without readily determinable fair values | (312) |  |  | —  |  |
| Foreign currency translation and other | (18) |  |  | 11  |  |
| Carrying value, end of period | $ | 85  |  |  | $ | 539  |  |

  
84
