ZILLOW GROUP INC
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
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FY2024 · Filed Feb 11, 2025
ZG$29.51-5.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating activities | |||
| Net loss | $(112) | $(158) | $(101) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 240 | 187 | 157 |
| Share-based compensation | 448 | 451 | 451 |
| Amortization of right of use assets | 10 | 35 | 23 |
| Amortization of contract cost assets | 19 | 21 | 30 |
| Amortization of debt discount and debt issuance costs | 4 | 5 | 26 |
| Loss (gain) on extinguishment of debt | 1 | (1) | 21 |
| Impairment and restructuring costs | 6 | 16 | — |
| Accretion of bond discount | (27) | (35) | (18) |
| Other adjustments to reconcile net loss to net cash provided by operating activities | 14 | (2) | 24 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (8) | (24) | 82 |
| Mortgage loans held for sale | (59) | (59) | 66 |
| Inventory | — | — | 3,904 |
| Prepaid expenses and other assets | (74) | (17) | 6 |
| Contract cost assets | (21) | (21) | (18) |
| Lease liabilities | (35) | (30) | (21) |
| Accounts payable | 2 | 6 | 3 |
| Accrued expenses and other current liabilities | — | (18) | (71) |
| Accrued compensation and benefits | 10 | (1) | (60) |
| Deferred revenue | 8 | 1 | (7) |
| Other long-term liabilities | 2 | (2) | 7 |
| Net cash provided by operating activities | 428 | 354 | 4,504 |
| Investing activities | |||
| Proceeds from maturities of investments | 1,042 | 1,287 | 802 |
| Proceeds from sales of investments | 237 | — | — |
| Purchases of investments | (706) | (664) | (2,191) |
| Purchases of property and equipment | (143) | (135) | (115) |
| Purchases of intangible assets | (28) | (30) | (25) |
| Cash paid for acquisitions, net | (7) | (433) | (4) |
| Net cash provided by (used in) investing activities | 395 | 25 | (1,533) |
| Financing activities | |||
| Repayments of borrowings on credit facilities | — | — | (2,206) |
| Net borrowings (repayments) on warehouse line of credit and repurchase agreements | 52 | 56 | (76) |
| Repurchases of Class A common stock and Class C capital stock | (301) | (424) | (947) |
| Settlement of long-term debt | (1,196) | (56) | (1,158) |
| Proceeds from exercise of stock options | 212 | 72 | 46 |
| Net cash used in financing activities | (1,233) | (352) | (4,341) |
| Net increase (decrease) in cash, cash equivalents and restricted cash during period | (410) | 27 | (1,370) |
| Cash, cash equivalents and restricted cash at beginning of period | 1,495 | 1,468 | 2,838 |
| Cash, cash equivalents and restricted cash at end of period | $1,085 | $1,495 | $1,468 |
| Supplemental disclosures of cash flow information | |||
| Cash paid for interest | $35 | $28 | $50 |
| Cash paid for taxes | 6 | 6 | 6 |
| Noncash transactions: | |||
| Write-off of fully depreciated property and equipment | $85 | $63 | $53 |
| Capitalized share-based compensation | 72 | 73 | 51 |
| Write-off of fully amortized intangible assets | 24 | 5 | 203 |
| Initial fair value of contingent consideration recognized in connection with an acquisition | — | 81 | — |
| Value of Class C capital stock issued in connection with an acquisition | — | 20 | — |
| Settlement of beneficial interests in securitizations | — | — | (79) |
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