3 unchanged sentences
(In millions, except par value)
+Added: September 30,
2022 December 31,
29 unchanged sentences
Issued shares:
−Removed: 354.4 at June 30, 2022 and 354.2 at December 31, 2021;
+Added: 354.5 at September 30, 2022 and 354.2 at December 31, 2021;
Outstanding shares:
−Removed: 107.8 at June 30, 2022 and 110.5 at December 31, 2021
+Added: 106.3 at September 30, 2022 and 110.5 at December 31, 2021
12,843.8 13,620.1
7 unchanged sentences
(In millions, except per share data)
−Removed: Three Months Ended June 30, Six Months Ended June 30,
+Added: Three Months Ended September 30, Nine Months Ended September 30,
2022 2021 2022 2021
11 unchanged sentences
Net income 169.5 156.6 494.3 454.7
−Removed: Other comprehensive income (loss) 0.1 ( 0.1 ) ( 0.1 ) ( 0.1 )
+Added: Other comprehensive income 0.2 0.1 0.1 —
Comprehensive income $ 169.7 $ 156.7 $ 494.4 $ 454.7
9 unchanged sentences
(In millions)
−Removed: Three Months Ended June 30, Six Months Ended June 30,
+Added: Three Months Ended September 30, Nine Months Ended September 30,
2022 2021 2022 2021
12 unchanged sentences
Beginning balance ( 2.9 ) ( 2.9 ) ( 2.8 ) ( 2.8 )
−Removed: Other comprehensive income (loss) 0.1 ( 0.1 ) ( 0.1 ) ( 0.1 )
+Added: Other comprehensive income 0.2 0.1 0.1 —
Balance, end of period ( 2.7 ) ( 2.8 ) ( 2.7 ) ( 2.8 )
4 unchanged sentences
(In millions)
−Removed: Six Months Ended June 30,
+Added: Nine Months Ended September 30,
Cash flows from operating activities:
44 unchanged sentences
The following table summarizes the Company’s cash, cash equivalents, and marketable securities and the fair value categorization of the financial instruments measured at fair value on a recurring basis:
−Removed: June 30, December 31,
+Added: September 30, December 31,
(In millions)
11 unchanged sentences
The gross and net unrealized gains and losses included in the fair value of the debt securities were not significant for the periods presented.
−Removed: All of the debt securities held as of June 30, 2022 are scheduled to mature in less than one year.
+Added: All of the debt securities held as of September 30, 2022 are scheduled to mature in less than one year.
Fair Value Measurements
6 unchanged sentences
The Company’s other financial instruments include cash, accounts receivable, restricted cash, and accounts payable.
−Removed: As of June 30, 2022, the carrying value of these financial instruments approximated their fair value.
−Removed: The fair values of the senior notes due 2025, 2027, and 2031 were $ 505.4 million, $ 538.8 million, and $ 604.3 million, respectively, as of June 30, 2022.
+Added: As of September 30, 2022, the carrying value of these financial instruments approximated their fair value.
+Added: The aggregate fair value of the Company’s senior notes is $ 1.62 billion and $ 1.88 billion as of September 30, 2022 and December 31, 2021, respectively.
The fair values of these debt instruments are based on available market information from public data sources and are classified as Level 2.
2 unchanged sentences
Other current assets consist of the following:
−Removed: June 30, December 31,
+Added: September 30, December 31,
(In millions)
7 unchanged sentences
Other long-term assets consist of the following:
−Removed: June 30, December 31,
+Added: September 30, December 31,
(In millions)
−Removed: Operating lease right-of-use asset $ 8.7 $ 8.4
Long-term prepaid registry fees $ 9.5 $ 8.7
+Added: Operating lease right-of-use asset 8.5 8.4
Long-term prepaid expenses 7.3 11.0
4 unchanged sentences
com domain name registrations and renewals which are deferred and amortized over the domain name registration term.
−Removed: The amount of prepaid registry fees as of June 30, 2022 reflects amortization of $ 9.9 million and $ 19.7 million during the three and six months ended June 30, 2022 which was recorded in Cost of Revenues.
+Added: The amount of prepaid registry fees as of September 30, 2022 reflects amortization of $ 9.9 million and $ 29.6 million during the three and nine months ended September 30, 2022 which was recorded in Cost of Revenues.
Accounts Payable and Accrued Liabilities
Accounts payable and accrued liabilities consist of the following:
−Removed: June 30, December 31,
+Added: September 30, December 31,
(In millions)
10 unchanged sentences
Accrued employee compensation primarily consists of liabilities for employee leave, salaries, payroll taxes, employee contributions to the employee stock purchase plan, and incentive compensation.
−Removed: Accrued employee incentive compensation as of December 31, 2021 was paid during the six months ended June 30, 2022.
+Added: Accrued employee incentive compensation as of December 31, 2021 was paid during the nine months ended September 30, 2022.
Customer incentives payable includes amounts related to rebates payable to registrars.
2 unchanged sentences
Long-term tax and other liabilities consist of the following:
−Removed: June 30, December 31,
+Added: September 30, December 31,
(In millions)
2 unchanged sentences
Long-term tax and other liabilities $ 64.9 $ 78.6
−Removed: Long-term tax liabilities as of June 30, 2022 reflects a $ 14.5 million reclassification from long-term to current of the next installment of the transition tax liability on accumulated foreign earnings resulting from the 2017 Tax Cuts and Jobs Act.
+Added: Long-term tax liabilities as of September 30, 2022 reflects a $ 14.5 million reclassification from long-term to current of the next installment of the transition tax liability on accumulated foreign earnings resulting from the 2017 Tax Cuts and Jobs Act.
Stockholders’ Deficit
2 unchanged sentences
Purchases made under the program could be effected through open market transactions, block purchases, accelerated share repurchase agreements or other negotiated transactions.
−Removed: During the three and six months ended June 30, 2022, the Company repurchased 2.0 million shares and 2.9 million shares of its common stock, respectively, at an average stock price of $ 176.51 and $ 189.58 , respectively.
−Removed: The aggregate cost of the repurchases in the three and six months ended June 30, 2022 was $ 349.5 million and $ 545.0 million, respectively.
−Removed: As of June 30, 2022, there was $ 543.1 million remaining available for future share repurchases under the share repurchase program.
−Removed: During the six months ended June 30, 2022, the Company placed less than 0.1 million shares, at an average stock price of $ 203.78 , and for an aggregate cost of $ 11.2 million, into treasury stock for purposes related to tax withholding upon vesting of Restricted Stock Units (“RSUs”).
+Added: During the three and nine months ended September 30, 2022, the Company repurchased 1.5 million shares and 4.4 million shares of its common stock, respectively, at an average stock price of $ 180.59 and $ 186.46 , respectively.
+Added: The aggregate cost of the repurchases in the three and nine months ended September 30, 2022 was $ 275.5 million and $ 820.4 million, respectively.
+Added: As of September 30, 2022, there was $ 267.6 million remaining available for future share repurchases under the share repurchase program.
+Added: Effective October 27, 2022, the Company’s Board of Directors authorized the repurchase of its common stock in the amount of $ 803.0 million, in addition to the $ 197.0 million that remained available for repurchases under the share repurchase program, for a total repurchase authorization of up to $ 1.00 billion under the program.
+Added: During the nine months ended September 30, 2022, the Company placed less than 0.1 million shares, at an average stock price of $ 203.57 , and for an aggregate cost of $ 13.6 million, into treasury stock for purposes related to tax withholding upon vesting of Restricted Stock Units (“RSUs”).
Since inception, the Company has repurchased 248.1 million shares of its common stock for an aggregate cost of $ 12.54 billion, which is presented as a reduction of Additional paid-in capital.
1 unchanged sentence
The following table presents the computation of weighted-average shares used in the calculation of basic and diluted earnings per share:
−Removed: Three Months Ended June 30, Six Months Ended June 30,
+Added: Three Months Ended September 30, Nine Months Ended September 30,
2022 2021 2022 2021
10 unchanged sentences
The following table presents our revenues disaggregated by geography, based on the billing addresses of our customers:
−Removed: Three Months Ended June 30, Six Months Ended June 30,
+Added: Three Months Ended September 30, Nine Months Ended September 30,
2022 2021 2022 2021
11 unchanged sentences
As payments for domain name registrations and renewals are due in advance of our performance, we record these amounts as deferred revenues.
−Removed: The increase in the deferred revenues balance for the six months ended June 30, 2022 was primarily driven by amounts billed in the six months ended June 30, 2022 for domain name registrations and renewals to be recognized as revenues in future periods, offset by refunds for domain name renewals deleted during the 45-day grace period, and $ 549.5 million of revenues recognized that were included in the deferred revenues balance at the beginning of the period.
−Removed: The balance of deferred revenues as of June 30, 2022 represents our aggregate remaining performance obligations.
+Added: The increase in the deferred revenues balance for the nine months ended September 30, 2022 was primarily driven by amounts billed in the nine months ended September 30, 2022 for domain name registrations and renewals to be recognized as revenues in future periods, offset by refunds for domain name renewals deleted during the 45-day grace period, and $ 719.6 million of revenues recognized that were included in the deferred revenues balance at the beginning of the period.
+Added: The higher deferred revenue balance as of September 30, 2022 also reflects an increase in the volume of early renewal transactions that occurred before the .com price increase became effective on September 1, 2022.
+Added: The balance of deferred revenues as of September 30, 2022 represents our aggregate remaining performance obligations.
Amounts included in current deferred revenues are all expected to be recognized in revenues within 12 months, except for a portion of deferred revenues that relates to domain name renewals that are deleted in the 45-day grace period following the transaction.
3 unchanged sentences
The following table presents the classification of stock-based compensation:
−Removed: Three Months Ended June 30, Six Months Ended June 30,
+Added: Three Months Ended September 30, Nine Months Ended September 30,
2022 2021 2022 2021
7 unchanged sentences
The following table presents the nature of the Company’s total stock-based compensation:
−Removed: Three Months Ended June 30, Six Months Ended June 30,
+Added: Three Months Ended September 30, Nine Months Ended September 30,
2022 2021 2022 2021
5 unchanged sentences
The following table presents Income tax expense and the effective tax rate:
−Removed: Three Months Ended June 30, Six Months Ended June 30,
+Added: Three Months Ended September 30, Nine Months Ended September 30,
2022 2021 2022 2021
4 unchanged sentences
taxes on foreign earnings, net of foreign tax credits, offset by a lower foreign effective tax rate.
−Removed: The effective tax rate in the three and six months ended June 30, 2022 reflects an increased foreign effective tax rate primarily as a result of the transfer of intellectual property between certain non-U.S.
+Added: The effective tax rate in the three and nine months ended September 30, 2022 reflects an increased foreign effective tax rate primarily as a result of the transfer of intellectual property between certain non-U.S.
subsidiaries that took place in the fourth quarter of 2021.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.