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Leases (Tables)

12 Months Ended

Dec. 31, 2022

The following table presents a summary of leases by balance sheet location as of the dates indicated (in millions):


		December 31,
	Balance Sheet Location	2022		2021
Assets
Operating	Operating lease right-of-use (“ROU”) assets	$	513	$	289

Liabilities
Operating - current	Accrued expenses and other current liabilities	$	131	$	150
Operating - noncurrent	Operating lease liabilities	418		200
Total lease liabilities		$	549	$	350

The following table presents components of lease expense for the periods indicated (in millions):


		Year Ended December 31,
	Statement of Income Location	2022		2021		2020
Operating lease costs (1)	Cost of net revenues, Sales and marketing, Product development and General and administrative expenses	$	132	$	178	$	160

(1)Includes variable lease payments and sublease income that were immaterial for the years ended December 31, 2022, 2021 and 2020.

The following table presents supplemental information related to our leases included in the consolidated balance sheet as of the dates indicated:


	December 31,
	2022		2021
Weighted average remaining lease term
Operating leases	5.15 years		3.11 years

Weighted average discount rate
Operating leases	3.60	%	2.06	%

The following table presents supplemental information related to our leases for the periods indicated (in millions):


	Year Ended December 31,
	2022		2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	159	$	165	$	145

ROU assets obtained in exchange for new lease obligations:
Operating leases	$	354	$	38	$	84

The following table presents the maturity of lease liabilities under our non-cancelable operating leases as of the date indicated (in millions):


	December 31, 2022
2023	$	148
2024	115
2025	102
2026	87
2027	83
Thereafter	67
Total lease payments	602
Less interest	(53)
Present value of lease liabilities	$	549