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Leases (Tables)

12 Months Ended

Dec. 31, 2023

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


		December 31,
	Balance Sheet Location	2023		2022
Assets
Operating	Operating lease right-of-use (“ROU”) assets	$	493	$	513

Liabilities
Operating - current	Accrued expenses and other current liabilities	$	118	$	131
Operating - noncurrent	Operating lease liabilities	387		418
Total lease liabilities		$	505	$	549

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


		Year Ended December 31,
	Statement of Income Location	2023		2022		2021
Operating lease costs (1)	Cost of net revenues, Sales and marketing, Product development and General and administrative expenses	$	128	$	132	$	178

(1)Includes variable lease payments and sublease income that were immaterial for the years ended December 31, 2023, 2022 and 2021.

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


	December 31,
	2023		2022
Weighted average remaining lease term
Operating leases	4.80 years		5.15 years

Weighted average discount rate
Operating leases	4.00	%	3.60	%

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


	Year Ended December 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	154	$	159	$	165

ROU assets obtained in exchange for new lease obligations:
Operating leases	$	102	$	354	$	38

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


	December 31, 2023
2024	$	136
2025	119
2026	105
2027	86
2028	61
Thereafter	60
Total lease payments	567
Less interest	(62)
Present value of lease liabilities	$	505