Impairment of investments

[Table of Contents](#id0d7a71b05ce452ea9fdb54f3cb359c7_7)eBay Inc.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)Note 16 — Gain (Loss) on Equity Investments and Warrant, Net and Interest and Other, Net  
The following table presents components of gain (loss) on equity investments and warrant, net for the periods indicated (in millions): 

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Year Ended December 31, |
|   | 2021 |    | 2020 |    | 2019 |
| Change in fair value of equity investment in Adevinta | $ | (3,070) |  |  | $ | —  |  |  | $ | —  |  |
| Gain (loss) on sale of shares in Adevinta (1) | 9  |  |  | —  |  |  | —  |  |
| Change in fair value of warrant | 354  |  |  | 770  |  |  | 133  |  |
| Change in fair value of equity investment in Adyen | (10) |  |  | —  |  |  | —  |  |
| Change in fair value of equity investment in KakaoBank | 403  |  |  | 239  |  |  | —  |  |
| Gain (loss) on sale of shares in KakaoBank | 83  |  |  | —  |  |  | —  |  |
| Impairment of equity investment in Paytm Mall | (160) |  |  | —  |  |  | —  |  |
|  |  |  |  |  |  |
| Gain (loss) on other investments (2) | 26  |  |  | (2) |  |  | —  |  |
| Total gain (loss) on equity investments and warrant, net | $ | (2,365) |  |    | $ | 1,007  |  |    | $ | 133  |  |

(1)Gain (loss) on sale of shares in Adevinta included an $88 million gain recognized on the sale of the shares offset by a $79 million loss from the change in fair value of the shares sold through the date of sale.(2)Gain (loss) on other investments primarily included: (i) in 2021, primarily a $41 million upward adjustment and a $10 million impairment recorded on equity investments without readily determinable fair values; (ii) in 2020, primarily a $40 million impairment recorded on an investment and a $37 million gain for the receipt of proceeds that were held in escrow related to a long-term investment that was sold in 2018.  
The following table presents components of interest and other, net for the periods indicated (in millions):

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Year Ended December 31, |
|   | 2021 |  | 2020 |  | 2019 |
| Interest income | $ | 19  |  |  | $ | 38  |  |  | $ | 112  |  |
| Interest expense | (269) |  |  | (304) |  |  | (311) |  |
| Foreign exchange and other | 90  |  |  | (32) |  |  | (52) |  |
| Total interest and other, net | $ | (160) |  |  | $ | (298) |  |  | $ | (251) |  |

  
  
  
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