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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net loss $ (85) $ (29)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 134 121
Share-based compensation 342 341
Amortization of right of use assets 18 17
Amortization of contract cost assets 16 23
Amortization of debt discount and debt issuance costs 4 24
Loss on extinguishment of debt 0 21
Accretion of bond discount (29) (11)
Other adjustments to reconcile net loss to net cash provided by operating activities 3 11
Changes in operating assets and liabilities:    
Accounts receivable (26) 76
Mortgage loans held for sale (55) 58
Inventory 0 3,904
Prepaid expenses and other assets (22) (13)
Contract cost assets (16) (13)
Lease liabilities (24) (15)
Accounts payable 7 1
Accrued expenses and other current liabilities (3) (49)
Accrued compensation and benefits 4 (52)
Deferred revenue 4 (1)
Other long-term liabilities (4) 6
Net cash provided by operating activities 268 4,420
Investing activities    
Proceeds from maturities of investments 1,136 455
Purchases of investments (638) (1,474)
Purchases of property and equipment (101) (87)
Purchases of intangible assets (24) (17)
Cash paid for acquisitions, net (34) 0
Net cash provided by (used in) investing activities 339 (1,123)
Financing activities    
Repayments of borrowings on credit facilities 0 (2,205)
Net borrowings (repayments) on warehouse line of credit and repurchase agreements 54 (68)
Repurchases of Class A common stock and Class C capital stock (336) (773)
Settlement of long-term debt 0 (1,158)
Proceeds from exercise of stock options 56 44
Net cash used in financing activities (226) (4,160)
Net increase (decrease) in cash, cash equivalents and restricted cash during period 381 (863)
Cash, cash equivalents and restricted cash at beginning of period 1,468 2,838
Cash, cash equivalents and restricted cash at end of period 1,849 1,975
Noncash transactions:    
Capitalized share-based compensation 56 33
Write-off of fully depreciated property and equipment 29 48
Issuance of capital stock in connection with an acquisition 20 0
Write-off of fully amortized intangible assets 4 200
Recognition of operating right of use assets and lease liabilities 1 14
Settlement of beneficial interests in securitizations $ 0 $ (79)