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SEGMENT REPORTING
6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING AND GEOGRAPHIC INFORMATION SEGMENT REPORTING
See Note 17 to the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 for additional information on the Company's segment reporting. The following table presents information on the Company's reportable segment:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2026202520262025
Total revenues
$7,352 $6,798 $12,884 $11,560 
Marketing expenses2,371 2,139 4,439 3,916 
Sales and other expenses942 899 1,760 1,601 
Personnel expenses833 824 1,667 1,613 
Other segment items575 500 1,125 951 
Segment Adjusted EBITDA less Capex
$2,631 $2,436 $3,893 $3,479 
The following table presents the reconciliation of the Company's segment Adjusted EBITDA less Capex to Income before income taxes:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2026202520262025
Segment Adjusted EBITDA less Capex
$2,631 $2,436 $3,893 $3,479 
Additions to property and equipment
80 60 162 170 
Adjustment related to the Netherlands pension fund matter (1)
— (6)— 123 
Gain related to settlement of litigation matters (1)
— — 89 — 
Depreciation and amortization (2)
(129)(158)(260)(312)
Transformation costs (3)
(29)(36)(52)(68)
Interest expense (2)
(300)(418)(553)(1,067)
Interest and dividend income (2)
201 234 388 475 
Net (losses) gains on equity securities (4)
(25)21 (132)24 
Foreign currency transaction gains (losses) on the remeasurement of certain Euro-denominated debt and accrued interest and gains on debt-related foreign currency derivative instruments (4)
195 (961)528 (1,350)
Change in fair value of the conversion option related to the convertible senior notes (5)
— — 163 
Other (6)
(64)(73)(104)(137)
Income before income taxes
$2,560 $1,104 $3,959 $1,500 
(1)    See Note 13 for additional information.
(2)    See the Unaudited Consolidated Statements of Operations.
(3)    See Note 17 for additional information.
(4)    See Note 15 for additional information.
(5)    See Note 9 for additional information.
(6)    Primarily consists of the expenses of corporate headquarters and certain other functional departments.

Stock-based compensation included in the determination of segment Adjusted EBITDA less Capex was $123 million and $249 million for the three and six months ended June 30, 2026, respectively, and $137 million and $267 million for the three and six months ended June 30, 2025, respectively.