v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net income (loss) $ 352.9 $ 242.8 $ (494.1)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 194.6 199.6 202.7
Equity-based compensation 264.4 207.9 191.5
Gain on derivative instruments 27.6 6.3 7.0
Non-cash restructuring and other charges 10.4 15.1 29.0
Tax receivable agreements liability adjustment 0.0 0.0 674.7
Other 48.4 14.6 25.7
Changes in operating assets and liabilities, net of amounts acquired:      
Prepaid domain name registry fees (34.7) (37.8) (17.5)
Accounts payable 35.1 34.2 (20.5)
Accrued expenses and other current liabilities 11.3 40.9 22.3
Deferred revenue 101.6 190.7 215.6
Other operating assets and liabilities (31.9) (85.0) (71.8)
Net cash provided by operating activities 979.7 829.3 764.6
Investing activities      
Maturities of short-term investments 0.0 0.0 23.7
Business acquisitions, net of cash acquired (72.5) (367.7) (424.7)
Purchases of intangible assets (0.4) (202.1) (15.0)
Purchases of property and equipment (59.7) (51.1) (66.5)
Purchases of equity investments 0.0 (40.0) 0.0
Other investing activities, net 0.6 25.3 0.2
Net cash used in investing activities (132.0) (635.6) (482.3)
Proceeds received from:      
Issuance of term loans 1,725.3 0.0 746.3
Issuance of Senior Notes 0.0 800.0 0.0
Stock option exercises 19.9 42.7 77.7
Issuance of Class A common stock under employee stock purchase plan 30.1 30.7 29.6
Payments made for:      
Settlement of tax receivable agreements 0.0 (0.2) (849.8)
Repurchases of Class A common stock (1,294.6) (526.0) (541.7)
Repayment of term loans (1,789.9) (32.4) (28.7)
Financing-related costs (4.2) (9.6) (6.4)
Contingent consideration for business acquisitions (9.3) (4.7) (0.5)
Other financing obligations (4.0) (2.4) (8.2)
Net cash provided by (used in) financing activities (1,326.7) 298.1 (581.7)
Effect of exchange rate changes on cash and cash equivalents (2.7) (1.3) 1.8
Net increase (decrease) in cash and cash equivalents (481.7) 490.5 (297.6)
Cash and cash equivalents, beginning of period 1,255.7 765.2 1,062.8
Cash and cash equivalents, end of period 774.0 1,255.7 765.2
Cash paid during the period for:      
Interest on long-term debt, including impact of interest rate swaps 127.3 104.2 80.5
Income taxes, net of refunds received 11.2 19.1 16.2
Amounts included in the measurement of operating lease liabilities 50.0 54.4 53.0
Supplemental disclosure of non-cash transactions      
Operating lease assets obtained in exchange for operating lease obligations 14.9 14.8 21.0
Acquisition date fair value of contingent consideration 0.0 18.5 0.0
Accrued purchases of property and equipment at period end 12.4 1.2 3.0
Share repurchases not yet settled $ 5.8 $ 0.0 $ 0.0