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Share-Based Awards (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Option Award Activity

The following table summarizes all option award activity for the three months ended March 31, 2023:

			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, 2023			28,598						$	44.90					7.08						$	15
Granted			5,837						41.88
Exercised			(373)						36.71
Forfeited or cancelled			(360)						48.03
Outstanding at March 31, 2023			33,702						44.43						7.38						145
Vested and exercisable at March 31, 2023			17,813						44.90						5.91						87

Fair Value of Options Granted, Estimated at Date of Grant Using Black Scholes Merton Option Pricing Model

The following assumptions were used to determine the fair value of all option awards granted for the periods presented:

			Three Months Ended March 31,
			2023						2022
Expected volatility			55% - 61%						55% - 60%
Risk-free interest rate			3.80% - 4.04%						1.94% - 2.54%
Weighted-average expected life			5.25 - 6.50 years						4.50 - 6.00 years
Weighted-average fair value of options granted			$23.60						$25.08

Summary of Restricted Stock Units Activity

The following table summarizes activity for all restricted stock units for the three months ended March 31, 2023:

			Restricted Stock Units (in thousands)						Weighted-Average Grant Date Fair Value
Unvested outstanding at January 1, 2023			10,930						$	46.85
Granted			6,649						42.11
Vested			(1,365)						48.84
Forfeited			(287)						47.78
Unvested outstanding at March 31, 2023			15,927						44.68

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 March 31,
			2023						2022
Cost of revenue			$	4					$	3
Sales and marketing			16						11
Technology and development			39						28
General and administrative			44						35
Share-based compensation - continuing operations			103						77
Share-based compensation - discontinued operations			—						14
Total share-based compensation			$	103					$	91

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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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.

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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.

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