PayPal Holdings, Inc. (PYPL) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Net revenues	25,371	21,454	17,772	15,451	13,094	14,188	9,248	8,025
Net revenues growth	18.3%	20.7%	15.0%	18.0%	-7.7%	53.4%	15.2%	19.3%
Operating expenses:
Transaction expense	10,315	7,934	6,790	5,581	4,419	3,346	2,610	2,170
Transaction and credit losses	1,060	1,741	1,380	1,274
Customer support and operations	2,075	1,778	1,615	1,407	1,265	1,267	1,110	991
Sales and marketing	2,445	1,861	1,401	1,314	1,142	969	937	954
Technology and development	3,038	2,642	2,085	1,831	1,740	834	792	747
General and administrative	2,114	2,070	1,711	1,541	1,258	1,028	873	733
Restructuring and other charges	62	139	71
Total operating expenses	21,109	18,165	15,053	13,257	10,967	9,256	7,787	6,757
Operating income	4,262	3,289	2,719	2,194	2,127	1,586	1,461	1,268
Operating margin	16.8%	15.3%	15.3%	14.2%	16.2%	11.2%	15.8%	15.8%
Other income (expense), net	-163	1,776	279	182	73	45	27	-7
Income before income taxes	4,099	5,065	2,998	2,376
Income tax expense (benefit)	-70	863	539	319	405	230	260	842
Net income (loss)	4,169	4,202	2,459	2,057	1,795	1,401	1,228	419

Net income (loss) per share:
Basic (in dollars per share)	$3.55	$3.58	$2.09	$1.74	$1.49	$1.16	$1.00	$0.34
Diluted (in dollars per share)	$3.52	$3.54	$2.07	$1.71	$1.47	$1.15	$1.00	$0.34

Weighted average shares:
Basic (in shares)	1,174	1,173	1,174	1,184	1,203	1,210	1,222	1,218
Diluted (in shares)	1,186	1,187	1,188	1,203	1,221	1,218	1,229	1,224