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Debt (Tables)

3 Months Ended

Mar. 31, 2023

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 millions):

			March 31, 2023						December 31, 2022
Credit facilities
Repurchase agreements:
Credit Suisse AG, Cayman Islands			$	25					$	23
Citibank, N.A.			—						3
Warehouse line of credit:
Comerica Bank			17						11
Total credit facilities			42						37
Convertible senior notes
1.375% convertible senior notes due 2026			495						495
2.75% convertible senior notes due 2025			560						560
0.75% convertible senior notes due 2024			606						605
Total convertible senior notes			1,661						1,660
Total debt			$	1,703					$	1,697

Schedule of Revolving Credit Facilities and Lines of Credit

The following table summarizes certain details related to our repurchase agreements and warehouse line of credit (in millions, except interest rates):

Lender						Maturity Date						Maximum Borrowing Capacity						Weighted-Average Interest Rate
Credit Suisse AG, Cayman Islands						March 11, 2024						$	50					6.81		%
Citibank, N.A.						June 9, 2023						100						6.64		%
Comerica Bank						June 24, 2023						50						6.76		%
						Total						$	200

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 millions, except interest rates):

																														March 31, 2023												December 31, 2022
Maturity Date						Aggregate Principal Amount						Stated Interest Rate						Effective Interest Rate						Semi-Annual Interest Payment Dates						Unamortized Debt Issuance Costs						Fair Value						Unamortized Debt Issuance Costs						Fair Value
September 1, 2026						$	499					1.375		%				1.57		%				March 1; September 1						$	4					$	590					$	4					$	504
May 15, 2025						565						2.75		%				3.20		%				May 15; November 15						5						571						5						531
September 1, 2024						608						0.75		%				1.02		%				March 1; September 1						2						699						3						629
Total						$	1,672																							$	11					$	1,860					$	12					$	1,664

						Three Months Ended March 31, 2023																		Three Months Ended March 31, 2022
Maturity Date						Contractual Coupon Interest						Amortization of Debt Issuance Costs						Interest Expense						Contractual Coupon Interest															Interest Expense
September 1, 2026						$	2					$	—					$	2					$	2														$	2
May 15, 2025						4						—						4						4															4
September 1, 2024						1						1						2						1															1
Total						$	7					$	1					$	8					$	7														$	7

The following table summarizes the conversion and redemption options with respect to the Notes:

Maturity Date

Early Conversion Date

Conversion Rate

Conversion Price

Optional Redemption Date

September 1, 2026

March 1, 2026

22.9830

$

43.51

September 5, 2023

May 15, 2025

November 15, 2024

14.8810

67.20

May 22, 2023

September 1, 2024

March 1, 2024

22.9830

43.51

September 5, 2022

The following table summarizes certain details related to the capped call confirmations with respect to the convertible senior notes:

Maturity Date						Initial Cap Price						Cap Price Premium
September 1, 2026						$	80.5750					150		%
September 1, 2024						72.5175						125		%
July 1, 2023						105.45						85		%

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-Name Accounting Standards Codification
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