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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net loss $ (527,777) $ (162,115) $ (305,361)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 129,780 110,031 87,467
Share-based compensation 311,686 197,550 198,902
Amortization of right of use assets 22,705 24,338 23,142
Amortization of contract cost assets 41,577 36,494 35,323
Amortization of debt discount and debt issuance costs 104,437 102,401 52,097
Gain (loss) on extinguishment of debt 17,119 (1,448) 0
Impairment and restructuring costs 56,828 76,800 0
Inventory valuation adjustment 407,921 0 0
Deferred income taxes (2,746) (7,523) (4,258)
Other adjustments to reconcile net loss to cash provided by (used in) operating activities 15,249 4,761 3,602
Changes in operating assets and liabilities:      
Accounts receivable (82,312) (5,585) (3,694)
Mortgage loans held for sale 223,990 (294,251) (1,098)
Inventory (3,826,713) 345,277 (673,798)
Prepaid expenses and other assets (81,614) (15,957) (978)
Contract cost assets (26,323) (42,004) (34,713)
Lease liabilities (29,276) (2,149) (18,940)
Accounts payable 4,699 12,972 (496)
Accrued expenses and other current liabilities 61,462 15,321 19,573
Accrued compensation and benefits 13,203 9,861 6,417
Deferred revenue 789 9,248 5,667
Other long-term liabilities (11,378) 10,175 (1,028)
Net cash provided by (used in) operating activities (3,176,694) 424,197 (612,174)
Investing activities      
Proceeds from maturities of investments 2,206,344 2,230,705 1,126,058
Proceeds from sales of investments 0 116,394 0
Purchases of investments (516,346) (3,287,071) (1,495,477)
Purchases of property and equipment (73,305) (84,940) (67,044)
Purchases of intangible assets (31,094) (23,577) (19,591)
Proceeds from sale of equity investment 0 10,000 0
Cash paid for acquisition, net (497,320) 0 0
Net cash provided by (used in) investing activities 1,088,279 (1,038,489) (456,054)
Financing activities      
Proceeds from issuance of convertible senior notes, net of issuance costs 0 553,282 1,157,675
Premiums paid for capped call confirmations 0 0 (159,677)
Proceeds from issuance of Class C capital stock, net of issuance costs 544,557 411,522 0
Proceeds from issuance of term loan, net of issuance costs 1,138,227 0 0
Proceeds from borrowings on credit facilities 3,618,299 348,684 688,489
Repayments of borrowings on credit facilities (1,779,869) (679,042) (113,665)
Net borrowings (repayments) on warehouse lines of credit and repurchase agreements (197,083) 278,616 (2,590)
Repurchases of Class C capital stock (302,297) 0 0
Settlement of convertible senior notes (1,297) (194,768)
Proceeds from exercise of stock options 127,222 444,028 65,465
Value of equity awards withheld for tax liability (129) (4) (3)
Net cash provided by financing activities 3,147,630 1,162,318 1,635,694
Net increase in cash, cash equivalents and restricted cash during period 1,059,215 548,026 567,466
Cash, cash equivalents and restricted cash at beginning of period 1,778,935 1,230,909 663,443
Cash, cash equivalents and restricted cash at end of period 2,838,150 1,778,935 1,230,909
Supplemental disclosures of cash flow information      
Cash paid for interest 108,928 50,755 42,156
Noncash transactions:      
Beneficial interests in securitizations 63,289 0 0
Write-off of fully amortized intangible assets 57,995 62,622 9,999
Write-off of fully depreciated property and equipment 48,626 115,086 36,159
Capitalized share-based compensation 30,372 16,557 11,947
Property and equipment purchased on account $ 1,357 $ 335 $ 8,775