3 unchanged sentences
(In millions, except par value)
+Added: September 30,
2024 December 31,
15 unchanged sentences
Deferred revenues 971.0 931.1
+Added: Current senior notes 299.7 —
Total current liabilities 1,526.2 1,188.5
Long-term deferred revenues 328.0 315.0
−Removed: Senior notes 1,791.3 1,790.2
+Added: Long-term senior notes 1,492.2 1,790.2
Long-term tax and other liabilities 16.2 36.3
9 unchanged sentences
Issued shares:
−Removed: 355.1 at June 30, 2024 and 354.9 at December 31, 2023;
+Added: 355.2 at September 30, 2024 and 354.9 at December 31, 2023;
Outstanding shares:
−Removed: 98.0 at June 30, 2024 and 101.3 at December 31, 2023
+Added: 96.4 at September 30, 2024 and 101.3 at December 31, 2023
10,894.0 11,808.0
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,
2024 2023 2024 2023
11 unchanged sentences
Net income 201.3 188.5 594.2 552.9
−Removed: Other comprehensive loss — ( 0.7 ) ( 0.2 ) ( 0.7 )
+Added: Other comprehensive income (loss) 0.4 0.4 0.2 ( 0.3 )
Comprehensive income $ 201.7 $ 188.9 $ 594.4 $ 552.6
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,
2024 2023 2024 2023
13 unchanged sentences
Beginning balance ( 2.8 ) ( 3.4 ) ( 2.6 ) ( 2.7 )
−Removed: Other comprehensive loss — ( 0.7 ) ( 0.2 ) ( 0.7 )
+Added: Other comprehensive income (loss) 0.4 0.4 0.2 ( 0.3 )
Balance, end of period ( 2.4 ) ( 3.0 ) ( 2.4 ) ( 3.0 )
4 unchanged sentences
(In millions)
−Removed: Six Months Ended June 30,
+Added: Nine Months Ended September 30,
Cash flows from operating activities:
15 unchanged sentences
Purchases of property and equipment ( 18.6 ) ( 40.8 )
−Removed: Net cash provided by investing activities 246.5 11.5
+Added: Net cash provided by (used in) investing activities 307.0 ( 201.5 )
Cash flows from financing activities:
36 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, 2024 are scheduled to mature in less than one year.
+Added: All of the debt securities held as of September 30, 2024 are scheduled to mature in less than one year.
Fair Value Measurements
6 unchanged sentences
The fair value of all of these financial instruments are classified as Level 1 in the fair value hierarchy.
−Removed: As of June 30, 2024, the Company’s other financial instruments include cash, accounts receivable, restricted cash, and accounts payable whose carrying values approximated their face values.
−Removed: The aggregate fair value of the Company’s senior notes is $ 1.67 billion and $ 1.69 billion as of June 30, 2024 and December 31, 2023, respectively.
+Added: As of September 30, 2024, the Company’s other financial instruments include cash, accounts receivable, restricted cash, and accounts payable whose carrying values approximated their face values.
+Added: The aggregate fair value of the Company’s current and long-term senior notes is $ 1.71 billion and $ 1.69 billion as of September 30, 2024 and December 31, 2023, 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)
9 unchanged sentences
Accounts payable and accrued liabilities consist of the following:
−Removed: June 30, December 31,
+Added: September 30, December 31,
(In millions)
5 unchanged sentences
Accrued registry fees 13.0 12.3
−Removed: Current operating lease liabilities 6.0 5.1
Customer incentives payable 6.9 6.5
+Added: Current operating lease liabilities 5.8 5.1
Foreign currency forward contracts 0.3 10.7
1 unchanged sentence
Total accounts payable and accrued liabilities $ 255.5 $ 257.4
−Removed: The balance of customer deposits varies from period to period due to the timing of payments from certain large customers.
Taxes payable reflects amounts accrued for the income tax provision and payments made during the period.
1 unchanged sentence
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, 2023 was paid during the six months ended June 30, 2024.
−Removed: The liability related to the unrealized loss on foreign currency forward contracts as of December 31, 2023 was remeasured and paid upon settlement of the forward contract during the six months ended June 30, 2024.
+Added: Accrued employee incentive compensation as of December 31, 2023 was paid during the nine months ended September 30, 2024.
+Added: Interest payable varies at each period-end based on the payment due dates for each senior note issuance.
+Added: The liability related to the unrealized loss on foreign currency forward contracts as of December 31, 2023 was remeasured and paid upon settlement of the forward contract during the nine months ended September 30, 2024.
+Added: Current and long-term senior notes as of September 30, 2024 reflects the classification of $ 299.7 million of the Company’s $ 500.0 million senior notes due April 1, 2025 (“2025 Senior Notes”), net of unamortized debt issuance costs, as current liabilities, and the remaining $ 200.0 million as long-term liabilities.
+Added: Under existing market conditions, the Company intends to refinance all of its 2025 Senior Notes through the issuance of new long-term debt.
+Added: As of September 30, 2024, the Company has $ 200.0 million in borrowing capacity under its credit facility which matures in 2028.
+Added: If a suitable refinancing arrangement is not available due to a change in market conditions, the Company intends to utilize the credit facility to repay $ 200.0 million of the 2025 Senior Notes.
Long-term Tax and Other Liabilities
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 $ 16.2 $ 36.3
−Removed: Long-term tax liabilities as of June 30, 2024 reflects a $24.1 million reclassification to current liabilities of the final 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, 2024 reflects a $ 24.1 million reclassification to current liabilities of the final installment of the transition tax liability on accumulated foreign earnings resulting from the 2017 Tax Cuts and Jobs Act.
Share Repurchases
−Removed: Effective July 27, 2023, the Company’s Board of Directors authorized the repurchase of its common stock in the amount of $ 1.14 billion, in addition to the $ 356.1 million that remained available for repurchases under the share repurchase program, for a total authorization of up to $ 1.50 billion under the program.
+Added: Effective July 25, 2024, the Company’s Board of Directors authorized the repurchase of its common stock in the amount of $ 1.11 billion, in addition to the $ 388.0 million that remained available for repurchases under the share repurchase program, for a total repurchase authorization of up to $ 1.50 billion under the program.
The program has no expiration date.
Purchases made under the program could be effected through open market transactions, block purchases, accelerated share repurchase agreements or other negotiated transactions.
−Removed: As of June 30, 2024 there was approximately $ 471.6 million remaining available for repurchases under the program.
−Removed: Effective July 25, 2024, the Company’s Board of Directors authorized the repurchase of its common stock in the amount of $ 1.11 billion, in addition to the $ 388.0 million that remained available for repurchases under the share repurchase program, for a total repurchase authorization of up to $ 1.50 billion under the program.
−Removed: The Company’s share repurchases are as following.
−Removed: Amounts may not add up due to rounding:
−Removed: Three Months Ended June 30, 2024 Six Months Ended June 30, 2024
+Added: As of September 30, 2024 there was approximately $ 1.28 billion remaining available for repurchases under the program.
+Added: The Company’s share repurchases are as follows:
+Added: Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024
Shares Total Costs Average Price Shares Total Costs Average Price
7 unchanged sentences
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,
2024 2023 2024 2023
10 unchanged sentences
The following table presents the Company’s 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,
2024 2023 2024 2023
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, 2024 was primarily driven by amounts billed in the six months ended June 30, 2024 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 $ 606.7 million of revenues recognized that were included in the deferred revenues balance at December 31, 2023.
−Removed: The balance of deferred revenues as of June 30, 2024 represents our aggregate remaining performance obligations.
+Added: The increase in the deferred revenues balance for the nine months ended September 30, 2024 was primarily driven by amounts billed in the nine months ended September 30, 2024 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 $ 791.1 million of revenues recognized that were included in the deferred revenues balance at December 31, 2023.
+Added: The balance of deferred revenues as of September 30, 2024 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,
2024 2023 2024 2023
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,
2024 2023 2024 2023
6 unchanged sentences
Non-operating income, net, primarily consists of interest income from the Company’s surplus cash balances and marketable securities.
−Removed: Interest income was $ 9.7 million and $ 21.7 million during the three and six months ended June 30, 2024, respectively, compared to $ 11.5 million and $ 22.2 million during the same periods in 2023.
+Added: Interest income was $ 8.7 million and $ 30.4 million during the three and nine months ended September 30, 2024, respectively, compared to $ 11.6 million and $ 33.8 million during the same periods in 2023.
+Added: The decrease in interest income during the three and nine months ended September 30, 2024, compared to the same periods last year, primarily reflects the lower amounts invested in debt securities in the current periods.
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,
2024 2023 2024 2023
5 unchanged sentences
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.