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Share-Based Awards (Tables) | 9 Months Ended
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Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Summary of Option Award Activity | The following table summarizes option award activity for the nine months ended September 30, 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 |  |  | 7.1 |  | $ | 15 |
Granted | 6,890 |  |  | 42.63 |  |  |  |  |
Exercised | (1,454) |  |  | 38.84 |  |  |  |  |
Forfeited or cancelled | (892) |  |  | 48.28 |  |  |  |  |
Outstanding at September 30, 2023 | 33,142 |  |  | 44.60 |  |  | 7.0 |  | 173 |
Vested and exercisable at September 30, 2023 | 19,802 |  |  | 44.96 |  |  | 5.8 |  | 113 |
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 option awards granted for the periods presented:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Expected volatility | 62% |  | 61% |  | 55% - 62% |  | 55% - 61%
Risk-free interest rate | 4.34% |  | 3.38% |  | 3.75% - 4.34% |  | 1.94% - 3.38%
Weighted-average expected life | 5.3 years |  | 5.0 years |  | 5.3 - 6.5 years |  | 4.5 - 6.0 years
Weighted-average fair value of options granted | $27.26 |  | $18.06 |  | $24.06 |  | $23.75
Summary of Restricted Stock Units Activity | The following table summarizes activity for restricted stock units for the nine months ended September 30, 2023:
| Restricted Stock Units (in thousands) |  | Weighted-Average Grant Date Fair Value
Unvested outstanding at January 1, 2023 | 10,930 |  |  | $ | 46.85 |
Granted | 8,191 |  |  | 43.27 |
Vested | (4,675) |  |  | 45.96 |
Forfeited | (841) |  |  | 46.58 |
Unvested outstanding at September 30, 2023 | 13,605 |  |  | 45.01 |
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,
| 2023 |  | 2022 |  | 2023 |  | 2022
Cost of revenue | $ | 4 |  |  | $ | 5 |  |  | $ | 12 |  |  | $ | 12 |
Sales and marketing | 18 |  |  | 21 |  |  | 53 |  |  | 46 |
Technology and development | 42 |  |  | 57 |  |  | 123 |  |  | 123 |
General and administrative | 45 |  |  | 64 |  |  | 154 |  |  | 142 |
Impairment and restructuring costs | — |  |  | — |  |  | — |  |  | 2 |
Share-based compensation - continuing operations | 109 |  |  | 147 |  |  | 342 |  |  | 325 |
Share-based compensation - discontinued operations | — |  |  | 1 |  |  | — |  |  | 16 |
Total share-based compensation | $ | 109 |  |  | $ | 148 |  |  | $ | 342 |  |  | $ | 341 |

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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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