XML 20 R5.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Revenue $ 2,548.2 $ 2,501.6 $ 2,324.9
Cost of revenue [1],[2] 445.1 478.5 444.2
Gross profit 2,103.1 2,023.1 1,880.7
Operating expenses      
Research and development [1],[2] 914.9 936.5 891.9
Sales and marketing [1],[2] 460.7 466.0 409.4
General and administrative [1],[2] 241.2 237.1 222.9
Net loss (gain) on real estate assets [3] 0.1 (155.2) 175.2
Total operating expenses [1],[2] 1,616.9 1,484.4 1,699.4
Income from operations 486.2 538.7 181.3
Interest income, net 13.9 19.4 3.3
Other income (loss), net 9.7 (3.7) 8.1
Income before income taxes 509.8 554.4 192.7
(Provision for) benefit from income taxes [4] (57.5) (100.8) 360.5
Net income $ 452.3 $ 453.6 $ 553.2
Basic net income per share (in dollars per share) $ 1.42 $ 1.33 $ 1.53
Diluted net income per share (in dollars per share) $ 1.40 $ 1.31 $ 1.52
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares) 318.2 341.2 361.2
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares) 323.4 345.6 363.3
[1] Includes expenses related to the Company's reduction in workforce such as severance, benefits and other related items during the years ended December 31, 2024 and 2023. See Note 1, "Description of the Business and Summary of Significant Accounting Policies - Reduction in Workforce" for additional information.
[2] Includes stock-based compensation as follows:
Year Ended
December 31,
202420232022
Cost of revenue$22.9 $23.3 $24.7 
Research and development(5)
247.6 237.6 232.3 
Sales and marketing23.7 22.0 22.4 
General and administrative52.3 55.1 51.3 
Total stock-based compensation$346.5 $338.0 $330.7 
[3] Includes a one-time gain of $158.8 million related to the partial termination of the Company's lease for its San Francisco, California corporate headquarters for the year ended December 31, 2023 and impairment charges related to real estate assets for the years ended December 31, 2024, 2023, and 2022.
[4] Results of Operations for the year ended December 31, 2022 includes a one-time benefit from income taxes of $420.2 million due to the release of a valuation allowance on the U.S. federal and certain state deferred tax assets.