v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income (loss) $ 10 $ (40)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 132 115
Share-based compensation 196 221
Amortization of right of use assets 4 6
Amortization of contract cost assets 10 9
Amortization of debt issuance costs 1 3
Impairment costs 0 6
Accretion of bond discount (5) (17)
Other adjustments to reconcile net income (loss) to net cash provided by operating activities (5) 8
Changes in operating assets and liabilities:    
Accounts receivable (47) (19)
Mortgage loans held for sale (91) (95)
Prepaid expenses and other assets (46) (49)
Contract cost assets (13) (9)
Lease liabilities (6) (27)
Accounts payable 26 11
Accrued expenses and other current liabilities 18 6
Accrued compensation and benefits 0 (1)
Deferred revenue 8 7
Other long-term liabilities (1) 0
Net cash provided by operating activities 191 135
Investing activities    
Proceeds from maturities of investments 272 474
Proceeds from sales of investments 50 0
Purchases of investments (109) (591)
Purchases of property and equipment (73) (76)
Purchases of intangible assets (115) (14)
Net cash provided by (used in) investing activities 25 (207)
Financing activities    
Net borrowings on repurchase agreements 85 89
Repurchases of Class A common stock and Class C capital stock (400) (301)
Settlement of convertible senior notes (419) (89)
Proceeds from exercise of stock options 55 61
Payment of contingent consideration for acquisition (30) 0
Net cash used in financing activities (709) (240)
Net decrease in cash, cash equivalents and restricted cash during period (493) (312)
Cash, cash equivalents and restricted cash at beginning of period 1,085 1,495
Cash, cash equivalents and restricted cash at end of period 592 1,183
Noncash transactions:    
Write-off of fully depreciated property and equipment 82 20
Capitalized share-based compensation $ 33 $ 40