v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income $ 46 $ 8
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 65 65
Share-based compensation 81 97
Amortization of right of use assets 2 2
Amortization of contract cost assets 6 5
Other adjustments to reconcile net income to net cash provided by operating activities (16) (5)
Changes in operating assets and liabilities:    
Accounts receivable (4) (11)
Mortgage loans held for sale 25 (26)
Prepaid expenses and other assets (64) (38)
Contract cost assets (6) (7)
Lease liabilities (4) (2)
Accounts payable 32 5
Accrued expenses and other current liabilities 23 9
Accrued compensation and benefits 8 (5)
Deferred revenue 5 8
Other long-term liabilities 1 (1)
Net cash provided by operating activities 200 104
Investing activities    
Proceeds from maturities of investments 93 150
Proceeds from sales of investments 391 2
Purchases of investments (64) (60)
Purchases of property and equipment (34) (36)
Purchases of intangible assets (10) (108)
Net cash provided by (used in) investing activities 376 (52)
Financing activities    
Net borrowings (repayments) on master repurchase agreements (29) 28
Repurchases of Class A common stock and Class C capital stock (626) (250)
Payments for debt issuance costs 2 0
Proceeds from exercise of stock options 18 33
Payment of contingent consideration for acquisition (27) (30)
Net cash used in financing activities (666) (219)
Net decrease in cash, cash equivalents and restricted cash during period (90) (167)
Cash, cash equivalents and restricted cash at beginning of period 773 1,085
Cash, cash equivalents and restricted cash at end of period 683 918
Noncash transactions:    
Write-off of fully depreciated property and equipment 57 46
Share-Based Payment Arrangement, Amount Capitalized 14 15
Payments for debt issuance costs $ 2 $ 0