Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Revenues
Adjustments to Reported Income

Etsy Inc., adjusted current assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Current assets	1,341,501)	1,894,781)	921,038)	680,289)	439,264)
Adjustments
Add: Allowance for credit losses	7,730)	9,757)	5,033)	4,720)	2,687)
After Adjustment
Adjusted current assets	1,349,231)	1,904,538)	926,071)	685,009)	441,951)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Etsy Inc., adjusted total assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Total assets	3,831,809)	2,404,489)	1,542,352)	901,851)	605,583)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	24,019)	18,086)
Add: Allowance for credit losses	7,730)	9,757)	5,033)	4,720)	2,687)
Less: Deferred tax assets²	95,863)	115)	14,257)	23,464)	159)
After Adjustment
Adjusted total assets	3,743,676)	2,414,131)	1,533,128)	907,126)	626,197)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Deferred tax assets. See details »

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Etsy Inc., adjusted current liabilities

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Current liabilities	615,588)	454,664)	188,528)	112,062)	102,477)
Adjustments
Less: Current deferred revenue	12,339)	11,264)	7,617)	7,478)	6,262)
After Adjustment
Adjusted current liabilities	603,249)	443,400)	180,911)	104,584)	96,215)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Etsy Inc., adjusted total liabilities

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Total liabilities	3,203,190)	1,662,065)	1,135,718)	500,953)	208,689)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	24,019)	18,086)
Less: Deferred tax liabilities²	79,484)	58,481)	64,497)	30,455)	23,786)
Less: Deferred revenue	12,339)	11,264)	7,617)	7,478)	6,262)
After Adjustment
Adjusted total liabilities	3,111,367)	1,592,320)	1,063,604)	487,039)	196,727)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities. See details »

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Etsy Inc., adjusted stockholders’ equity

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Stockholders’ equity	628,619)	742,424)	406,634)	400,898)	396,894)
Adjustments
Less: Net deferred tax assets (liabilities)¹	16,379)	(58,366)	(50,240)	(6,991)	(23,627)
Add: Allowance for credit losses	7,730)	9,757)	5,033)	4,720)	2,687)
Add: Deferred revenue	12,339)	11,264)	7,617)	7,478)	6,262)
After Adjustment
Adjusted stockholders’ equity	632,309)	821,811)	469,524)	420,087)	429,470)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Net deferred tax assets (liabilities). See details »

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Etsy Inc., adjusted capitalization table

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Finance lease obligations, current	2,418)	8,537)	8,275)	3,884)	5,798)
Finance lease obligations, net of current portion	110,283)	44,979)	53,611)	2,095)	4,115)
Facility financing obligation	—)	—)	—)	59,991)	60,049)
Long-term debt, net	2,275,418)	1,062,299)	785,126)	276,486)	—)
Total reported debt	2,388,119)	1,115,815)	847,012)	342,456)	69,962)
Stockholders’ equity	628,619)	742,424)	406,634)	400,898)	396,894)
Total reported capital	3,016,738)	1,858,239)	1,253,646)	743,354)	466,856)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	24,019)	18,086)
Add: Operating lease obligations, current (included in Other current liabilities)²	4,018)	4,516)	4,134)	—)	—)
Add: Operating lease obligations, net of current portion (included in Other liabilities)³	43,746)	17,202)	22,322)	—)	—)
Adjusted total debt	2,435,883)	1,137,533)	873,468)	366,475)	88,048)
Adjustments to Equity
Less: Net deferred tax assets (liabilities)⁴	16,379)	(58,366)	(50,240)	(6,991)	(23,627)
Add: Allowance for credit losses	7,730)	9,757)	5,033)	4,720)	2,687)
Add: Deferred revenue	12,339)	11,264)	7,617)	7,478)	6,262)
Adjusted stockholders’ equity	632,309)	821,811)	469,524)	420,087)	429,470)
After Adjustment
Adjusted total capital	3,068,192)	1,959,344)	1,342,992)	786,562)	517,518)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Operating lease obligations, current (included in Other current liabilities). See details »

³ Operating lease obligations, net of current portion (included in Other liabilities). See details »

⁴ Net deferred tax assets (liabilities). See details »

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Etsy Inc., adjusted revenue

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Revenue	2,329,114)	1,725,625)	818,379)	603,693)	441,231)
Adjustment
Add: Increase (decrease) in deferred revenue	1,075)	3,647)	139)	1,216)	614)
After Adjustment
Adjusted revenue	2,330,189)	1,729,272)	818,518)	604,909)	441,845)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Etsy Inc., adjusted net income

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Net income	493,507)	349,246)	95,894)	77,491)	81,800)
Adjustments
Add: Deferred income tax expense (benefit)¹	(88,952)	2,201)	(12,686)	(23,144)	(43,693)
Add: Increase (decrease) in allowance for credit losses	(2,027)	4,724)	313)	2,033)	688)
Add: Increase (decrease) in deferred revenue	1,075)	3,647)	139)	1,216)	614)
Add: Other comprehensive income (loss)	(80,965)	14,650)	(886)	(1,434)	(24,851)
After Adjustment
Adjusted net income	322,638)	374,468)	82,774)	56,162)	14,558)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

¹ Deferred income tax expense (benefit). See details »

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Etsy Inc. (NASDAQ:ETSY)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Revenues

Adjustments to Reported Income