2021 Q4 Form 10-K Financial Statement

#000161764022000013 Filed on February 10, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $3.882B $8.147B $789.0M
YoY Change 392.05% 143.95% -16.41%
Cost Of Revenue $3.007B $6.394B $317.4M
YoY Change 847.48% 242.6% -47.93%
Gross Profit $875.0M $1.753B $471.5M
YoY Change 85.58% 18.99% 41.04%
Gross Profit Margin 22.54% 21.52% 59.76%
Selling, General & Admin $474.6M $1.525B $255.2M
YoY Change 85.96% 45.54% -9.76%
% of Gross Profit 54.24% 86.98% 54.13%
Research & Development $114.1M $474.4M $107.0M
YoY Change 6.67% 21.59% -1.11%
% of Gross Profit 13.04% 27.06% 22.69%
Depreciation & Amortization $41.65M $129.8M $28.00M
YoY Change 48.76% 17.95% 18.64%
% of Gross Profit 4.76% 7.4% 5.94%
Operating Expenses $588.7M $1.999B $382.2M
YoY Change 54.03% 39.04% -6.35%
Operating Profit $286.3M -$327.7M $89.30M
YoY Change 220.61% 691.71% -221.0%
Interest Expense -$68.19M -$191.9M -$40.60M
YoY Change 67.95% 23.65% 1.75%
% of Operating Profit -23.82% -45.46%
Other Income/Expense, Net $4.198M $10.19M $2.800M
YoY Change 49.93% -60.05% -76.67%
Pretax Income -$259.4M -$526.5M $46.60M
YoY Change -656.55% 210.38% -145.82%
Income Tax $1.854M $1.263M $600.0K
% Of Pretax Income 1.29%
Net Earnings -$261.2M -$527.8M $46.00M
YoY Change -667.84% 225.56% -145.45%
Net Earnings / Revenue -6.73% -6.48% 5.83%
Basic Earnings Per Share -$2.11
Diluted Earnings Per Share -$1.028M -$2.11 $195.4K
COMMON SHARES
Basic Shares Outstanding 249.9M shares
Diluted Shares Outstanding 249.9M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.125B $3.125B $3.921B
YoY Change -20.31% -20.29% 61.88%
Cash & Equivalents $2.611B $2.611B $1.703B
Short-Term Investments $514.0M $513.9M $2.218B
Other Short-Term Assets $409.1M $409.1M $151.6M
YoY Change 169.83% 169.83% 2.64%
Inventory $3.913B $3.913B $491.3M
Prepaid Expenses
Receivables $155.0M $232.8M $69.94M
Other Receivables $0.00 $0.00 $330.8M
Total Short-Term Assets $7.680B $7.680B $4.965B
YoY Change 54.69% 54.69% 41.44%
LONG-TERM ASSETS
Property, Plant & Equipment $215.0M $344.5M $196.2M
YoY Change 9.61% -10.31% 15.05%
Goodwill $2.374B $1.985B
YoY Change 19.6% 0.0%
Intangibles $180.0M $94.77M
YoY Change 89.94% -50.27%
Long-Term Investments
YoY Change
Other Assets $81.00M $117.1M $7.175M
YoY Change 1028.92% 102.29% -61.2%
Total Long-Term Assets $3.015B $3.015B $2.522B
YoY Change 19.56% 19.58% -3.82%
TOTAL ASSETS
Total Short-Term Assets $7.680B $7.680B $4.965B
Total Long-Term Assets $3.015B $3.015B $2.522B
Total Assets $10.70B $10.70B $7.487B
YoY Change 42.86% 42.86% 22.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.00M $17.23M $18.97M
YoY Change -10.4% -9.32% 127.42%
Accrued Expenses $161.0M $275.6M $94.49M
YoY Change 70.39% 61.63% 10.59%
Deferred Revenue $51.00M $49.00M
YoY Change 4.09% 23.27%
Short-Term Debt $2.312B $2.312B $670.2M
YoY Change 244.91% 244.91% -7.17%
Long-Term Debt Due $1.209B $1.209B $0.00
YoY Change -100.0%
Total Short-Term Liabilities $3.882B $3.882B $908.6M
YoY Change 327.23% 327.3% -1.29%
LONG-TERM LIABILITIES
Long-Term Debt $1.319B $1.319B $1.614B
YoY Change -18.24% -18.24% 4.54%
Other Long-Term Liabilities $5.000M $148.0M $14.86M
YoY Change -66.35% -28.76% -93.26%
Total Long-Term Liabilities $1.324B $1.467B $1.628B
YoY Change -18.68% -19.44% 5.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.882B $3.882B $908.6M
Total Long-Term Liabilities $1.324B $1.467B $1.628B
Total Liabilities $5.354B $5.354B $2.745B
YoY Change 95.06% 95.07% 1.79%
SHAREHOLDERS EQUITY
Retained Earnings -$1.667B -$1.139B
YoY Change 46.32% 16.59%
Common Stock $7.001B $5.881B
YoY Change 19.05% 33.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.341B $5.341B $4.742B
YoY Change
Total Liabilities & Shareholders Equity $10.70B $10.70B $7.487B
YoY Change 42.86% 42.86% 22.09%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$261.2M -$527.8M $46.00M
YoY Change -667.84% 225.56% -145.45%
Depreciation, Depletion And Amortization $41.65M $129.8M $28.00M
YoY Change 48.76% 17.95% 18.64%
Cash From Operating Activities -$215.4M -$3.177B -$326.0M
YoY Change -33.93% -848.87% -661.1%
INVESTING ACTIVITIES
Capital Expenditures -$34.65M $73.31M -$18.90M
YoY Change 83.33% -13.7% -28.14%
Acquisitions $497.3M
YoY Change
Other Investing Activities $502.4M $1.193B -$335.7M
YoY Change -249.65% -228.24% -55.16%
Cash From Investing Activities $467.7M $1.088B -$354.5M
YoY Change -231.94% -204.79% -54.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$242.3M
YoY Change -41.13%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 59.42M $3.148B 510.5M
YoY Change -88.36% 170.81% 531.03%
NET CHANGE
Cash From Operating Activities -215.4M -$3.177B -326.0M
Cash From Investing Activities 467.7M $1.088B -354.5M
Cash From Financing Activities 59.42M $3.148B 510.5M
Net Change In Cash 311.8M $1.059B -170.0M
YoY Change -283.39% 93.28% -73.27%
FREE CASH FLOW
Cash From Operating Activities -$215.4M -$3.177B -$326.0M
Capital Expenditures -$34.65M $73.31M -$18.90M
Free Cash Flow -$180.7M -$3.250B -$307.1M
YoY Change -41.15% -1057.98% -463.86%

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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:10pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain reclassifications have been made in the consolidated statements of operations to conform data for prior periods to the current format. Beginning with the year ended December 31, 2021, we presented a gross profit subtotal in our consolidated statements of operations, which requires certain depreciation expense and amortization expense to be included within cost of revenue. We believe the presentation of gross profit is preferable as it facilitates investors’ ability to model across our segments and enhances comparability with our public company peers. To effect the presentation of gross profit, we present the amortization expense for certain intangible assets and data acquisition costs within cost of revenue and have reclassified certain amounts in prior periods in the consolidated statements of operations from technology and development expenses to cost of revenue. Additionally, we reclassified the amortization expense for trade names and trademarks and customer relationship intangible assets from technology and development expenses to sales and marketing expenses. This change has no impact on income (loss) from operations or net income (loss).</span></div>
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CY2021 us-gaap Use Of Estimates
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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and the related disclosures at the date of the financial statements, as well as the reported amounts of revenue and expenses during the periods presented. On an ongoing basis, we evaluate our estimates, including those related to the accounting for certain revenue offerings, the net realizable value of inventory, restructuring costs, amortization period and recoverability of contract cost assets, website and software development costs, recoverability of long-lived assets and intangible assets, share-based compensation, income taxes, business combinations and the recoverability of goodwill, among others. To the extent there are material differences between these estimates, judgments or assumptions and actual results, our financial statements will be affected. The COVID-19 pandemic as well as our plans to wind down Zillow Offers operations have introduced significant additional uncertainty with respect to estimates, judgments and assumptions, which may materially impact the estimates previously listed, among others.</span></div>
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk</span></div><div style="margin-top:10pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments, which potentially subject us to concentrations of credit risk, consist primarily of cash and cash equivalents, investments, accounts receivable and mortgage loans held for sale. We place cash and cash equivalents and investments with major financial institutions, which management assesses to be of high credit quality, in order to limit exposure of our investments. </span></div><div style="margin-top:10pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Credit risk with respect to accounts receivable is dispersed due to the large number of customers. There were no customers that comprised 10% or more of our total accounts receivable as of December 31, 2021 and 2020. Further, our credit risk on accounts receivable is mitigated by the relatively short payment terms that we offer. Collateral is not required for accounts receivable. We maintain an allowance for doubtful accounts such that receivables are stated at net realizable value. </span></div>Similarly, our credit risk on mortgage loans held for sale is dispersed due to a large number of customers and is mitigated by the fact that we typically sell mortgages on the secondary market within a relatively short period of time after the loan is originated.
CY2021Q4 us-gaap Capitalized Contract Cost Amortization Period
CapitalizedContractCostAmortizationPeriod
P3Y
CY2021Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P10Y
CY2021 z Lessee Operatinglease Renewal Term Length Of Each Term
LesseeOperatingleaseRenewalTermLengthOfEachTerm
P5Y
CY2021 us-gaap Advertising Expense
AdvertisingExpense
210100000 USD
CY2020 us-gaap Advertising Expense
AdvertisingExpense
113000000 USD
CY2019 us-gaap Advertising Expense
AdvertisingExpense
185200000 USD
CY2021Q4 z Beneficial Interest In Securitization
BeneficialInterestInSecuritization
75103000 USD
CY2021Q4 us-gaap Mortgages Held For Sale Fair Value Disclosure
MortgagesHeldForSaleFairValueDisclosure
106753000 USD
CY2021Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
2832783000 USD
CY2020Q4 us-gaap Mortgages Held For Sale Fair Value Disclosure
MortgagesHeldForSaleFairValueDisclosure
330758000 USD
CY2020Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
4048212000 USD
CY2021Q4 z Beneficial Interest In Securitization Accumulated Gross Unrealized Gains Before Tax
BeneficialInterestInSecuritizationAccumulatedGrossUnrealizedGainsBeforeTax
8900000 USD
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
226651000 USD
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
226651000 USD
CY2021Q4 z Beneficial Interest In Securitization Amortized Cost
BeneficialInterestInSecuritizationAmortizedCost
66167000 USD
CY2021Q4 z Beneficial Interest In Securitization Accumulated Gross Unrealized Gains Before Tax
BeneficialInterestInSecuritizationAccumulatedGrossUnrealizedGainsBeforeTax
8936000 USD
CY2021Q4 z Beneficial Interest In Securitization Accumulated Gross Unrealized Loss Before Tax
BeneficialInterestInSecuritizationAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2021Q4 z Beneficial Interest In Securitization
BeneficialInterestInSecuritization
75103000 USD
CY2021Q4 z Cash Cash Equivalents Short Term Investments And Beneficial Interest In Securitization Amortized Cost
CashCashEquivalentsShortTermInvestmentsAndBeneficialInterestInSecuritizationAmortizedCost
3420050000 USD
CY2021Q4 z Debt Securities Available For Sale And Beneficial Interest In Securitization Accumulated Gross Unrealized Gain Before Tax
DebtSecuritiesAvailableForSaleAndBeneficialInterestInSecuritizationAccumulatedGrossUnrealizedGainBeforeTax
8939000 USD
CY2021Q4 z Debt Securities Available For Sale And Beneficial Interest In Securitization Accumulated Gross Unrealized Loss Before Tax
DebtSecuritiesAvailableForSaleAndBeneficialInterestInSecuritizationAccumulatedGrossUnrealizedLossBeforeTax
1814000 USD
CY2021Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
3427175000 USD
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
75805000 USD
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
75805000 USD
CY2020Q4 z Cash Cash Equivalents Short Term Investments And Beneficial Interest In Securitization Amortized Cost
CashCashEquivalentsShortTermInvestmentsAndBeneficialInterestInSecuritizationAmortizedCost
3996980000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
122000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
59000 USD
CY2020Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
3997043000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
180857000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
180549000 USD
CY2021Q4 z Debt Securities Available For Sale Amortized Cost Maturity Allocated And Single Maturity Date After Year One Through Two Years
DebtSecuritiesAvailableForSaleAmortizedCostMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughTwoYears
401043000 USD
CY2021Q4 z Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date After Year One Through Two Years
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughTwoYears
408476000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
581900000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
589025000 USD
CY2021Q4 us-gaap Inventory Real Estate Held For Sale
InventoryRealEstateHeldForSale
2727421000 USD
CY2020Q4 us-gaap Inventory Real Estate Held For Sale
InventoryRealEstateHeldForSale
339372000 USD
CY2021Q4 us-gaap Inventory Real Estate Improvements
InventoryRealEstateImprovements
1185241000 USD
CY2020Q4 us-gaap Inventory Real Estate Improvements
InventoryRealEstateImprovements
151921000 USD
CY2021Q4 us-gaap Inventory Real Estate
InventoryRealEstate
3912662000 USD
CY2020Q4 us-gaap Inventory Real Estate
InventoryRealEstate
491293000 USD
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
77900000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
20800000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
3427000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4522000 USD
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4838000 USD
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1073000 USD
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2650000 USD
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2772000 USD
CY2021 z Allowance For Doubtful Accounts Receivable Write Offs Net Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetRecoveriesAndOtherAdjustments
742000 USD
CY2020 z Allowance For Doubtful Accounts Receivable Write Offs Net Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetRecoveriesAndOtherAdjustments
3745000 USD
CY2019 z Allowance For Doubtful Accounts Receivable Write Offs Net Recoveries And Other Adjustments
AllowanceForDoubtfulAccountsReceivableWriteOffsNetRecoveriesAndOtherAdjustments
3088000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
3758000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
3427000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4522000 USD
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
48400000 USD
CY2020 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
37100000 USD
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CapitalizedContractCostNet
35500000 USD
CY2020Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
50700000 USD
CY2021 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
41600000 USD
CY2020 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
36500000 USD
CY2019 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
35300000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
333649000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
309937000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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119094000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
113785000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
214555000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
196152000 USD
CY2021 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
31100000 USD
CY2020 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
34100000 USD
CY2019 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
24900000 USD
CY2021 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
85600000 USD
CY2020 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
54800000 USD
CY2019 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
42300000 USD
CY2021Q4 us-gaap Goodwill
Goodwill
2373792000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
1984907000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
381854000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
201782000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
180072000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
298472000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
203705000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
94767000 USD
CY2021Q4 z Finite Lived Intangible Assets And Future Commitments Amortization Expense Year One
FiniteLivedIntangibleAssetsAndFutureCommitmentsAmortizationExpenseYearOne
60793000 USD
CY2021Q4 z Finite Lived Intangible Assets And Future Commitments Amortization Expense Year Two
FiniteLivedIntangibleAssetsAndFutureCommitmentsAmortizationExpenseYearTwo
38882000 USD
CY2021Q4 z Finite Lived Intangible Assets And Future Commitments Amortization Expense Year Three
FiniteLivedIntangibleAssetsAndFutureCommitmentsAmortizationExpenseYearThree
30116000 USD
CY2021Q4 z Finite Lived Intangible Assets And Future Commitments Amortization Expense Year Four
FiniteLivedIntangibleAssetsAndFutureCommitmentsAmortizationExpenseYearFour
21337000 USD
CY2021Q4 z Finite Lived Intangible Assets And Future Commitments Amortization Expense Year Five
FiniteLivedIntangibleAssetsAndFutureCommitmentsAmortizationExpenseYearFive
12605000 USD
CY2021Q4 z Finite Lived Intangible Assets And Future Commitments Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAndFutureCommitmentsAmortizationExpenseAfterYearFive
34971000 USD
CY2021Q4 z Future Amortization Expense Including Intangible Assets And Future Commitments
FutureAmortizationExpenseIncludingIntangibleAssetsAndFutureCommitments
198704000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
161459000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
94487000 USD
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
37915000 USD
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
40292000 USD
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
35837000 USD
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
13418000 USD
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
10323000 USD
CY2019 us-gaap Variable Lease Cost
VariableLeaseCost
11231000 USD
CY2021 us-gaap Lease Cost
LeaseCost
51333000 USD
CY2020 us-gaap Lease Cost
LeaseCost
50615000 USD
CY2019 us-gaap Lease Cost
LeaseCost
47068000 USD
CY2021 us-gaap Sublease Income
SubleaseIncome
6900000 USD
CY2020 us-gaap Sublease Income
SubleaseIncome
0 USD
CY2019 us-gaap Sublease Income
SubleaseIncome
0 USD
CY2021Q4 z Lease Incentive
LeaseIncentive
433000 USD
CY2020Q4 z Lease Incentive
LeaseIncentive
18626000 USD
CY2019Q4 z Lease Incentive
LeaseIncentive
0 USD
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
43170000 USD
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
17676000 USD
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
31816000 USD
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
-35719000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
145000 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
128354000 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y6M
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.072
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.065
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.065
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
35340000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
40118000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
36470000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
41700000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
22698000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
22759000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
94085000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
251470000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
80000000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
171470000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
41700000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
41700000 USD
CY2021Q4 z Lessor Operating Lease Payment To Be Received Year Five And Thereafter
LessorOperatingLeasePaymentToBeReceivedYearFiveAndThereafter
41700000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
41700000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
41700000 USD
CY2021Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
4839533000 USD
CY2020Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
2283732000 USD
CY2021Q4 z Capped Call Confirmations Portion Unwound Value Received
CappedCallConfirmationsPortionUnwoundValueReceived
14800000 USD
CY2021Q4 z Capped Call Confirmations Portion Unwound Value Received
CappedCallConfirmationsPortionUnwoundValueReceived
43000000 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1300000 USD
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
4500000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-7500000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4300000 USD
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3851000 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
588000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
304000 USD
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
143000 USD
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
257000 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
99000 USD
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
3994000 USD
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
845000 USD
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
403000 USD
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-2577000 USD
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-7388000 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-1631000 USD
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-302000 USD
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1095000 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-2856000 USD
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
148000 USD
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
115000 USD
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-174000 USD
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2731000 USD
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-8368000 USD
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-4661000 USD
CY2020 z Effective Income Tax Rate Reconciliation Nondeductible Expense Covered Employee Compensation Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseCoveredEmployeeCompensationPercent
-0.023
CY2019 z Effective Income Tax Rate Reconciliation Nondeductible Expense Covered Employee Compensation Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseCoveredEmployeeCompensationPercent
-0.011
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1263000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-7523000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4258000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.058
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.112
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.030
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.170
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.525
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.009
CY2021 z Effective Income Tax Rate Reconciliation Nondeductible Expense Covered Employee Compensation Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseCoveredEmployeeCompensationPercent
-0.017
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.085
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.106
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.072
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.009
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.005
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.010
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.499
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.891
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.286
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.002
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.044
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.014
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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30921000 USD
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80280000 USD
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12968000 USD
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3267000 USD
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273800000 USD
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0 shares
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0 shares
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750000000 USD
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447800000 USD
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<div style="margin-top:10pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes, on a settlement date basis, our Class C capital stock repurchase activity under the Stock Repurchase Program for the period presented (in thousands, except share and per share amounts):</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:75.069%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:22.731%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Year Ended<br/>December 31, 2021</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Shares of Class C capital stock repurchased</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,944,462</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Weighted-average price per share</span></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">61.1186 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total purchase price</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">302,199 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>
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4944462 shares
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302199000 USD
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42.68
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P7Y2M19D
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1751105000 USD
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10290760 shares
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121.71
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38.50
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1291637 shares
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55287000 USD
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6708000 USD
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3080000 USD
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1969000 USD
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55000000 USD
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CY2021Q4 us-gaap Letters Of Credit Outstanding Amount
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16900000 USD
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10100000 USD
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7 patent
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4 petition
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3 patent
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63363000 USD
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1400000 USD

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