v3.24.0.1
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Summary of Stock Options and SAR Activity
A summary of stock option and SAR activity for the year ended December 31, 2023 is as follows (in millions, except share amounts which are reflected in thousands, per share amounts, and years):
SARs Outstanding Number of SARsOptions Outstanding Number of SharesWeighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Life (in years)Aggregate Intrinsic Value
As of December 31, 2022153 20,039 $13.90 3.47$279 
Granted— 607 $36.63 
Exercised(29)(7,753)$5.77 
Canceled and forfeited(1)(252)$6.36 
As of December 31, 2023123 12,641 $20.03 2.79$535 
Vested and expected to vest as of December 31, 2023118 8,319 $13.41 2.43$406 
Exercisable as of December 31, 2023118 8,319 $13.41 2.43$406 
Schedule of Restricted Stock Units Activity
The following table summarizes the activity related to our RSUs for the year ended December 31, 2023 (in thousands, except per share amounts):
Number of SharesWeighted-Average
 Grant-Date Fair
 Value per Share
Unvested and outstanding as of December 31, 202298,167 $34.70 
Granted61,119 $34.13 
Vested(53,105)$34.43 
Canceled and forfeited(15,354)$34.47 
Unvested and outstanding as of December 31, 202390,827 $34.49 
Schedule of Stock-Based Compensation Expense by Function The following table summarizes total stock-based compensation expense by function for the years ended December 31, 2021, 2022 and 2023 (in millions):
Year Ended December 31,
202120222023
Operations and support$139 $154 $184 
Sales and marketing83 102 96 
Research and development614 1,060 1,215 
General and administrative332 477 440 
Total$1,168 $1,793 $1,935 
Schedule of Weighted Average Assumptions The fair value of stock options and SARs granted was determined using the Black-Scholes option-pricing model using the weighted-average assumptions in the table below:
Year Ended December 31, 2021
Expected term (in years)5.1
Risk-free interest rate0.9 %
Expected volatility40.3 %
Expected dividend yield— %