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Debt (Tables)
 6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Schedule of Carrying Value of Debt The following table presents the carrying values of Zillow Group’s debt as of the dates presented (in thousands):
June 30, 2021December 31, 2020
Homes segment
Credit facilities:
Goldman Sachs Bank USA$183,373 $145,825 
Citibank, N.A.219,989 87,103 
Credit Suisse AG, Cayman Islands421,083 128,238 
Total Homes segment debt824,445 361,166 
Mortgages segment
Repurchase agreements:
Credit Suisse AG, Cayman Islands99,706 149,913 
Citibank, N.A.21,332 90,227 
Warehouse line of credit:
Comerica Bank42,349 68,903 
Total Mortgages segment debt163,387 309,043 
Convertible senior notes
1.375% convertible senior notes due 2026
357,531 347,566 
2.75% convertible senior notes due 2025
428,830 414,888 
0.75% convertible senior notes due 2024
490,126 524,273 
1.50% convertible senior notes due 2023
330,095 326,796 
Total convertible senior notes1,606,582 1,613,523 
Total debt$2,594,414 $2,283,732 
Schedule of Revolving Credit Facilities and Lines of Credit The following table summarizes certain details related to our credit facilities (in thousands, except interest rates):
LenderFinal Maturity DateMaximum Borrowing CapacityWeighted-Average Interest Rate
Goldman Sachs Bank USAApril 21, 2023$500,000 2.90 %
Citibank, N.A.December 9, 2023500,000 2.84 %
Credit Suisse AG, Cayman IslandsDecember 31, 2022500,000 2.84 %
Total$1,500,000 
The following table summarizes certain details related to our repurchase agreements and warehouse line of credit (in thousands, except interest rates):
LenderMaturity DateMaximum Borrowing CapacityWeighted-Average Interest Rate
Credit Suisse AG, Cayman Islands    March 18, 2022$300,000 2.50 %
Citibank, N.A.June 10, 2022100,000 1.85 %
Comerica BankJune 25, 202260,000 2.70 %
Total$460,000 
Schedule of Convertible Senior Notes
The following tables summarize certain details related to our outstanding convertible senior notes as of the dates presented or for the periods ended (in thousands, except interest rates):
June 30, 2021December 31, 2020
Maturity DateAggregate Principal AmountStated Interest RateEffective Interest RateFirst Interest Payment DateSemi-Annual Interest Payment DatesUnamortized Debt Discount and Debt Issuance CostsFair ValueUnamortized Debt Discount and Debt Issuance CostsFair Value
September 1, 2026$498,800 1.375 %8.10 %March 1, 2020March 1; September 1$141,269 $1,434,100 $152,434 $1,508,675 
May 15, 2025565,000 2.75 %10.32 %November 15, 2020May 15; November 15136,170 1,132,718 150,112 1,168,855 
September 1, 2024608,382 0.75 %7.68 %March 1, 2020March 1; September 1118,256 1,665,403 148,727 2,023,280 
July 1, 2023367,678 1.50 %6.99 %January 1, 2019January 1; July 137,583 568,397 46,954 633,039 
Total$2,039,860 $433,278 $4,800,618 $498,227 $5,333,849 
Three Months Ended
June 30, 2021		Three Months Ended
June 30, 2020
Maturity DateContractual Coupon InterestAmortization of Debt DiscountAmortization of Debt Issuance CostsInterest ExpenseContractual Coupon InterestAmortization of Debt DiscountAmortization of Debt Issuance CostsInterest Expense
September 1, 2026$1,715 $5,323 $131 $7,169 $1,719 $4,922 $120 $6,761 
May 15, 20253,884 6,702 358 10,944 2,007 3,148 168 5,323 
September 1, 20241,143 7,917 270 9,330 1,262 8,095 278 9,635 
July 1, 20231,398 4,008 392 5,798 1,402 3,749 366 5,517 
December 1, 2021— — — — 1,803 3,945 408 6,156 
December 15, 2020— — — — 66 — — 66 
Total$8,140 $23,950 $1,151 $33,241 $8,259 $23,859 $1,340 $33,458 
Six Months Ended
June 30, 2021		Six Months Ended
June 30, 2020
Maturity DateContractual Coupon InterestAmortization of Debt DiscountAmortization of Debt Issuance CostsInterest ExpenseContractual Coupon InterestAmortization of Debt DiscountAmortization of Debt Issuance CostsInterest Expense
September 1, 2026$3,432 $10,549 $259 $14,240 $3,438 $9,746 $238 $13,422 
May 15, 20257,768 13,235 707 21,710 2,007 3,148 168 5,323 
September 1, 20242,381 16,327 559 19,267 2,510 15,956 545 19,011 
July 1, 20232,799 7,958 778 11,535 2,804 7,446 727 10,977 
December 1, 2021— — — — 4,103 8,856 916 13,875 
December 15, 2020— — — — 132 — — 132 
Total$16,380 $48,069 $2,303 $66,752 $14,994 $45,152 $2,594 $62,740 
The following table summarizes the conversion and redemption options with respect to the 2026 Notes, 2025 Notes, 2024 Notes and 2023 Notes (together, the “Notes”):

Maturity DateEarly Conversion DateConversion RateConversion PriceOptional Redemption Date
September 1, 2026March 1, 202622.9830$43.51 September 5, 2023
May 15, 2025November 15, 202414.881067.20 May 22, 2023
September 1, 2024March 1, 202422.983043.51 September 5, 2022
July 1, 2023April 1, 202312.759278.37 July 6, 2021
The following table summarizes certain details related to the capped call confirmations with respect to certain of the convertible senior notes:
Maturity DateInitial Cap PriceCap Price Premium
September 1, 2026$80.5750 150 %
September 1, 202472.5175 125 %
July 1, 2023105.45 85 %
December 1, 202169.19 85 %
Each series of the Notes was convertible during the three months ended June 30, 2021, at the option of the holders. During the three months ended June 30, 2021, holders of the 2023 Notes elected to convert $5.1 million aggregate principal amount of 2023 Notes. During the three months ended June 30, 2021, holders of the 2024 Notes elected to convert $14.0 million aggregate principal amount of the 2024 Notes. During the three months ended June 30, 2020, we used a portion of the net proceeds from the issuance of the 2025 Notes to repurchase $194.7 million aggregate principal of the convertible senior notes due 2021 (the “2021 Notes”) in privately negotiated transactions. The following table summarizes the activity for our convertible senior notes for the periods presented (in thousands, except for share amounts):
Three Months Ended
June 30, 2021		Three Months Ended
June 30, 2020
2023 Notes2024 NotesTotal2021 Notes
Aggregate principal amount settled$5,147 $14,000 $19,147 $194,670 
Cash paid— — — 194,670 
Shares of Class C capital stock issued65,669 321,762 387,431 753,936 
Total fair value of consideration transferred (1)$8,081 $46,553 $54,634 $230,859 
(Gain) loss on extinguishment of debt:
Consideration allocated to the liability component (2)$4,807 $11,848 $16,655 $172,886 
Carrying value of the liability component, net of unamortized debt discount and debt issuance costs4,619 11,105 15,724 179,277 
(Gain) loss on extinguishment of debt$188 $743 $931 $(6,391)
Consideration allocated to the equity component$3,274 $34,705 $37,979 $57,973 
Six Months Ended
June 30, 2021		Six Months Ended
June 30, 2020
2023 Notes2024 Notes2026 NotesTotal2021 Notes
Aggregate principal amount settled$6,072 $64,618 $1,200 $71,890 $194,670 
Cash paid— — — — 194,670 
Shares of Class C capital stock issued77,458 1,485,114 27,579 1,590,151 753,936 
Total fair value of consideration transferred (1)$9,724 $200,478 $4,204 $214,406 $230,859 
(Gain) loss on extinguishment of debt:
Consideration allocated to the liability component (2)$5,648 $53,115 $883 $59,646 $172,886 
Carrying value of the liability component, net of unamortized debt discount and debt issuance costs5,437 51,032 843 57,312 179,277 
(Gain) loss on extinguishment of debt$211 $2,083 $40 $2,334 $(6,391)
Consideration allocated to the equity component$4,076 $147,363 $3,321 $154,760 $57,973 
(1) For convertible senior notes converted by note holders, the total fair value of consideration transferred includes the value of shares transferred to note holders using the daily volume weighted-average price of our Class C capital stock on the conversion date and an immaterial amount of cash paid in lieu of fractional shares. For convertible senior notes repurchased in the three months ended June 30, 2021, the total value of consideration transferred includes the value of shares transferred to note holders using the daily volume weighted-average price of our Class C capital stock on the date of transfer as well as cash transferred to note holders to settle the related notes.
(2) Consideration allocated to the liability component is based on the fair value of the liability component immediately prior to settlement, which was calculated using a discounted cash flow analysis with a market interest rate of a similar liability that does not have an associated convertible feature.