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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net income (loss) $ (22) $ 16
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 40 43
Share-based compensation 103 91
Amortization of right of use assets 6 6
Amortization of contract cost assets 6 8
Amortization of debt discount and debt issuance costs 1 23
Loss on extinguishment of debt 0 14
Other adjustments to reconcile net income (loss) to cash provided by operating activities (2) 2
Changes in operating assets and liabilities:    
Accounts receivable (3) 56
Mortgage loans held for sale (7) 14
Inventory 0 3,414
Prepaid expenses and other assets (27) (247)
Contract cost assets (6) (4)
Lease liabilities (8) (9)
Accounts payable 0 6
Accrued expenses and other current liabilities 10 (43)
Accrued compensation and benefits (3) (6)
Deferred revenue 5 5
Other long-term liabilities 0 3
Net cash provided by operating activities 93 3,392
Investing activities    
Proceeds from maturities of investments 433 0
Purchases of investments (490) (525)
Purchases of property and equipment (31) (33)
Purchases of intangible assets (9) (5)
Net cash used in investing activities (97) (563)
Financing activities    
Repayments of borrowings on credit facilities 0 (2,205)
Net borrowings (repayments) on warehouse line of credit and repurchase agreements 5 (25)
Repurchases of Class A common stock and Class C capital stock (86) (348)
Settlement of long-term debt 0 (439)
Proceeds from exercise of stock options 13 36
Net cash used in financing activities (68) (2,981)
Net decrease in cash, cash equivalents and restricted cash during period (72) (152)
Cash, cash equivalents and restricted cash at beginning of period 1,468 2,838
Cash, cash equivalents and restricted cash at end of period 1,396 2,686
Noncash transactions:    
Capitalized share-based compensation 18 10
Write-off of fully depreciated property and equipment 7 18
Recognition of operating right of use assets and lease liabilities 0 16
Write-off of fully amortized intangible assets $ 2 $ 168