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Share-Based Awards (Tables) | 9 Months Ended
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Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Option Award Activity | The following table summarizes all option award activity for the nine months ended September 30, 2022:
| Number of Shares Subject to Existing Options (in thousands) |  | Weighted- Average Exercise Price Per Share |  | Weighted- Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2022 | 25,746 |  |  | $ | 72.86 |  |  | 7.48 |  | $ | 354 |
Granted | 6,792 |  |  | 46.47 |  |  |  |  |
Exercised | (1,078) |  |  | 40.59 |  |  |  |  |
Forfeited or cancelled | (3,061) |  |  | 88.70 |  |  |  |  |
Outstanding at September 30, 2022 | 28,399 |  |  | 45.25 |  |  | 7.31 |  | 8 |
Vested and exercisable at September 30, 2022 | 15,398 |  |  | 44.74 |  |  | 6.10 |  | 8 |
Fair Value of Options Granted, Estimated at Date of Grant Using Black Scholes Merton Option Pricing Model | The fair value of all option awards granted is estimated at the date of grant using the Black-Scholes-Merton option-pricing model, assuming no dividends and with the following assumptions for the periods presented:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Expected volatility | 61% |  | 55% |  | 55% - 61% |  | 52% - 56%
Risk-free interest rate | 3.38% |  | 0.76% |  | 1.94% - 3.38% |  | 0.57% - 0.90%
Weighted-average expected life | 5.00 years |  | 4.75 years |  | 4.50 - 6.00 years |  | 4.50 - 5.75 years
Weighted-average fair value of options granted | $18.06 |  | $45.40 |  | $23.75 |  | $58.96
Summary of Restricted Stock Units Activity | The following table summarizes activity for all restricted stock units for the nine months ended September 30, 2022:
| Restricted Stock Units (in thousands) |  | Weighted- Average Grant- Date Fair Value
Unvested outstanding at January 1, 2022 | 6,074 |  |  | $ | 66.51 |
Granted | 10,664 |  |  | 42.71 |
Vested | (3,278) |  |  | 53.87 |
Forfeited | (2,193) |  |  | 60.45 |
Unvested outstanding at September 30, 2022 | 11,267 |  |  | 48.85 |
Effects of Share Based Compensation in Consolidated Statements of Operations | The following table presents the effects of share-based compensation expense in our condensed consolidated statements of operations during the periods presented (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Cost of revenue | $ | 5 |  |  | $ | 2 |  |  | $ | 12 |  |  | $ | 7 |
Sales and marketing | 21 |  |  | 11 |  |  | 46 |  |  | 31 |
Technology and development | 57 |  |  | 25 |  |  | 123 |  |  | 78 |
General and administrative | 64 |  |  | 32 |  |  | 142 |  |  | 88 |
Restructuring costs | — |  |  | — |  |  | 2 |  |  | — |
Share-based compensation - continuing operations | 147 |  |  | 70 |  |  | 325 |  |  | 204 |
Share-based compensation - discontinued operations | 1 |  |  | 9 |  |  | 16 |  |  | 27 |
Total share-based compensation | $ | 148 |  |  | $ | 79 |  |  | $ | 341 |  |  | $ | 231 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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