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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net loss $ (208,151) $ (204,151)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 81,977 63,888
Share-based compensation expense 145,105 151,884
Amortization of right of use assets 18,364 16,710
Amortization of contract cost assets 26,554 26,722
Amortization of discount and issuance costs on convertible senior notes maturing in 2021, 2023, 2024, 2025 and 2026 75,414 29,868
Gain on partial extinguishment of 2021 Notes (6,391) 0
Impairment costs 76,800 0
Deferred income taxes (8,124) (3,800)
Loss (gain) on disposal of property and equipment and other assets (1,032) 5,755
Credit loss expense 1,846 1,894
Net loss (gain) on investment securities 372 (11)
Accretion of bond discount (238) (5,241)
Changes in operating assets and liabilities:    
Accounts receivable (14,483) (13,485)
Mortgage loans held for sale (88,817) (1,353)
Inventory 643,265 (716,524)
Prepaid expenses and other assets (16,385) (5,848)
Contract cost assets (31,833) (26,950)
Lease liabilities 4,773 (15,029)
Accounts payable 12,239 2,999
Accrued expenses and other current liabilities 14,499 12,241
Accrued compensation and benefits (2,331) 2,152
Deferred revenue 9,406 7,875
Other long-term liabilities 17,329 122
Net cash provided by (used in) operating activities 750,158 (670,282)
Investing activities    
Proceeds from maturities of investments 1,160,271 859,142
Proceeds from sales of investments 116,394 0
Purchases of investments (1,881,002) (479,963)
Purchases of property and equipment (72,420) (45,140)
Purchases of intangible assets (17,226) (15,123)
Proceeds from sale of equity investment 10,000 0
Net cash provided by (used in) investing activities (683,983) 318,916
Financing activities    
Proceeds from issuance of convertible notes, net of issuance costs 553,282 1,085,686
Premiums paid for capped call confirmations 0 (150,530)
Proceeds from Issuance of Common Stock 411,522 0
Partial extinguishment of 2021 Notes (194,670) 0
Proceeds from borrowings on credit facilities 97,437 581,580
Repayments of borrowings on credit facilities (674,658) 0
Net borrowings (repayments) on warehouse lines of credit and repurchase agreement 87,667 (2,902)
Proceeds from exercise of stock options 371,226 41,014
Value of equity awards withheld for tax liability (2) (3)
Net cash provided by financing activities 651,804 1,554,845
Net increase in cash, cash equivalents and restricted cash during period 717,979 1,203,479
Cash, cash equivalents and restricted cash at beginning of period 1,230,909 663,443
Cash, cash equivalents and restricted cash at end of period 1,948,888 1,866,922
Supplemental disclosures of cash flow information    
Cash paid for interest 36,787 25,837
Noncash transactions:    
Capitalized share-based compensation 13,020 8,942
Write-off of fully depreciated property and equipment 13,100 28,951
Write-off of fully amortized intangible assets 0 9,959
Property and equipment purchased on account $ 1,645 $ 4,606