v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net income (loss) $ (116) $ 20
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 194 199
Share-based compensation 255 295
Amortization of right of use assets 7 6
Amortization of contract cost assets 19 16
Other adjustments to reconcile net income (loss) to net cash provided by operating activities (14) (10)
Changes in operating assets and liabilities:    
Accounts receivable (32) (53)
Mortgage loans held for sale (37) (132)
Prepaid expenses and other assets (163) (67)
Contract cost assets (18) (18)
Lease liabilities (12) (9)
Accounts payable 38 8
Accrued expenses and other current liabilities 246 32
Accrued compensation and benefits 21 2
Deferred revenue (16) 7
Other long-term liabilities 1 0
Net cash provided by operating activities 373 296
Investing activities    
Proceeds from maturities of investments 108 338
Proceeds from sales of investments 391 61
Purchases of investments (82) (127)
Purchases of property and equipment (104) (105)
Purchases of intangible assets (28) (123)
Net cash provided by investing activities 285 44
Financing activities    
Net borrowings on master repurchase agreements 28 127
Repurchases of Class A common stock and Class C capital stock (846) (438)
Settlement of 2025 Notes 0 (419)
Proceeds from settlement of capped call transactions 0 38
Payments for debt issuance costs 2 0
Proceeds from exercise of stock options 24 176
Payment of contingent consideration for acquisition (27) (30)
Net cash used in financing activities (823) (546)
Net decrease in cash, cash equivalents and restricted cash during period (165) (206)
Cash, cash equivalents and restricted cash at beginning of period 773 1,085
Cash, cash equivalents and restricted cash at end of period 608 879
Noncash transactions:    
Write-off of fully depreciated property and equipment 138 116
Capitalized share-based compensation 40 48
Write-off of fully amortized intangible assets $ 30 $ 58