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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:        
Net loss $ (42) $ (46) $ (290) $ (401)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization 99 102 203 206
Equity-based compensation expense     214 308
Amortization of discount and issuance costs on convertible notes     5 3
Impairment and other related net charges 1 1 1 14
Gain on debt extinguishment 0 (100) 0 (100)
Other non-cash adjustments     (8) (3)
Changes in operating assets and liabilities:        
Accounts receivable, net     (37) 144
Inventories     (4) 13
Prepaid expenses and other assets     11 (8)
Accounts payable and other liabilities     11 (106)
Net cash provided by operating activities     106 70 Close
Cash flows (for) from investing activities:        
Purchase of short- and long-term investments     (38) 0
Sale and maturities of short- and long-term investments     27 225
Purchase of property and equipment     (36) (71)
Site and software development costs     (80) (105)
Net cash (used in) provided by investing activities     (127) 49 Close
Cash flows from financing activities:        
Proceeds from issuance of convertible notes, net of issuance costs     0 678
Premiums paid for capped call confirmations     0 (87)
Payments to extinguish convertible debt     0 (514)
Other financing activities, net     3 0
Net cash provided by financing activities     3 77 Close
Effect of exchange rate changes on cash, cash equivalents and restricted cash     0 3 Close
Net (decrease) increase in cash, cash equivalents and restricted cash     (18) 199 Close
Cash, cash equivalents and restricted cash        
Beginning of period     1,326 1,050
End of period 1,308 1,249 1,308 1,249
Supplemental cash flow information:        
Cash paid for interest on long-term debt     31 22
Purchase of property and equipment included in accounts payable and other liabilities     15 1
Reconciliation of cash, cash equivalents and restricted cash to condensed consolidated balance sheets        
Cash and cash equivalents 1,304 1,249 1,304 1,249
Restricted cash included within prepaid expenses and other current assets 4 0 4 0
Total cash, cash equivalents and restricted cash $ 1,308 $ 1,249 $ 1,308 $ 1,249