XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.23.3

Stock-Based Compensation | 9 Months Ended
--- | ---
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation Stock-Based Compensation Expense The following table summarizes total stock-based compensation expense (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 | 2023 |  | 2022 | 2023
Operations and support | $ | 18 |  | $ | 17 |  |  | $ | 47 |  | $ | 51 |
Product development | 135 |  | 175 |  |  | 398 |  | 515 |
Sales and marketing | 28 |  | 33 |  |  | 78 |  | 97 |
General and administrative | 53 |  | 61 |  |  | 153 |  | 167 |
Stock-based compensation expense | $ | 234 |  | $ | 286 |  |  | $ | 676 |  | $ | 830 |
Stock Option and Restricted Stock Unit Activity A summary of stock option and restricted stock unit (“RSU”) activity under the Company’s equity incentive plans was as follows (in millions, except per share amounts):
|  |  | Outstanding Stock Options |  | Outstanding RSUs
| Shares Available for Grant |  | Number of Shares | Weighted- Average Exercise Price |  | Number of Shares | Weighted- Average Grant Date Fair Value
As of December 31, 2022 | 108 |  |  | 22 |  | $ | 23.41 |  |  | 34 |  | $ | 77.07 |
Granted | (11) |  |  | 1 |  | 122.41 |  |  | 10 |  | 121.42 |
Increase in shares available for grant | 32 |  |  | — |  | — |  |  | — |  | — |
Exercised/Vested | 3 |  |  | (16) |  | 4.93 |  |  | (9) |  | 98.85 |
Canceled | 2 |  |  | — |  | — |  |  | (2) |  | 119.46 |
As of September 30, 2023 | 134 |  |  | 7 |  | $ | 69.66 |  |  | 33 |  | $ | 83.06 |
| Number of Shares | Weighted- Average Exercise Price | Weighted- Average Remaining Contractual Life (years) | Aggregate Intrinsic Value
Options outstanding as of September 30, 2023 | 7 |  | $ | 69.66 |  | 5.83 | $ | 544 |
Options exercisable as of September 30, 2023 | 6 |  | $ | 57.21 |  | 5.06 | $ | 480 |
In May 2023, 11.2 million stock options were exercised in cashless transactions pursuant to which the Company withheld and retired 5.7 million shares of common stock, valued at their fair market value on the exercise date, to cover the related $567 million of employee withholding tax and $36 million of exercise cost. Employee Stock Purchase Plan (“ESPP”) The Company recorded stock-based compensation expense related to the ESPP of $9 million and $6 million for the three months ended September 30, 2022 and 2023, respectively, and $23 million and $20 million for the nine months ended September 30, 2022 and 2023, respectively. For the nine months ended September 30, 2022, the Company issued 0.2 million shares of Class A common stock under the ESPP at a weighted-average price of $103.23 per share, resulting in net cash proceeds of $20 million. For the nine months ended September 30, 2023, the Company issued 0.3 million shares of Class A common stock at a weighted-average price of $88.77 per share, resulting in net cash proceeds of $31 million.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration