Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:      
Net earnings (loss) $ (665) $ (44) $ (703)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities      
Depreciation and amortization 42 76 85
Stock-based compensation   63 52
Realized and unrealized (gains) losses on financial instruments, net 2 (107)  
Impairment of goodwill and intangible assets 547   547
Deferred income tax expense (benefit)   (29) (59)
Other charges (credits), net   (10) 31
Changes in operating assets and liabilities      
Current and other assets   (57) 71
Payables and other liabilities   209 (187)
Net cash provided (used) by operating activities   101 (163)
Cash flows from investing activities:      
Capital expended for property and equipment, including internal-use software and website development   (25) (36)
Other investing activities, net   (1) 1
Net cash provided (used) by investing activities   (26) (35)
Cash flows from financing activities:      
Borrowings of debt   675 740
Repayments of debt     (352)
Repurchase of Series A Preferred Stock   (281)  
Shares repurchased by subsidiary     (115)
Payment of withholding taxes on net share settlements of equity awards   (29) (17)
Issuance of redeemable preferred stock     325
Subsidiary purchase of capped calls   (35)  
Other financing activities, net   (6) (15)
Net cash provided (used) by financing activities   324 566
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash   (4)  
Net increase (decrease) in cash, cash equivalents and restricted cash   395 368
Cash, cash equivalents and restricted cash at beginning of period   423 341
Cash, cash equivalents and restricted cash at end of period $ 709 $ 818 $ 709