Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net earnings (loss) $ (1,020) $ 46 $ 38
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:      
Depreciation and amortization 87 97 150
Stock-based compensation 99 93 125
Realized and unrealized (gains) losses on financial instruments, net 32 (62) (251)
Impairment of goodwill and intangible assets (note 4) 1,025    
Deferred income tax expense (benefit) (87) (20) (49)
Other charges (credits), net 31 30 28
Changes in operating assets and liabilities      
Current and other assets 26 (14) (30)
Payables and other liabilities 33 220 86
Net cash provided (used) by operating activities 226 390 97
Cash flows from investing activities:      
Capital expended for property and equipment, including capitalized website development (63) (56) (54)
Other investing activities, net   4  
Net cash provided (used) by investing activities (63) (52) (54)
Cash flows from financing activities:      
Borrowings of debt   9 675
Repurchase of Series A Preferred Stock     (281)
Shares repurchased by subsidiary (note 9) (100)    
Payment of withholding taxes on net share settlements of equity awards (17) (20) (44)
Subsidiary purchase of capped calls     (35)
Other financing activities, net (10) (11) (9)
Net cash provided (used) by financing activities (127) (22) 306
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash 1 (23) (12)
Net increase (decrease) in cash, cash equivalents and restricted cash 37 293 337
Cash, cash equivalents and restricted cash at beginning of period 1,053 760 423
Cash, cash equivalents and restricted cash at end of period 1,090 1,053 760
Cash paid for interest 41 41 44
Cash paid (received) for income taxes $ (140) $ (41) $ 4