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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income (loss) $ 20 $ (60)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 199 178
Share-based compensation 295 329
Amortization of right of use assets 6 8
Amortization of contract cost assets 16 14
Amortization of debt issuance costs 1 4
Impairment costs 2 6
Accretion of bond discount (7) (23)
Other adjustments to reconcile net income (loss) to net cash provided by operating activities (6) 14
Changes in operating assets and liabilities:    
Accounts receivable (53) (21)
Mortgage loans held for sale (132) (64)
Prepaid expenses and other assets (67) (73)
Contract cost assets (18) (15)
Lease liabilities (9) (31)
Accounts payable 8 25
Accrued expenses and other current liabilities 32 8
Accrued compensation and benefits 2 2
Deferred revenue 7 5
Net cash provided by operating activities 296 306
Investing activities    
Proceeds from maturities of investments 338 906
Proceeds from sales of investments 61 13
Purchases of investments (127) (668)
Purchases of property and equipment (105) (109)
Purchases of intangible assets (123) (21)
Net cash provided by investing activities 44 121
Financing activities    
Net borrowings on repurchase agreements 127 55
Repurchases of Class A common stock and Class C capital stock (438) (301)
Settlement of convertible senior notes (419) (697)
Proceeds from settlement of capped call transactions 38 0
Proceeds from exercise of stock options 176 96
Payment of contingent consideration for acquisition (30) 0
Net cash used in financing activities (546) (847)
Net decrease in cash, cash equivalents and restricted cash during period (206) (420)
Cash, cash equivalents and restricted cash at beginning of period 1,085 1,495
Cash, cash equivalents and restricted cash at end of period 879 1,075
Noncash transactions:    
Write-off of fully depreciated property and equipment 116 63
Write-off of fully amortized intangible assets 58 21
Capitalized share-based compensation $ 48 $ 56