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Share-Based Awards (Tables)

9 Months Ended

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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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.

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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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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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