GODADDY INC., 10-K filed on 2/19/2021
Annual Report
v3.20.4
Cover Page - USD ($)
 12 Months Ended
Dec. 31, 2020
Feb. 12, 2021
Jun. 30, 2020
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2020    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-36904    
Entity Registrant Name GoDaddy Inc.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 46-5769934    
Entity Address, Address Line One 14455 N. Hayden Road    
Entity Address, City or Town Scottsdale    
Entity Address, State or Province AZ    
Entity Address, Postal Zip Code 85260    
City Area Code 480    
Local Phone Number 505-8800    
Title of 12(b) Security Class A Common Stock, par value $0.001 per share    
Trading Symbol GDDY    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 12,208,091,402
Documents Incorporated by Reference Portions of the registrant's Definitive Proxy Statement relating to the Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the registrant's fiscal year ended December 31, 2020.    
Amendment Flag false    
Entity Central Index Key 0001609711    
Document Fiscal Year Focus 2020    
Document Fiscal Period Focus FY    
Class A Common Stock      
Document Information [Line Items]      
Entity Common Stock, Shares Outstanding   169,576,674  
Class B Common Stock      
Document Information [Line Items]      
Entity Common Stock, Shares Outstanding   499,962  
v3.20.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 765.2 $ 1,062.8
Short-term investments 0.0 23.6
Accounts and other receivables 41.8 30.2
Registry deposits 31.1 27.2
Prepaid domain name registry fees 392.4 382.6
Prepaid expenses and other current assets 60.8 48.9
Total current assets 1,291.3 1,575.3
Property and equipment, net 257.3 258.6
Operating lease assets 142.0 196.6
Prepaid domain name registry fees, net of current portion 176.1 179.3
Goodwill 3,275.1 2,976.5
Intangible assets, net 1,255.1 1,097.7
Other assets 36.0 17.2
Total assets 6,432.9 6,301.2
Current liabilities:    
Accounts payable 51.0 72.3
Accrued expenses and other current liabilities 527.4 366.0
Deferred revenue 1,711.3 1,544.4
Long-term debt 24.3 18.4
Payable pursuant to tax receivable agreements 0.2 0.0
Total current liabilities 2,314.2 2,001.1
Deferred revenue, net of current portion 725.1 654.4
Long-term debt, net of current portion 3,090.1 2,376.8
Operating lease liabilities, net of current portion 166.7 192.9
Payable pursuant to tax receivable agreements, net of current portion 0.0 175.3
Other long-term liabilities 56.6 17.7
Deferred tax liabilities 92.0 100.9
Commitments and contingencies
Stockholders' equity (deficit):    
Preferred stock, $0.001 par value - 50,000 shares authorized; none issued and outstanding 0.0 0.0
Additional paid-in capital 1,308.8 1,003.5
Accumulated deficit (1,190.9) (153.5)
Accumulated other comprehensive loss (131.0) (78.2)
Total stockholders' equity (deficit) attributable to GoDaddy Inc. (12.9) 772.0
Non-controlling interests 1.1 10.1
Total stockholders' equity (deficit) (11.8) 782.1
Total liabilities and stockholders' equity (deficit) 6,432.9 6,301.2
Class A Common Stock    
Stockholders' equity (deficit):    
Common stock 0.2 0.2
Class B Common Stock    
Stockholders' equity (deficit):    
Common stock $ 0.0 $ 0.0
v3.20.4
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2020
Dec. 31, 2019
Preferred stock par value (in dollars per share) $ 0.001 $ 0.001
Preferred stock shares authorized (in shares) 50,000,000 50,000,000
Preferred stock shares issued (in shares) 0 0
Preferred stock outstanding (in shares) 0 0
Class A Common Stock    
Common stock par value (in dollars per share) $ 0.001 $ 0.001
Common stock shares authorized (in shares) 1,000,000,000 1,000,000,000
Common stock shares issued (in shares) 169,157,000 172,867,000
Common stock outstanding (in shares) 169,157,000 172,867,000
Class B Common Stock    
Common stock par value (in dollars per share) $ 0.001 $ 0.001
Common stock shares authorized (in shares) 500,000,000 500,000,000
Common stock shares issued (in shares) 688,000 1,490,000
Common stock outstanding (in shares) 688,000 1,490,000
v3.20.4
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenue:      
Revenue $ 3,316.7 $ 2,988.1 $ 2,660.1
Costs and operating expenses:      
Cost of revenue (excluding depreciation and amortization) [1] 1,158.6 1,026.8 893.9
Technology and development [1] 560.4 492.6 434.0
Marketing and advertising [1] 438.5 345.6 291.4
Customer care [1] 316.9 348.7 323.1
General and administrative [1] 323.8 362.1 334.0
Restructuring charges [1] 43.6 0.0 0.0
Depreciation and amortization [1] 202.7 209.7 234.1
Total costs and operating expenses [1] 3,044.5 2,785.5 2,510.5
Operating income 272.2 202.6 149.6
Interest expense (91.3) (92.1) (98.4)
Loss on debt extinguishment 0.0 (14.8) 0.0
Tax receivable agreements liability adjustment (674.7) 8.7 14.9
Other income (expense), net (1.6) 22.0 6.9
Income (loss) before income taxes (495.4) 126.4 73.0
Benefit for income taxes 1.3 12.0 9.0
Net income (loss) (494.1) 138.4 82.0
Less: net income attributable to non-controlling interests 1.0 1.4 4.9
Net income (loss) attributable to GoDaddy Inc. $ (495.1) $ 137.0 $ 77.1
Class A Common Stock      
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock:      
Basic (in USD per share) $ (2.94) $ 0.79 $ 0.50
Diluted (in USD per share) $ (2.94) $ 0.76 $ 0.45
Weighted-average shares of Class A common stock outstanding:      
Basic (in shares) 168,636 173,431 155,234
Diluted (in shares) 168,636 181,721 181,353
Domains      
Revenue:      
Revenue $ 1,515.1 $ 1,351.6 $ 1,220.3
Hosting and presence      
Revenue:      
Revenue 1,200.6 1,126.5 1,017.6
Business applications      
Revenue:      
Revenue $ 601.0 $ 510.0 $ 422.2
[1]
(1) Costs and operating expenses include equity-based compensation expense as follows:
Cost of revenue$0.7 $0.4 $— 
Technology and development$90.2 $70.3 $57.8 
Marketing and advertising$21.7 $15.4 $10.3 
Customer care$12.0 $9.3 $6.2 
General and administrative$66.9 $51.6 $51.2 
Total equity-based compensation expense$191.5 $147.0 $125.5 
v3.20.4
Consolidated Statements of Operations (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Equity-based compensation expense $ 191.5 $ 147.0 $ 125.5
Cost of revenue      
Equity-based compensation expense 0.7 0.4 0.0
Technology and development      
Equity-based compensation expense 90.2 70.3 57.8
Marketing and advertising      
Equity-based compensation expense 21.7 15.4 10.3
Customer care      
Equity-based compensation expense 12.0 9.3 6.2
General and administrative      
Equity-based compensation expense $ 66.9 $ 51.6 $ 51.2
v3.20.4
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Statement of Comprehensive Income [Abstract]      
Net income (loss) $ (494.1) $ 138.4 $ 82.0
Foreign exchange forward contracts gain (loss), net (17.6) (2.7) 8.9
Unrealized swap gain (loss), net (net of tax effect of $2.2 in 2020) 9.1 0.8 14.2
Change in foreign currency translation adjustment (44.2) 37.7 (5.5)
Comprehensive income (loss) (546.8) 174.2 99.6
Less: comprehensive income attributable to non-controlling interests 1.1 2.2 8.9
Comprehensive income (loss) attributable to GoDaddy Inc. $ (547.9) $ 172.0 $ 90.7
v3.20.4
Consolidated Statements of Comprehensive Income (Loss) (Parenthetical)
$ in Millions
 12 Months Ended
Dec. 31, 2020
USD ($)
Statement of Comprehensive Income [Abstract]  
Unrealized swap gain (loss), tax effect $ 2.2
v3.20.4
Consolidated Statements of Stockholders' Equity (Deficit) - USD ($)
shares in Thousands, $ in Millions
Total
Class A Common Stock
Class B Common Stock
Common Stock
Class A Common Stock
Common Stock
Class B Common Stock
Additional Paid-in Capital
Retained Earnings (Accumulated Deficit)
Accumulated Other Comprehensive Income (Loss)
Non- Controlling Interests
Balance (in shares) at Dec. 31, 2017       132,993 35,006        
Balance at Dec. 31, 2017 $ 546.5     $ 0.1 $ 0.0 $ 484.4 $ 87.7 $ (85.7) $ 60.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 82.0           77.1   4.9
Equity-based compensation, including amounts capitalized $ 125.5         125.5      
Stock option exercises (in shares) 4,779                
Stock option and warrant exercises (in shares)       4,782          
Stock option and warrant exercises $ 67.2     $ 0.1   76.3     (9.2)
Issuances of Class A common stock under employee stock purchase plan (in shares)       469          
Issuances of Class A common stock under employee stock purchase plan 21.9         21.9      
Repurchases of Class A common stock (in shares)   0              
Repurchases of Class A common stock   $ 0.0              
Effect of exchanges of LLC Units (in shares)       28,752 (28,752)        
Exchanges of LLC units 0.0         27.9     (27.9)
Tax receivable agreements liability arising from exchanges (36.2)         (36.2)      
Impact of derivatives, net 23.1             23.1  
Change in foreign currency translation adjustment (5.5)             (5.5)  
Attribution of accumulated other comprehensive income (loss) 0.0             (4.0) 4.0
Vesting of restricted stock units (in shares)       1,553          
Vesting of restricted stock units and other 0.0                
Balance (in shares) at Dec. 31, 2018       168,549 6,254        
Balance at Dec. 31, 2018 824.5     $ 0.2 $ 0.0 699.8 164.8 (72.1) 31.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 138.4           137.0   1.4
Equity-based compensation, including amounts capitalized $ 149.2         149.2      
Stock option exercises (in shares) 3,976     3,976          
Stock option exercises $ 70.7         74.9     (4.2)
Issuances of Class A common stock under employee stock purchase plan (in shares)       508          
Issuances of Class A common stock under employee stock purchase plan 28.5         28.5      
Repurchases of Class A common stock (in shares)   (7,125)   (7,125)          
Repurchases of Class A common stock (458.6) $ (458.6)         (458.6)    
Effect of exchanges of LLC Units (in shares)       4,764 (4,764)        
Exchanges of LLC units 0.0         9.1   (2.6) (6.5)
Tax receivable agreements liability arising from exchanges (9.7)         (9.7)      
Impact of derivatives, net (1.9)             (1.9)  
Change in foreign currency translation adjustment 37.7             37.7  
Attribution of accumulated other comprehensive income (loss) 0.0             (0.8) 0.8
Vesting of restricted stock units (in shares)       2,195          
Vesting of restricted stock units and other 3.3           3.3    
Adjustment to prior period non-controlling interests allocations 0.0         51.7   (38.5) (13.2)
Balance (in shares) at Dec. 31, 2019   172,867 1,490 172,867 1,490        
Balance at Dec. 31, 2019 782.1     $ 0.2 $ 0.0 1,003.5 (153.5) (78.2) 10.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) (494.1)           (495.1) 0.0 1.0
Equity-based compensation, including amounts capitalized $ 193.9         193.9      
Stock option exercises (in shares) 2,613     2,613          
Stock option exercises $ 77.7         79.6     (1.9)
Issuances of Class A common stock under employee stock purchase plan (in shares)       493          
Issuances of Class A common stock under employee stock purchase plan 29.6         29.6      
Repurchases of Class A common stock (in shares)   (9,986)   (9,986)          
Repurchases of Class A common stock (541.7) $ (541.7)         (541.7)   0.0
Effect of exchanges of LLC Units (in shares)       802 (802)        
Exchanges of LLC units 0.0         2.2     (2.2)
Distributions to holders of LLC Units (6.0)               (6.0)
Impact of derivatives, net (8.5)             (8.5)  
Change in foreign currency translation adjustment (44.2)             (44.2)  
Attribution of accumulated other comprehensive income (loss) 0.0             (0.1) 0.1
Vesting of restricted stock units (in shares)       2,368          
Vesting of restricted stock units and other (0.6)           (0.6)    
Balance (in shares) at Dec. 31, 2020   169,157 688 169,157 688        
Balance at Dec. 31, 2020 $ (11.8)     $ 0.2 $ 0.0 $ 1,308.8 $ (1,190.9) $ (131.0) $ 1.1
v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Net income (loss) $ (494.1) $ 138.4 $ 82.0
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 202.7 209.7 234.1
Equity-based compensation 191.5 147.0 125.5
Non-cash restructuring charges 29.0 0.0 0.0
Loss on debt extinguishment 0.0 14.8 0.0
Tax receivable agreements liability adjustment 674.7 (8.7) (14.9)
Other 32.7 32.7 (11.4)
Changes in operating assets and liabilities, net of amounts acquired:      
Registry deposits (2.7) 1.1 6.2
Prepaid domain name registry fees (17.5) (15.1) (15.9)
Accounts payable (20.5) 13.6 (3.4)
Accrued expenses and other current liabilities 22.3 40.4 14.9
Deferred revenue 215.6 179.5 158.0
Other operating assets and liabilities (69.1) (30.0) (15.3)
Net cash provided by operating activities 764.6 723.4 559.8
Investing activities      
Purchases of short-term investments 0.0 (64.1) (24.8)
Maturities of short-term investments 23.7 59.9 18.5
Business acquisitions, net of cash acquired (424.7) (40.3) (147.2)
Purchases of intangible assets (15.0) (4.7) (9.3)
Purchases of property and equipment (66.5) (87.6) (87.7)
Other investing activities, net 0.2 1.5 (4.3)
Net cash used in investing activities (482.3) (135.3) (254.8)
Proceeds received from:      
Issuance of term loans 746.3 0.0 0.0
Issuance of Senior Notes 0.0 600.0 0.0
Stock option exercises 77.7 70.7 67.2
Issuance of Class A common stock under employee stock purchase plan 29.6 28.5 21.9
Payments made for:      
Settlement of tax receivable agreements (849.8) 0.0 0.0
Repurchases of Class A common stock (541.7) (458.6) 0.0
Repayment of term loans (28.7) (625.0) (25.0)
Financing-related costs (6.4) (13.2) 0.0
Contingent consideration for business acquisitions (0.5) (54.8) (10.4)
Other financing obligations (8.2) (4.5) (6.7)
Net cash provided by (used in) financing activities (581.7) (456.9) 47.0
Effect of exchange rate changes on cash and cash equivalents 1.8 (0.8) (2.3)
Net increase (decrease) in cash and cash equivalents (297.6) 130.4 349.7
Cash and cash equivalents, beginning of period 1,062.8 932.4 582.7
Cash and cash equivalents, end of period 765.2 1,062.8 932.4
Cash paid during the period for:      
Interest on long-term debt, net of swap benefit 80.5 80.3 84.1
Income taxes, net of refunds received 16.2 6.1 22.8
Amounts included in the measurement of operating lease liabilities 53.0 50.0 0.0
Supplemental disclosure of non-cash transactions:      
Operating lease assets obtained in exchange for operating lease obligations 21.0 126.3 0.0
Acquisition date fair value of contingent consideration 0.0 0.0 45.6
Accrued purchases of property and equipment at period end 3.0 7.4 21.9
Landlord paid tenant improvements included in purchases of property and equipment $ 0.5 $ 11.2 $ 4.1
v3.20.4
Organization and Background
 12 Months Ended
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Background Organization and Background
Description of Business
We deliver simple, easy-to-use cloud-based products and outcome-driven, personalized guidance, which enables our customers to establish a digital presence, connect with their customers and manage their presence.
Organization
We are the sole managing member of Desert Newco, LLC and its subsidiaries (Desert Newco), and as a result, we consolidate its financial results and report non-controlling interests representing the economic interests held by other members. The calculation of non-controlling interests excludes any net income attributable directly to GoDaddy Inc. We owned more than 99% of Desert Newco's limited liability company units (LLC Units) as of December 31, 2020.
Basis of Presentation
Our financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP), and include our accounts and the accounts of our subsidiaries. All material intercompany accounts and transactions have been eliminated.
Prior Period Reclassifications
Reclassifications of certain immaterial prior period amounts have been made to conform to the current period presentation.
Use of Estimates
GAAP requires us to make estimates and assumptions affecting amounts reported in our financial statements. Our more significant estimates include:
•the relative stand-alone selling price of the indicated performance obligations included in revenue arrangements with multiple performance obligations;
•the estimated reserve for refunds;
•the fair value of assets acquired and liabilities assumed in business acquisitions;
•the assessment of recoverability of long-lived assets;
•the estimated useful lives of intangible and depreciable assets;
•the fair value of financial instruments;
•the recognition, measurement and valuation of current and deferred income taxes; and
•the recognition and measurement of loss contingencies, indirect tax liabilities and certain accrued liabilities.
We periodically evaluate our estimates and adjust prospectively, if necessary. We believe our estimates and assumptions are reasonable; however, actual results may differ.
Segment
As of December 31, 2020, our chief operating decision maker function was comprised of our Chief Executive Officer who reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance for the entire company. Accordingly, we have a single operating and reportable segment.
v3.20.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Cash and Cash Equivalents
Cash and cash equivalents includes cash on hand, other highly liquid investments with a remaining maturity of 90 days or less at the date of acquisition and receivables related to third-party payment processor transactions normally received within 72 hours. Amounts receivable for payment processor transactions totaled $24.5 million and $25.4 million at December 31, 2020 and 2019, respectively.
Short-Term Investments
Our short-term investments consist of various instruments with a remaining maturity in excess of 90 days at the date of acquisition, which are carried at fair value. The estimated fair value of our short-term investments is determined based on quoted market prices and approximated historical cost. We did not have any material realized or unrealized gains or losses on sales of short-term investments during any of the periods presented.
We classify our short-term investments as available-for-sale at the time of purchase and reevaluate such classification at each balance sheet date. We may sell our short-term investments at any time for use in current operations or for other purposes, such as consideration for acquisitions, even if they have not yet reached maturity. As a result, we classify our short-term investments, including investments with maturities beyond 12 months, as current assets.
Registry Deposits
Registry deposits represent amounts on deposit with, or receivable from, various domain name registries to be used by us to make payments for future domain registrations or renewals.
Prepaid Domain Name Registry Fees
Prepaid domain name registry fees represent amounts charged by a registry at the time a domain is registered or renewed. These amounts are amortized to cost of revenue over the same period revenue is recognized for the related domain registration contracts.
Property and Equipment
Property and equipment is stated at cost. Depreciation is recorded over the estimated useful lives of the applicable assets using the straight-line method beginning on the date an asset is placed in service. We regularly evaluate the estimated useful lives to determine whether events or changes in circumstances warrant a revision to the remaining period of depreciation.
Property and equipment consisted of the following:
Estimated
Useful Lives		December 31,
20202019
Computer equipment3 years$464.1 $434.8 
Software
3-5 years
64.8 55.9 
LandIndefinite9.0 9.0 
Buildings, including improvements
5-40 years
146.6 145.5 
Leasehold improvementsLesser of useful life or remaining lease term98.2 99.4 
Other
1-20 years
27.0 25.7 
Total property and equipment809.7 770.3 
Less: accumulated depreciation and amortization(552.4)(511.7)
Property and equipment, net$257.3 $258.6 
Depreciation and amortization expense related to property and equipment was $73.4 million, $86.5 million and $97.4 million during 2020, 2019 and 2018, respectively.
Capitalized Internal-Use Software Costs
Costs incurred to develop software for internal-use during the application development phase are capitalized and amortized over such software's estimated useful life. Costs related to the design or maintenance of internal-use software are included in technology and development expenses as incurred. We capitalized $9.9 million and $13.4 million of such costs to property and equipment during 2020 and 2019, respectively.
Goodwill and Indefinite-Lived Intangible Assets
Goodwill represents the excess of the purchase price over the estimated fair value of net tangible and identifiable intangible assets acquired in business combinations. Indefinite-lived intangible assets consist of the GoDaddy trade names and branding, our domain portfolio and certain contractual-based assets. Goodwill and indefinite-lived intangible assets are not amortized to earnings, but are assessed for impairment at least annually. As individual domains are sold, our indefinite-lived domain portfolio intangible asset is reduced by the allocated carrying cost of each domain, which is included in cost of revenue.
Goodwill in our single reportable segment is assessed for impairment annually during the fourth quarter of each year. We also perform an assessment at other times if events or changes in circumstances indicate the carrying value may not be recoverable. If, based on qualitative analysis, we determine it is more-likely-than-not the fair value of our reporting unit is less than its carrying amount, a quantitative impairment test is performed. Our qualitative analysis did not indicate impairment of our goodwill during any of the periods presented.
Our indefinite-lived trade names and branding, domain portfolio and contractual-based assets are reviewed for impairment annually during the fourth quarter of each year. We also perform assessments at other times if events or changes in circumstances indicate the carrying amounts of these assets may not be fully recoverable. Any identified impairment losses are treated as permanent reductions in the carrying amounts of the assets. Our qualitative analysis did not indicate impairment of our indefinite-lived assets during any of the periods presented.
Long-Lived and Finite-Lived Intangible Assets
Finite-lived intangible assets are amortized over the following estimated useful lives:
Customer relationships
2-9 years
Developed technology
3-7 years
Trade names and other
1-10 years
Our finite-lived intangible assets are primarily amortized on a straight-line basis. We annually evaluate the estimated remaining useful lives of our intangible assets to determine whether events or changes in circumstances warrant a revision to the remaining period of amortization.
Long-lived and finite-lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be fully recoverable. An impairment loss is recognized if the sum of the expected long-term undiscounted cash flows the asset is expected to generate is less than its carrying amount. Any write-downs are treated as permanent reductions in the carrying amount of the respective asset. Our analysis did not indicate impairment during any of the periods presented.
Debt Issuance Costs
We defer and amortize issuance costs, underwriting fees and related expenses incurred in connection with the issuance of debt instruments using the effective interest method over the terms of the respective instruments. Debt issuance costs, other than those associated with our revolving credit loan, are reflected as a direct reduction of the carrying amount of the related debt liability. Debt issuance costs related to our revolving credit loan are reflected as an asset.
Derivative Financial Instruments
We are exposed to changes in foreign currency exchange rates as well as changes in interest rates associated with our variable-rate debt. Consequently, we use derivative financial instruments to manage and mitigate such risks. We do not enter into derivative transactions for speculative or trading purposes.
We utilize a variety of derivative instruments, all of which are designated as cash flow hedges. We expect each derivative instrument qualifying for hedge accounting will be highly effective at reducing the risk associated with the exposure being hedged. For each derivative instrument designated as a hedge, we formally document the related risk management strategy and objective, including identification of the hedging instrument, the hedged item and the risk of exposure, as well as how hedge effectiveness will be assessed prospectively and retrospectively over the instrument's term. To assess effectiveness of our swap instruments, we use regression analysis performed utilizing the Hypothetical Derivative Method to compare the change in fair value of the derivative instrument designated as the hedging instrument to the change in the fair value of a similarly modeled hypothetical derivative using the same discount rate. Following our initial quantitative assessment, we may perform subsequent assessments on a qualitative basis unless facts and circumstances change such that we can no longer qualitatively assert that our hedges are highly effective.
We reflect unrealized gains or losses on our cash flow hedges as a component of accumulated other comprehensive income (loss) (AOCI). Gains and losses, once realized, are recorded as a component of AOCI and are amortized to earnings over the same period in which the underlying hedged amounts are recognized. At inception, and each reporting period, we evaluate the effectiveness of each of our hedges, and all hedges were determined to be effective.
Our derivative instruments are recorded at fair value on a gross basis. For cash flow reporting purposes, proceeds received or amounts paid upon the settlement of a derivative instrument are classified in the same manner as the related item being hedged, primarily within cash flows from operating activities.
Leases
We lease office and data center space in various locations. We determine whether a contract contains a lease at contract inception. We have lease agreements with lease and non-lease components and have elected to account for such components as a single lease component. This election is made by class of underlying asset and was elected for our leases of office space, data center space and server equipment. We initially recognize and measure contracts containing a lease and determine lease classification at commencement. Right-of-use (ROU) assets and operating lease liabilities are measured based on the estimated present value of lease payments over the lease term. In determining the present value of lease payments, we use our estimated incremental borrowing rate when the rate implicit in the lease cannot be readily determined. The estimated incremental borrowing rate is based upon information available at lease commencement including publicly available data for debt instruments. The lease term includes periods covered by options to extend when it is reasonably certain we will exercise such options as well as periods subsequent to an option to terminate the lease if it is reasonably certain we will not exercise the termination option. Operating lease costs are recognized on a straight-line basis over the lease term while finance leases result in a front-loaded expense pattern. Variable lease costs are recognized as incurred. On our balance sheets, assets and liabilities associated with operating leases are included within operating lease assets, accrued expenses and other current liabilities and operating lease liabilities. Assets and liabilities associated with finance leases are included in property and equipment, net, accrued expenses and other current liabilities and other long-term liabilities.
Prior to January 1, 2019, rent expense under operating leases was recognized on a straight-line basis over the lease term taking into consideration rent abatements, scheduled rent increases and any lease incentives.
Foreign Currency
Our functional and reporting currency is the U.S. dollar. Assets denominated in foreign currencies are remeasured into United States (U.S.) dollars at period-end exchange rates. Foreign currency-based revenue and expense transactions are measured at transaction date exchange rates. Foreign currency remeasurement gains and losses are recorded in other income (expense), net and were $(12.3) million, $(7.1) million and $(10.4) million during 2020, 2019 and 2018, respectively.
For certain of our foreign subsidiaries whose functional currency is other than the U.S. dollar, we translate revenue and expense transactions at average exchange rates. We translate assets and liabilities at period-end exchange rates and include foreign currency translation gains and losses as a component of AOCI.
Revenue Recognition
Revenue is recognized when control of the promised product or service (product) is transferred to our customers, in an amount reflecting the consideration we expect to be entitled to in exchange for such product.
We typically receive payment at the time of sale, the purpose of which is to provide our customers with a simplified and predictable way of purchasing our products. We have determined that our contracts do not include a significant financing component. Payments received in advance of our performance are recorded as deferred revenue. Revenue is recognized net of allowances for returns and applicable transaction-based taxes collected from customers.
Our products are generally sold with a right of return within our policy, which are accounted for as variable consideration when estimating the amount of revenue to recognize. Refunds are estimated at contract inception using the expected value method based on historical refund experience and updated each reporting period as additional information becomes available and only to the extent it is probable a significant reversal of any incremental revenue will not occur. Refunds result in a reduced amount of revenue recognized over the contract term of the applicable product.
Our revenue is categorized and disaggregated as reflected in our statements of operations, as follows:
Domains. Domains revenue primarily consists of domain registrations and renewals, aftermarket domain sales, domain add-ons such as domain protection and fee surcharges paid to ICANN. Consideration is recorded as deferred revenue when received, which is typically at the time of sale, and revenue, other than for aftermarket domain sales, is recognized ratably over the period in which the performance obligations are satisfied, which is generally over the contract term. Aftermarket domain revenue is recognized at the time when ownership of the domain is transferred to the buyer.
Hosting and presence. Hosting and presence revenue primarily consists of website hosting products, website building products, website security products and online visibility products. Consideration is recorded as deferred revenue when received, which is typically at the time of sale, and revenue is recognized ratably over the period in which the performance obligations are satisfied, which is generally over the contract term.
Business applications. Business applications revenue primarily consists of third-party productivity applications, email accounts, email marketing tools and telephony solutions. Consideration is recorded as deferred revenue when received, which is typically at the time of sale, and revenue is recognized ratably over the period in which the performance obligations are satisfied, which is generally over the contract term.
See Note 7 for additional information regarding our deferred revenue. See Note 18 for our revenue disaggregated by geography.
Performance Obligations
Our contracts with customers may include multiple performance obligations, including a combination of some or all of the following products: domain registrations, website hosting products, website building products, website security products and other cloud-based products. Judgment may be required in determining whether products are considered distinct performance obligations that should be accounted for separately or as one combined performance obligation. Revenue is recognized ratably over the period in which the performance obligations are satisfied, which is generally over the contract term.
For each domain registration or renewal we provide, we have one performance obligation to our customers consisting of two promises: 1) to ensure the exclusive use of the domain during the applicable registration term and 2) to ensure the domain is accessible and appropriately directed to its underlying content. After the contract term expires, unless renewed, the customer can no longer access or use the domain. We have determined these promises are not distinct within the context of our contracts as they are highly interdependent and interrelated and are inputs to a combined benefit. Accordingly, we concluded that each domain registration or renewal represents one product offering and is a single performance obligation.
We may also offer specific arrangements, such as our Websites + Marketing solution, in which we include promises to transfer multiple performance obligations in a single product offering. For such arrangements, we allocate the transaction price to each of the underlying distinct performance obligations based on its relative stand-alone selling price (SSP), as described below.
We have determined that generally each of our other products constitutes an individual product offering to our customers, and therefore have concluded that each is a single performance obligation.
For arrangements with multiple performance obligations, we allocate revenue to each distinct performance obligation based on its relative SSP. We use judgment to determine SSP based on prices charged to customers for individual products, taking into consideration factors including historical and expected discounting practices, the size, volume and term length of transactions, customer demographics, the geographic areas in which our products are sold and our overall go-to-market strategy.
Principal versus Agent Considerations
We sell our products directly to customers and also through a network of resellers. In certain cases, we act as a reseller of products provided by others. The determination of gross or net revenue recognition is reviewed on a product-by-product basis and is dependent on our determination as to whether we act as principal or agent in the transaction. Revenue associated with sales through our network of resellers, for certain aftermarket domain sales and for third-party offerings is generally recorded on a gross basis as we have determined that we control the product before transferring it to our end customers.
Assets Recognized from Contract Costs
Commissions paid to our resellers represent an incremental cost of obtaining a contract with a customer. We capitalize and amortize such amounts to cost of revenue consistent with the pattern of transfer of the product to which the asset relates. Amounts capitalized and amortized were not material during any of the periods presented.
Fees paid to various registries at the inception of a domain registration or renewal represent costs to fulfill a contract. We capitalize and amortize these prepaid domain name registry fees to cost of revenue consistent with the pattern of transfer of the product to which the asset relates. Amortization expense of such asset was $644.6 million, $614.7 million and $597.1 million during 2020, 2019 and 2018, respectively.
No other material contract costs were capitalized during any of the periods presented.
Operating Expenses
Cost of Revenue (excluding depreciation and amortization)
Costs of revenue are the direct costs we incur in connection with selling an incremental product to our customers. Substantially all cost of revenue relates to domain registration fees paid to the various domain registries, payment processing fees, third-party commissions and licensing fees for third-party productivity applications.
Technology and Development
Technology and development expenses represent the costs associated with the creation, development and distribution of our products and websites. These expenses primarily consist of personnel costs associated with the design, development, deployment, testing, operation and enhancement of our products, as well as costs associated with the data centers and systems infrastructure supporting those products, excluding depreciation expense.
Marketing and Advertising
Marketing and advertising expenses represent the costs associated with attracting and acquiring customers, primarily consisting of fees paid to third parties for marketing and advertising campaigns across a variety of channels. These expenses also include personnel costs and affiliate program commissions.
Advertising costs are expensed either as incurred, at the time a commercial initially airs or when a promotion first appears in the media. Advertising expenses were $329.6 million, $260.0 million and $231.1 million during 2020, 2019 and 2018, respectively. Prepaid advertising, which is included within prepaid expenses and other current assets, was $9.3 million and $6.3 million at December 31, 2020 and 2019, respectively.
Customer Care
Customer care expenses represent the costs to guide and service our customers, primarily consisting of personnel costs.
General and Administrative
General and administrative expenses primarily consist of personnel costs for our administrative functions, professional service fees, office rent for all locations, all employee travel expenses, acquisition-related expenses and other general costs.
Equity-Based Compensation
We have granted stock options at exercise prices equal to the fair market value of our Class A common stock on the grant date. We have granted both options and restricted stock units (RSUs) vesting solely upon the continued service of the recipient as well as performance-based awards (PSUs) with vesting based on either (i) our achievement of specified financial targets or (ii) our relative total stockholder return (TSR) as compared to a selected index of public internet companies. We recognize the accounting grant date fair value of equity-based awards as compensation expense over the required service period of each award, taking into account the probability of our achievement of associated performance targets.
We apply the straight-line attribution method to recognize equity-based compensation expense associated with awards not subject to graded vesting. For awards subject to graded vesting, we recognize expense separately for each vesting tranche. We regularly estimate when and if PSUs will be earned and record expense over the estimated service period only for awards considered probable of being earned. Any previously recognized expense is reversed in the period in which an award is determined to no longer be probable of being earned.
On the settlement date of each three-year performance period associated with our TSR-based PSU grants, and only if a participant remains a Service Provider (as defined in the 2015 Equity Incentive Plan) on such date, a participant will receive shares of our Class A common stock ranging from 0% to 200% of the originally granted PSUs based on our relative TSR as compared to the companies within the selected index. Vesting of the PSUs is subject to the TSR market condition as well as approval of the performance by our board of directors following the end of each performance period.
Equity-based awards are accounted for using the fair value method. RSUs and PSUs are measured based on the fair market value of the underlying common stock on their respective accounting grant dates. Grant date fair values for stock options are determined using the Black-Scholes option pricing model and a single option award approach. The accounting grant date for PSUs is the date on which the applicable performance criteria are approved by our board of directors (the Board). The fair value of shares issued under our employee stock purchase plan is estimated on the first day of each offering period using the Black-Scholes option pricing model.
We utilize an estimated forfeiture rate in our equity-based compensation expense calculations, which is based on an analysis of historical data. The cumulative effect of any changes to the forfeiture rate is recognized in the period in which the estimate is changed.
Key assumptions used in the determination of fair value for stock options are as follows:
Expected term. Because of the lack of sufficient historical data, we use the simple average of the vesting period and the contractual term to estimate the period the stock options are expected to be outstanding.
Expected volatility. We determine the expected stock price volatility based on the historical volatility of our Class A common stock and the historical volatilities of an industry peer group.
Expected dividend yield. We do not use a dividend rate due to our expectation of not paying dividends in the foreseeable future.
Risk-free interest rate. We base the risk-free interest rate on the yield curve of a zero-coupon U.S. Treasury bond with a maturity equal to the expected term of the option on the grant date.
The fair value of stock options granted was estimated using the following weighted-average assumptions:
Year Ended December 31,
202020192018
Expected term (in years)6.06.16.1
Expected volatility32.3 %31.2 %31.5 %
Risk-free interest rate0.9 %2.2 %2.7 %
We estimate the grant-date fair value of the TSR-based PSUs using a Monte Carlo simulation which requires assumptions for expected volatility, risk-free rate of return and dividend yield. Expected volatilities for GoDaddy and the companies within the index are derived using historical volatilities over a period equal to the length of the performance period. We base the risk-free rate of return on the yield of a zero-coupon U.S. Treasury bond with a maturity equal to the performance period, and assume a 0% dividend rate. Equity-based compensation expense for these PSUs is recognized over the requisite service period, regardless of whether the TSR market condition is satisfied.
Income Taxes
We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets (DTAs) and liabilities (DTLs) for the expected future tax consequences of events included in the financial statements. Under this method, we determine DTAs and DTLs on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on DTAs and DTLs is recognized in the period in which the enactment date occurs.
We recognize DTAs to the extent we believe these assets are more-likely-than-not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent results of operations.
We record uncertain tax positions on the basis of a two-step process in which (1) we determine whether it is more-likely-than-not the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions meeting the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50% likely to be realized upon ultimate settlement with the related tax authority.
Interest and penalties related to income taxes are included in benefit (provision) for income taxes, and were not material during any of the periods presented.
Fair Value Measurements
Fair value is defined as an exit price, representing the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. The framework for measuring fair value provides a three-tier hierarchy prioritizing inputs to valuation techniques used in measuring fair value as follows:
Level 1— Observable inputs such as quoted prices for identical assets or liabilities in active markets;
Level 2— Inputs, other than quoted prices for identical assets or liabilities in active markets, which are observable either directly or indirectly; and
Level 3— Unobservable inputs in which there is little or no market data requiring the reporting entity to develop its own assumptions.
We hold certain assets required to be measured at fair value on a recurring basis. These may include reverse repurchase agreements, commercial paper or other securities, which are classified as either cash and cash equivalents or short-term investments. We classify these assets within Level 1 or Level 2 because we use either quoted market prices or alternative pricing sources utilizing market observable inputs to determine their fair value. In addition, Level 2 assets and liabilities include derivative financial instruments associated with hedging activity, as further discussed in Note 10. Derivative financial instruments are measured at fair value on the contract date and are subsequently remeasured each reporting period using inputs such as spot rates, discount rates and forward rates. There are not active markets for the hedge contracts themselves; however, the inputs used to calculate the fair value of the instruments are tied to active markets.
The following tables set forth assets and liabilities measured at fair value on a recurring basis:
December 31, 2020
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents:
Money market funds$98.0 $— $— $98.0 
Total assets measured and recorded at fair value$98.0 $— $— $98.0 
Liabilities:
 Derivative liabilities$— $216.4 $— $216.4 
Total liabilities measured and recorded at fair value$— $216.4 $— $216.4 

December 31, 2019
Assets:Level 1Level 2Level 3Total
 Cash and cash equivalents:
Reverse repurchase agreements(1)
$— $70.0 $— $70.0 
Commercial paper— 102.0 — 102.0 
Money market funds444.0 — — 444.0 
 Short-term investments:
Commercial paper and other0.7 22.9 — 23.6 
Total assets measured and recorded at fair value$444.7 $194.9 $— $639.6 
Liabilities:
 Derivative liabilities$— $93.8 $— $93.8 
Total liabilities measured and recorded at fair value$— $93.8 $— $93.8 
_________________________________
(1) Reverse repurchase agreements include a $70.0 million repurchase agreement with Morgan Stanley, callable with 31 days notice.
We have no other material assets or liabilities measured at fair value on a recurring basis.
Business Combinations
We include the results of operations of acquired businesses as of the respective acquisition dates. Purchase price is allocated to the tangible and intangible assets acquired and the liabilities assumed based on their estimated fair values, with the excess recorded as goodwill. If applicable, we estimate the fair value of contingent consideration payments in determining the purchase price. Measurement period adjustments to provisional purchase price allocations are recognized in the period in which they are determined, with the effect on earnings of changes in depreciation, amortization or other income resulting from such changes calculated as if the accounting had been completed at the acquisition date. Contingent consideration is adjusted to fair value in subsequent periods as an increase or decrease in general and administrative expenses. Acquisition-related costs are expensed as incurred.
Concentrations of Risks
Our financial instruments exposed to concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. Although we deposit cash with multiple banks, these deposits, including those held in foreign branches of global banks, may exceed the amount of insurance provided on such deposits. These deposits may generally be redeemed upon demand and bear minimal risk.
No single customer represented over 10% of our total revenue for any period presented.
In order to reduce the risk of downtime of the products we provide, we have established data centers in various geographic regions. We have internal procedures to restore products in the event of a service disruption or disaster at any of our data center facilities. We serve our customers and users from data center facilities operated either by us or third parties, which are most significantly located in Arizona, California, Virginia, France, the Netherlands and Singapore. Even with these procedures for disaster recovery in place, the availability of our products could be significantly interrupted during the implementation of restoration procedures.
Recent Accounting Pronouncements
In June 2016, the Financial Accounting Standards Board (FASB) issued new guidance requiring all expected credit losses for financial instruments held at the reporting date to be measured based on historical experience, current conditions and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial instruments measured at amortized cost and also applies to some off-balance sheet credit exposures. Our adoption of this guidance on a modified retrospective basis on January 1, 2020 did not have a material impact as credit losses have not been, and are not expected to be, significant based on historical collection trends, the financial condition of payment partners and external market factors.
In August 2018, the FASB issued new guidance to modify or eliminate certain fair value disclosures and require additional disclosures for Level 3 measurements. Our adoption of this guidance on January 1, 2020 did not have a material impact.
In August 2018, the FASB issued new guidance aligning the accounting for implementation costs incurred in cloud computing arrangements with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. We adopted this guidance on a prospective basis on January 1, 2020. Amounts capitalized have not been material.
In December 2019, the FASB issued new guidance to simplify the accounting for income taxes primarily by eliminating certain exceptions allowable under the existing guidance related to the approach for intraperiod tax allocations, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. Our adoption of this guidance on January 1, 2020 did not have a material impact.
In March 2020, the FASB issued guidance providing temporary optional expedients and exceptions to ease the financial reporting burden of the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. The guidance is applicable to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met and to other derivative instruments if there is a change in the interest rate used for discounting, margining and contract price alignment. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. We continue to evaluate our contractual arrangements and hedging relationships that reference LIBOR.
v3.20.4
Business Acquisitions
 12 Months Ended
Dec. 31, 2020
Business Combinations [Abstract]  
Business Acquisitions Business Acquisitions
2020 Acquisitions
In August 2020, we completed the acquisition of the registry operations of Neustar Inc. for total purchase consideration consisting of $217.2 million in cash, of which $1.3 million will be paid in 2021, and the settlement of $19.4 million in pre-existing contractual relationships related to prepaid domain name registry fees. This acquisition was completed to expand our domains offerings and capabilities on an established registry technology platform.
During 2020, we completed three other acquisitions for aggregate purchase consideration of $219.2 million in cash, of which $10.2 million is payable in future periods upon expiration of the respective contractual holdback periods.
The aggregate purchase price of these four acquisitions was allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of each acquisition date, with the excess recorded to goodwill. The recognition of goodwill, of which approximately $92.0 million is deductible for income tax purposes, was made based on strategic benefits we expect to realize from the acquisitions. During the measurement periods, which will not exceed one year from each closing, we will continue to obtain information, primarily related to income taxes, to assist us in finalizing the acquisition date fair values. Any qualifying changes to our preliminary estimates will be recorded as adjustments to the respective assets and liabilities, with any residual amounts allocated to goodwill.
The following table summarizes the estimated acquisition date fair values of the aggregate assets acquired and liabilities assumed:
Total purchase consideration$455.8 
Fair value of assets acquired and liabilities assumed:
Cash and cash equivalents4.5 
Domain portfolio indefinite-lived intangible assets88.5 
Contractual-based indefinite-lived intangible assets67.0 
Finite-lived intangible assets96.2 
Deferred revenue(17.1)
Other assets and liabilities, net(20.6)
Total assets acquired, net of liabilities assumed218.5 
Goodwill$237.3 
The identified intangible assets, which were valued using income-based approaches, primarily consist of an indefinite-lived domain portfolio, contractual-based assets, developed technology and customer relationships. The acquired finite-lived intangible assets have a total weighted-average amortization period of 5.5 years.
Pro forma financial information is not presented because these acquisitions were not material to our financial statements, either individually or in the aggregate.
2018 Acquisition of Main Street Hub
In July 2018, we completed the acquisition of Main Street Hub, a social media and reputation management company, for total purchase consideration of $182.0 million, including contingent earn-out payments of up to a maximum of $50.0 million subject to the achievement of certain revenue and operational milestones. The acquisition was completed to further our professional services strategy for our customers. The contingent consideration was recorded at an estimated acquisition date fair value of $43.4 million. The acquisition was not material to our results of operations.
The purchase price was allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date, with the excess recorded to goodwill. The recognition of goodwill, none of which is deductible for income tax purposes, was made based on the strategic and synergistic benefits we expect to realize from the acquisition.
The following table summarizes the final estimated acquisition date fair values of the assets acquired and liabilities assumed:
Total purchase consideration$182.0 
Fair value of assets acquired and liabilities assumed:
Cash and cash equivalents8.0 
Intangible assets, net35.7 
Other assets and liabilities, net3.2 
Total assets acquired, net of liabilities assumed46.9 
Goodwill$135.1 
Identified finite-lived intangible assets, which were valued using income-based approaches, consist primarily of developed technology and customer relationships. The acquired finite-lived intangible assets have a total weighted-average amortization period of 4.3 years.
Other Acquisition-Related Payments
During 2020, 2019 and 2018, we made $6.8 million, $88.0 million and $21.7 million of aggregate holdback and contingent consideration payments related to business acquisitions, respectively.
v3.20.4
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The following table summarizes changes in our goodwill balance:
Balance at December 31, 2018$2,948.0 
Goodwill related to 2019 acquisitions20.9 
Impact of foreign currency translation7.6 
Balance at December 31, 20192,976.5 
Goodwill related to 2020 acquisitions237.3 
Impact of foreign currency translation61.3 
Balance at December 31, 2020$3,275.1 

Intangible assets, net are summarized as follows:
December 31, 2020
Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio250.3 n/a250.3 
Contractual-based assets67.0 n/a67.0 
Finite-lived intangible assets:
Customer-related857.0 $(534.7)322.3 
Developed technology188.1 (90.7)97.4 
Trade names and other106.9 (33.8)73.1 
$1,914.3 $(659.2)$1,255.1 

December 31, 2019
Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio148.1 n/a148.1 
Finite-lived intangible assets:
Customer-related838.4 $(475.6)362.8 
Developed technology151.5 (67.3)84.2 
Trade names and other81.4 (23.8)57.6 
$1,664.4 $(566.7)$1,097.7 
In December 2020, we completed the purchase of a domain portfolio for $17.0 million in cash, of which $2.0 million will be paid in 2021.
Amortization expense was $127.1 million, $119.5 million and $136.7 million during 2020, 2019 and 2018, respectively. As of December 31, 2020, the weighted-average remaining amortization period for amortizable intangible assets was 62 months for customer-related intangible assets, 39 months for developed technology and 79 months for trade names and other, and was 60 months in total.
Based on the balance of finite-lived intangible assets at December 31, 2020, expected future amortization expense is as follows:
Year Ending December 31:
2021$111.5 
2022108.3 
202389.4 
202476.3 
202572.4 
Thereafter34.9 
$492.8 
v3.20.4
Stockholders' Equity
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
Certificate of Incorporation
Our amended and restated certificate of incorporation authorized the issuance of up to 1,000,000 shares of Class A common stock, up to 500,000 shares of Class B common stock and up to 50,000 shares of undesignated preferred stock, each having a par value of $0.001 per share. Shares of Class A common stock have both economic and voting rights. Shares of Class B common stock have no economic rights, but do have voting rights. Holders of Class A and Class B common stock are entitled to one vote per share and, except as otherwise required, will vote together as a single class on all matters on which stockholders generally are entitled to vote.
We are required to, at all times, maintain (i) a one-to-one ratio between the number of shares of Class A common stock outstanding and the number of LLC Units held by us and (ii) a one-to-one ratio between the number of shares of Class B common stock outstanding and the number of LLC Units held by Desert Newco's other owners. Shares of Class B common stock are transferable only together with an equal number of LLC Units if we, at the election of an owner, exchange LLC Units for shares of Class A common stock.
Share Repurchase Programs
Our Board has approved certain share repurchase programs allowing us to purchase shares of our Class A common stock from time to time in open market purchases, block transactions and privately negotiated transactions, in accordance with applicable federal securities laws. The programs have no time limits, do not obligate us to make any repurchases and may be modified, suspended or terminated by us at any time without prior notice. The amount and timing of repurchases are subject to a variety of factors including liquidity, share price, market conditions and legal requirements. Repurchased shares are immediately retired and returned to an unissued status. We have elected to record the excess of the repurchase price over par value as a charge to retained earnings (accumulated deficit).
As of December 31, 2020, we had the following approved share repurchase programs:
Board Approval Date
Total Authorized Amount(1) ($)
Authorized Amount Remaining ($)
May 2020500.0 500.0 
October 2019500.0 — 
November 2018500.0 — 
_________________________________
(1) The authorized amounts exclude commissions applicable to any repurchases.
Pursuant to these programs, we made the following open market repurchases of our Class A common stock:
Year Ended December 31,Number of Shares Repurchased (#)
Aggregate Purchase Price(1) ($)
20209,986 541.7 
20197,125 458.6 
2018— — 
_________________________________
(1) The aggregate purchase price includes commissions paid in connection with the repurchases.
v3.20.4
Equity-Based Compensation Plans
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Equity-Based Compensation Plans Equity-Based Compensation Plans
Equity Plans
On March 31, 2015, we adopted the 2015 Equity Incentive Plan (the 2015 Plan). On January 1, 2020, an additional 6,794 shares of our Class A common stock were reserved for issuance under the automatic increase provisions of the 2015 Plan, and as of December 31, 2020, 27,340 shares were available for issuance as future awards under the plan.
On March 31, 2015, we adopted the 2015 Employee Stock Purchase Plan (the ESPP). On January 1, 2020, an additional 1,000 shares of our Class A common stock were reserved for issuance under the automatic increase provisions of the ESPP, and as of December 31, 2020, 4,081 shares were available for issuance under the plan.
Equity Plan Activity
The following table summarizes stock option activity:
Number of
Shares of Class A Common Stock (#)		Weighted-
Average
Grant-
Date Fair
Value ($)		Weighted-
Average
Exercise
Price ($)		Weighted-
Average
Remaining
Contractual
Life
(in years)		Aggregate
Intrinsic
Value ($)
Outstanding at December 31, 201713,460 18.63 
Granted1,208 22.19 61.49 
Exercised(4,779)14.08 246.4 
Forfeited(362)34.05 
Outstanding at December 31, 20189,527 25.77 
Granted1,401 24.91 71.74 
Exercised(3,976)17.78 213.8 
Forfeited(648)54.43 
Outstanding at December 31, 20196,304 38.08 
Granted154 22.33 68.05 
Exercised(2,613)29.71 121.0 
Forfeited(417)62.82 
Outstanding at December 31, 20203,428 42.79 6.0137.6 
Vested at December 31, 20202,458 33.90 5.2120.6 
The following table summarizes stock award activity:
Number of
Shares of Class A Common Stock (#)
Outstanding at December 31, 2017(1)
4,199 
Granted3,152 
Vested(1,545)
Forfeited(450)
Outstanding at December 31, 2018(1)
5,356 
Granted3,057 
Vested(2,187)
Forfeited(986)
Outstanding at December 31, 2019(1)
5,240 
Granted4,157 
Vested(2,368)
Forfeited(896)
Outstanding at December 31, 20206,133 
_________________________________
(1) Includes financial-based PSUs for which performance targets have not yet been established, and which are not yet considered granted for accounting purposes. The balance of outstanding awards is comprised of the following:
Number of Shares of Class A Common Stock (#)Weighted Average Fair Value Per Share ($)
RSUs3,952 53.77
Financial-based PSUs granted for accounting purposes505 63.18
Financial-based PSUs not yet granted for accounting purposes899 N/A
Outstanding at December 31, 20185,356 
RSUs4,247 65.12
Financial-based PSUs granted for accounting purposes401 73.28
Financial-based PSUs not yet granted for accounting purposes592 N/A
Outstanding at December 31, 20195,240 
RSUs5,356 70.54
TSR-based RSUs349 106.14
Financial-based PSUs granted for accounting purposes223 66.97
Financial-based PSUs not yet granted for accounting purposes205 N/A
Outstanding at December 31, 20206,133 
At December 31, 2020, total unrecognized compensation expense related to non-vested options and awards was $17.0 million and $284.2 million, respectively, with expected remaining weighted-average recognition periods of approximately 2.1 years and 2.5 years, respectively. Such amounts exclude PSUs not yet considered granted for accounting purposes.
2019 Error Correction
During 2019, we reversed $15.6 million of equity-based compensation expense as we determined that we had previously recognized such expense related to certain PSUs prior to the establishment of a grant date for accounting purposes. We determined the amounts related to the prior periods were immaterial considering both quantitative and qualitative factors.
v3.20.4
Deferred Revenue
 12 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
Deferred Revenue Deferred Revenue
Deferred revenue consisted of the following:
December 31,
20202019
Current:
Domains$810.7 $752.7 
Hosting and presence574.8 526.7 
Business applications325.8 265.0 
$1,711.3 $1,544.4 
Noncurrent:
Domains$410.4 $382.2 
Hosting and presence218.1 187.2 
Business applications96.6 85.0 
$725.1 $654.4 
The increase in the deferred revenue balance is primarily driven by payments received in advance of satisfying our performance obligations, offset by $1,734.5 million of revenue recognized during 2020 that was included in the deferred revenue balance as of December 31, 2019. The deferred revenue balance as of December 31, 2020 represents our aggregate remaining performance obligations that will be recognized as revenue over the period in which the performance obligations are satisfied, and is expected to be recognized as revenue as follows:
20212022202320242025ThereafterTotal
Domains$810.7 $218.1 $84.2 $46.5 $25.5 $36.1 $1,221.1 
Hosting and presence574.8 141.6 40.3 15.5 6.1 14.6 792.9 
Business applications325.8 68.8 21.1 3.7 1.5 1.5 422.4 
$1,711.3 $428.5 $145.6 $65.7 $33.1 $52.2 $2,436.4 
v3.20.4
Accrued Expenses and Other Current Liabilities
 12 Months Ended
Dec. 31, 2020
Payables and Accruals [Abstract]  
Accrued Expenses and Other Current Liabilities Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
December 31,
20202019
Derivative liabilities$216.4 $93.8 
Accrued payroll and employee benefits114.8 117.0 
Current portion of operating lease liabilities41.5 39.5 
Tax-related accruals38.4 30.7 
Accrued marketing and advertising29.9 14.7 
Accrued legal and professional24.4 28.7 
Accrued acquisition-related expenses and acquisition consideration payable9.4 8.3 
Other52.6 33.3 
$527.4 $366.0 
v3.20.4
Long-Term Debt
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
Long-term debt consisted of the following:
December 31,
Maturity Date20202019
2024 Term Loans (effective interest rate of 2.8% at December 31, 2020 and 4.7% at December 31, 2019)
February 15, 2024$1,807.4 $1,832.3 
2027 Term Loans (effective interest rate of 3.0% at December 31, 2020)
August 10, 2027746.2 — 
Senior Notes (effective interest rate of 5.4% at December 31, 2020 and December 31, 2019)
December 1, 2027600.0 600.0 
Revolver
February 15, 2024— — 
Total3,153.6 2,432.3 
Less: unamortized original issue discount on long-term debt(1)
(13.5)(13.2)
Less: unamortized debt issuance costs(1)
(25.7)(23.9)
Less: current portion of long-term debt(24.3)(18.4)
$3,090.1 $2,376.8 
_________________________________
(1) Original issue discount and debt issuance costs amortized to interest expense over the life of the related debt instruments using the interest method.
Credit Facility
Our secured credit agreement (the Credit Facility) includes our previously-issued term loans (the 2024 Term Loans), a new tranche of term loans issued in August 2020 (the 2027 Term Loans) and a revolving credit facility (the Revolver).
As further described below, in June 2019 we issued 5.25% unsecured senior notes (the Senior Notes) in an aggregate principal amount of $600.0 million, the proceeds of which were used to prepay $600.0 million of the outstanding principal balance of the 2024 Term Loans. The partial prepayment was made in accordance with the contractual terms of the Credit Facility and the terms of the remaining Term Loans were not modified. As such, the prepayment was considered a partial extinguishment and we wrote off a proportionate amount of the unamortized debt issuance costs and original issue discount, recognizing a $14.5 million loss on debt extinguishment.
Concurrent with the issuance of the Senior Notes, we amended the Revolver to increase its borrowing capacity to $600.0 million and reduce its interest rate margins, as described below. In addition, the amendment provided that compliance relating to our first lien secured leverage ratio occurs upon our usage exceeding 20% of the Revolver, a reduction from the previous level of 35%. In connection with this amendment, we capitalized aggregate fees of $3.4 million as debt issuance costs.
In October 2019, we refinanced the 2024 Term Loans to lower the interest rate margins by 0.25%. The refinanced loans were issued at a 0.125% discount at original issue, with no changes made to the maturity date or any other terms of the loans. Fees incurred in connection with the refinancing were not material.
In August 2020, we amended the Credit Facility to allow for the issuance of the 2027 Term Loans in an aggregate principal amount of $750.0 million. The 2027 Term Loans were issued at a 0.5% discount on the face of the note at original issue for net proceeds of $746.3 million, which were used to partially fund the payments associated with the settlement of our obligations under certain tax receivable agreements (TRAs), as discussed in Note 16. In conjunction with the issuance of these loans, we recognized an additional $6.5 million in debt issuance costs.
The 2024 Term Loans bear interest at a rate equal to, at our option, either (a) LIBOR plus 1.75% per annum or (b) 0.75% per annum plus the highest of (i) the Federal Funds Rate plus 0.5%, (ii) the Prime Rate or (iii) one-month LIBOR plus 1.0%. A portion of these loans are hedged by an interest rate swap, as discussed in Note 10.
The 2027 Term Loans bear interest at a rate equal to, at our option, either (a) LIBOR plus 2.50% per annum or (b) 1.5% per annum plus the highest of (i) the Federal Funds Rate plus 0.5%, (ii) the Prime Rate or (iii) one-month LIBOR plus 1.0%. These loans are hedged by an interest rate swap, as discussed in Note 10.
The Revolver bears interest at a rate equal to, at our option, either (a) LIBOR plus a margin ranging from 1.25% to 1.75% per annum or (b) the higher of (i) the Federal Funds Rate plus 0.5%, (ii) the Prime Rate or (iii) the one-month LIBOR rate plus 1.0% plus a margin ranging from 0.25% to 0.75% per annum, with the margins determined based on our first lien secured leverage ratio. The Revolver also contains a financial covenant requiring us to maintain a leverage ratio of 5.75:1.00 when our usage exceeds 20.0% of the maximum capacity. This ratio is calculated as the ratio of first lien secured debt less cash and cash equivalents to consolidated EBITDA (as defined in the Credit Facility).
All LIBOR-based interest rates under the Credit Facility are subject to a 0.0% floor on LIBOR.
Principal payments comprising 0.25% of the initial principal balances of the term loans are due quarterly. In addition to paying interest on the outstanding principal under the term loans, we are required to pay a commitment fee ranging from 0.125% to 0.375% per annum for any unutilized commitments under the Revolver, with the applicable fee determined based on our first lien secured leverage ratio.
Significant terms of the Credit Facility are as follows:
•we are required to prepay outstanding term loans, subject to certain exceptions, with percentages of excess cash flow, proceeds of non-ordinary course asset sales or dispositions of property, insurance or condemnation proceeds and proceeds from the incurrence of certain debt;
•we are restricted by certain covenants, including, among other things, limitations on our ability to incur additional indebtedness, sell assets, incur additional liens, make certain fundamental changes, pay distributions and make certain investments;
•we are required to maintain certain financial ratios; and
•all obligations are unconditionally guaranteed by all of our material domestic subsidiaries and is secured by substantially all of our and such subsidiaries real and personal property.
At December 31, 2020, we had $600.0 million available for borrowing under the Revolver and were not in violation of any covenants of the Credit Facility.
Senior Notes
In June 2019, we issued the Senior Notes in an aggregate principal amount of $600.0 million in a private placement offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The Senior Notes were issued at par and bear interest at 5.25% per annum, with interest payable semiannually on June 1 and December 1, commencing on December 1, 2019. The aggregate principal amount outstanding is payable at maturity on December 1, 2027, subject to earlier repurchase or optional redemption as described below.
As described above, the proceeds from the issuance of the Senior Notes were used to prepay $600.0 million in aggregate principal amount of our existing Term Loans. In conjunction with the issuance of the Senior Notes, we capitalized $9.7 million in debt issuance costs.
The Senior Notes are redeemable at our option, in whole or in part, at any time prior to June 1, 2022 at a redemption price equal to 100.0% of the principal amount, plus accrued and unpaid interest, plus an applicable premium equal to the greater of 1.0% and the remaining scheduled payments of interest discounted to a present value amount. In the event of an equity offering prior to June 1, 2022, the Senior Notes may be partially redeemed with the net cash proceeds of such offering at our option at an amount equal to 105.25% of the principal amount, plus accrued and unpaid interest. On and after June 1, 2022, we may redeem the Senior Notes, in whole or in part, at an amount equal to 102.625% of the principal amount, decreasing to 101.75% at June 1, 2023, 100.875% at June 1, 2024 and 100.0% thereafter, plus accrued and unpaid interest. Upon the occurrence of a change of control, we are required to offer to repurchase the Senior Notes from the holders at a price equal to 101.0% of the principal amount, plus accrued and unpaid interest.
Significant terms of the Senior Notes are as follows:
•they are subordinated to our existing secured debt, including the Credit Facility, and any future secured debt we may issue;
•all obligations are unconditionally guaranteed by all of our material domestic subsidiaries;
•we are restricted by certain covenants, including limitations on our ability to incur additional indebtedness, incur additional liens, consolidate with or merge with or into another entity and sell substantially all of our assets; and
•certain covenants may be suspended if we are able to obtain and maintain investment grade ratings and no event of default has occurred.
At December 31, 2020, we were not in violation of any covenants of the Senior Notes.
Fair Value
The estimated fair values of the 2024 Term Loans, 2027 Term Loans and the Senior Notes were $1,804.0 million, $750.4 million and $633.8 million, respectively, at December 31, 2020 based on observable market prices for these loans, which are traded in less active markets and therefore classified as Level 2 fair value measurements.
Future Debt Maturities
Aggregate principal payments, exclusive of any unamortized original issue discount and debt issuance costs, due on long-term debt as of December 31, 2020 are as follows:
Year Ending December 31:
2021$32.5 
202232.5 
202332.5 
20241,740.0 
20257.5 
Thereafter1,308.6 
$3,153.6 
v3.20.4
Derivatives and Hedging
 12 Months Ended
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives and Hedging Derivatives and Hedging
We are exposed to changes in foreign currency exchange rates, primarily relating to intercompany debt and certain forecasted sales transactions denominated in currencies other than the U.S. dollar, as well as to changes in interest rates as a result of our variable-rate debt. Consequently, we use derivative financial instruments to manage and mitigate such risk. We do not enter into derivative transactions for speculative or trading purposes.
We utilize a variety of derivative instruments, all of which are designated as cash flow hedges, including:
•foreign exchange forward contracts to hedge certain forecasted sales transactions denominated in foreign currency;
•a cross-currency swap arrangement used to manage variability due to movements in foreign currency exchange rates related to a Euro-denominated intercompany loan; and
•pay-fixed rate, receive-floating rate interest rate swap arrangements to effectively convert portions of our variable-rate debt to fixed.
The following table summarizes our outstanding derivative instruments on a gross basis:
Notional Amount
Fair Value of Derivative Assets(2)
Fair Value of Derivative Liabilities(2)
December 31, 2020December 31, 2019December 31, 2020December 31, 2019December 31, 2020December 31, 2019
Derivative Instrument:
Level 2:
Foreign exchange forward contracts$276.2 $138.9 $— $— $15.8 $3.3 
Cross-currency swap(1)
1,461.9 1,355.8 — — 167.2 64.1 
Interest rate swaps2,022.0 1,289.0 2.0 — 33.4 26.4 
Total hedges$3,760.1 $2,783.7 $2.0 $— $216.4 $93.8 
_________________________________
(1) The notional values of the cross-currency swap have been translated from Euros to U.S. dollars at the foreign currency rates in effect at December 31, 2020 and 2019 of approximately 1.22 and 1.12, respectively.
(2) In our balance sheets, all derivative assets are recorded within prepaid expenses and other current assets and all derivative liabilities are recorded within accrued expenses and other current liabilities.
The following table summarizes the effect of our designated cash flow hedging derivative instruments on AOCI:
Unrealized Gains (Losses) Recognized in Other Comprehensive Income (Loss)
Year Ended December 31,
202020192018
Derivative Instrument:
Foreign exchange forward contracts(1)
$(17.6)$(2.7)$8.9 
Cross-currency swap16.2 25.8 (3.5)
Interest rate swaps(4.9)(25.0)17.7 
Total hedges$(6.3)$(1.9)$23.1 
_________________________________
(1) Amounts include gains and losses realized upon contract settlement but not yet recognized into earnings from AOCI.
The following table summarizes the locations and amounts of gains (losses) recognized within earnings related to our cash flow hedging relationships:
Year Ended December 31,
202020192018
RevenueInterest ExpenseOther Income (Expense), NetRevenueInterest ExpenseOther Income (Expense), NetRevenueInterest ExpenseOther Income (Expense), Net
Foreign exchange forward contracts:
Reclassified from AOCI into income$2.7 $— $— $3.2 $— $— $(2.1)$— $— 
Cross-currency swap:
Reclassified from AOCI into income (1)
— 28.9 (120.4)— 30.1 28.1 — 28.3 65.9 
Interest rate swaps:
Reclassified from AOCI into income— (25.6)— — (2.6)— — (6.5)— 
Total hedges$2.7 $3.3 $(120.4)$3.2 $27.5 $28.1 $(2.1)$21.8 $65.9 
_________________________________
(1) The amounts reflected in other income (expense), net include $119.3 million, $(28.7) million and $(67.3) million reclassified from AOCI to offset the earnings impact of the remeasurement of the Euro-denominated intercompany loan hedged by the cross-currency swap during 2020, 2019 and 2018, respectively.
As of December 31, 2020, we estimate that approximately $9.8 million of net deferred losses related to our cash flow hedges will be recognized in earnings over the next 12 months. No amounts were excluded from our effectiveness testing during any of the periods presented.
Risk Management Strategies
Foreign Exchange Forward Contracts
From time-to-time, we may enter into foreign exchange forward contracts with financial institutions to hedge certain forecasted sales transactions denominated in foreign currency. We designate these forward contracts as cash flow hedges, which are recognized as either assets or liabilities at fair value. At December 31, 2020, all such contracts had maturities of 18 months or less.
Cross-Currency Swap Contract
In April 2017, in order to manage variability due to movements in foreign currency rates related to a Euro-denominated intercompany loan, we entered into a five-year cross-currency swap arrangement. The cross-currency swap, which matures on April 3, 2022, had an amortizing notional amount of €1,243.3 million at inception (approximately $1,325.4 million). It converts the 3.00% fixed rate Euro-denominated interest and principal receipts on the intercompany loan into fixed U.S. dollar interest and principal receipts at a rate of 5.44%. Pursuant to the contract, the Euro notional value will be exchanged for the U.S. dollar notional value at maturity. The cross-currency swap has been designated as a cash flow hedge. Accordingly, it is recognized as an asset or liability at fair value and the unrealized gains and losses on the contract are included in gain (loss) on swaps and foreign currency hedging, net within AOCI. Gains and losses are reclassified to interest income or expense over the period the hedged loan affects earnings. As such, amounts recorded in other comprehensive income (loss) (OCI) will be recognized in earnings within or against interest expense when the hedged interest payment is accrued each month. In addition, an amount is reclassified from AOCI to other income (expense), net each reporting period, to offset the earnings impact of the hedged instrument.
Interest Rate Swap Contracts
In April 2017, we entered into a five-year pay-fixed rate, receive-floating rate interest rate swap arrangement to effectively convert a portion of the variable-rate debt to fixed. This arrangement, which matures on April 3, 2022, had an amortizing notional amount of $1,325.4 million at inception and swaps the variable interest rate on our LIBOR-based borrowings for a fixed rate of 5.44%.
In August 2020, in conjunction with the issuance of the 2027 Term Loans discussed in Note 9, we entered into seven-year pay-fixed rate, receive-floating rate interest rate swap arrangements to effectively convert the variable one-month LIBOR interest rate on the 2027 Term Loans borrowings to a fixed rate of 0.705%. These interest rate swaps, which mature on August 10, 2027, had an aggregate notional amount of $750.0 million at inception.
The objective of these arrangements, which are designated as cash flow hedges and recognized as assets or liabilities at fair value, is to manage the variability of cash flows in the interest payments related to the portion of the variable-rate debt designated as being hedged. The unrealized gains and losses on the contracts are included in gain (loss) on swaps and foreign currency hedging, net within AOCI, and will be recognized in earnings within or against interest expense when the hedged interest payments are accrued each month.
v3.20.4
Leases
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Leases Leases
Our operating leases primarily consist of office and data center space expiring at various dates through November 2036. Certain leases include options to renew or terminate at our discretion. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of December 31, 2020, operating leases have a remaining weighted average lease term of 7.9 years and our operating lease liabilities were measured using a weighted average discount rate of 5.0%. Finance leases are immaterial.
The components of operating lease expense were as follows:
Year Ended December 31,
20202019
Operating lease costs$53.2 $55.6 
Variable lease costs9.2 8.8 
Sublease income(3.0)(3.0)
Net lease costs$59.4 $61.4 
Total rent expense related to operating leases was $38.3 million during 2018.
We recognized an impairment of our operating lease assets during 2020, as discussed in Note 13.
Maturities of operating lease liabilities as of December 31, 2020 were as follows:
Year Ending December 31:
2021$50.8 
202236.4 
202326.8 
202426.7 
202523.5 
Thereafter89.4 
Total lease payments253.6 
Less: imputed interest(45.4)
$208.2 
v3.20.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Service Agreements
We have entered into long-term agreements with certain vendors to provide for software and equipment maintenance, specified levels of bandwidth and other services. Under these arrangements, we are required to make periodic payments. Future minimum obligations under these non-cancelable agreements with initial terms in excess of one year at December 31, 2020 are as follows:
Year Ending December 31:
2021$83.3 
202274.5 
202338.0 
202411.7 
20250.6 
Thereafter0.1 
$208.2 
Litigation
From time-to-time, we are a party to litigation and subject to claims incident to the ordinary course of business, including intellectual property claims, putative and certified class actions, commercial and consumer protection claims, labor and employment claims, breach of contract claims and other asserted and unasserted claims. We investigate claims as they arise and accrue estimates for resolution of legal and other contingencies when losses are probable and estimable.
On June 13, 2019, we entered into an agreement in principle to settle the class action complaint, Jason Bennett v. GoDaddy.com (Case No. 2:16-cv-03908-DLR) (D. Ariz.), filed on June 20, 2016. The complaint alleges violation of the Telephone Consumer Protection Act of 1991 (the TCPA). On September 23, 2019, the parties fully executed a written settlement agreement. On December 16, 2019, we amended the settlement agreement to include two additional putative class action cases, which also alleged violations of the TCPA: John Herrick v. GoDaddy.com, LLC (Case No. 2:16-cv-00254 (D. Ariz.), appeal pending 18-16048 (9th Cir.)) and Susan Drazen v. GoDaddy.com, LLC (Case No 19-cv-00563) (S.D. Ala.). In 2019, we recorded an $18.1 million charge to general and administrative expense, representing our original estimated loss provision for this settlement.
Under the terms of the final settlement agreement, we made available a total of up to $35.0 million to pay: (i) class members, at their election, either a cash settlement or a credit to be used for future purchases of products from us; (ii) an incentive payment to the class representatives; (iii) notice and administration costs in connection with the settlement; and (iv) attorneys' fees to legal counsel representing the class.
On April 22, 2020, the parties filed statements in response to a request from the S.D. Ala. Court (the Court) to refine the class definition, resulting in a reduction in the total number of class members from the original estimated class. Accordingly, we recorded a $2.9 million reduction of our estimated loss provision to general and administrative expense during the three months ended March 31, 2020.
On May 14, 2020, the Court granted approval of the plaintiffs' unopposed motion for preliminary certification of the settlement class, subject to the parties' execution of an amended settlement agreement to remove John Herrick as a class representative. The parties executed such amendment on May 26, 2020, and on June 9, 2020, the Court granted preliminary approval of the final settlement agreement. The Court's order also set October 7, 2020 as the deadline for class members to submit claims and December 14, 2020 as the hearing date regarding final approval of the settlement.
On September 1, 2020, the Court issued an amended order reducing the attorneys' fees to be paid to legal counsel representing the class. Additionally, the actual number of claims made by class members through the October 7, 2020 deadline was lower than our original estimates. Based primarily on these two factors, we recorded a $4.8 million reduction of our estimated loss provision to general and administrative expense during the three months ended September 30, 2020.
On December 23, 2020, the Court issued a final judgment and order approving the class settlement, which further reduced the attorneys' fees to be paid to legal counsel representing the class and denied plaintiffs' request for an incentive payment. Additionally, the actual notice and administration costs associated with the settlement were lower than originally estimated. On January 19, 2021, a single objector to the settlement filed a notice of appeal to the 11th Circuit Court of Appeals. As a result of these developments, we recorded a $2.3 million reduction to general and administrative expense during the three months ended December 31, 2020, lowering our estimated loss provision for this settlement to $8.1 million at December 31, 2020. The timing of the payments to be made under the final settlement agreement is pending resolution of the appeal.
We have denied and continue to deny the allegations in the complaint. Nothing in the final settlement agreement shall be deemed to assign or reflect any admission of fault, wrongdoing or liability, or of the appropriateness of a class action in such litigation. We received a full release from the settlement class (other than from those class members who timely elected to opt out of the settlement) concerning the claims asserted, or that could have been asserted, with respect to the claims released in the final settlement agreement. Our legal fees associated with this matter have been recorded to general and administrative expense as incurred and were not material.
The amounts currently accrued for other matters are not material. While the results of such normal course claims and legal proceedings, regardless of the underlying nature of the claims, cannot be predicted with certainty, management does not believe, based on current knowledge and the likely timing of resolution of various matters, any additional reasonably possible potential losses above the amounts accrued for such matters would be material. Regardless of the outcome, claims and legal proceedings may have an adverse effect on us because of defense costs, diversion of management resources and other factors. We may also receive unfavorable preliminary or interim rulings in the course of litigation, and there can be no assurances that favorable final outcomes will be obtained. The final outcome of any current or future claims or lawsuits could adversely affect our business, financial condition or results of operations.
Indemnifications
In the normal course of business, we have made indemnities under which we may be required to make payments in relation to certain transactions, including to our directors and officers to the maximum extent permitted under applicable state laws and indemnifications related to certain lease agreements. In addition, certain advertiser and reseller partner agreements contain indemnification provisions, which are generally consistent with those prevalent in the industry. We have not incurred material obligations under indemnification provisions historically, and do not expect to incur material obligations in the future. Accordingly, we have not recorded any liabilities related to such indemnities as of December 31, 2020 and 2019.
We include service level commitments to our customers guaranteeing certain levels of uptime reliability and performance for our hosting and premium DNS products. These guarantees permit those customers to receive credits in the event we fail to meet those levels, with exceptions for certain service interruptions including but not limited to periodic maintenance. We have not incurred any material costs as a result of such commitments during any of the periods presented, and have not recorded any liabilities related to such obligations as of December 31, 2020 and 2019.
Indirect Taxes
We are subject to indirect taxation in some, but not all, of the various states and foreign jurisdictions in which we conduct business. Laws and regulations attempting to subject communications and commerce conducted over the Internet to various indirect taxes are becoming more prevalent, both in the U.S. and internationally, and may impose additional burdens on us in the future. Increased regulation could negatively affect our business directly, as well as the businesses of our customers. Taxing authorities may impose indirect taxes on the Internet-related revenue we generate based on regulations currently being applied to similar, but not directly comparable, industries. There are many transactions and calculations where the ultimate indirect tax determination is uncertain. In addition, domestic and international indirect taxation laws are complex and subject to change. We may be audited in the future, which could result in changes to our indirect tax estimates. We continually evaluate those jurisdictions in which nexus exists and believe we maintain adequate indirect tax accruals.
As of December 31, 2020 and 2019, our accrual for estimated indirect tax liabilities was $10.1 million and $9.4 million, respectively, reflecting our best estimate of the probable liability based on an analysis of our business activities, revenues subject to indirect taxes and applicable regulations. Although we believe our indirect tax estimates and associated liabilities are reasonable, the final determination of indirect tax audits, litigation or settlements could be materially different than the amounts established for indirect tax contingencies.
v3.20.4
Restructuring Charges
 12 Months Ended
Dec. 31, 2020
Restructuring and Related Activities [Abstract]  
Restructuring Charges Restructuring Charges
In June 2020, we announced a restructuring plan related to our outbound sales and operations and recorded $43.6 million of pre-tax restructuring charges during 2020. The aggregate charges included: (i) $14.6 million in severance and related benefits to be paid to, or on behalf of, the impacted employees, as well as professional fees incurred in connection with the restructuring; (ii) a $27.9 million impairment of operating lease assets associated with the closure of our leased offices in Austin, Texas; and (iii) $1.1 million of accelerated depreciation and operating lease assets amortization related to the office closures. We do not expect to record any additional charges related to the restructuring plan.
Cash payments of $14.4 million related to the restructuring were made during 2020, and no material amounts remain as of December 31, 2020.
v3.20.4
Defined Contribution Plan
 12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
Defined Contribution Plan Defined Contribution Plan
We maintain defined contribution 401(k) plans covering eligible U.S. employees, who may contribute up to 100% of their compensation, subject to limitations established by the Internal Revenue Code. We match employee contributions on a discretionary basis. Expense for our matching contributions was $14.6 million, $14.7 million and $13.5 million during 2020, 2019 and 2018, respectively.
We maintain defined contribution benefit plans covering eligible foreign employees. Expense related to such plans was not material in any period presented.
v3.20.4
Income Taxes
 12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Overview
We are subject to U.S. federal, state and foreign income taxes with respect to our allocable share of any taxable income or loss of Desert Newco, as well as any stand-alone income or loss we generate. Desert Newco is treated as a partnership for U.S. income tax purposes, and for most applicable state and local income tax purposes, and generally does not pay income taxes in most jurisdictions. Instead, Desert Newco's taxable income or loss is passed through to its members, including us. Despite its partnership treatment, Desert Newco is liable for income taxes in certain foreign jurisdictions in which it operates, in those states not recognizing its pass-through status and for certain of its subsidiaries not taxed as pass-through entities. We have acquired the outstanding stock of various domestic and foreign entities taxed as corporations, which are now wholly-owned by us or our subsidiaries. Where required or allowed, these subsidiaries also file and pay tax as a consolidated group for U.S. federal and state income tax purposes and internationally, primarily within the U.K., Germany and India. We anticipate this structure to remain in existence for the foreseeable future.
Benefit for Income Taxes
Our benefit for income taxes includes U.S. federal, state and foreign income taxes. The domestic and foreign components of our income (loss) before income taxes were as follows:
Year Ended December 31,
202020192018
U.S.$(423.4)$176.4 $138.9 
Foreign(72.0)(50.0)(65.9)
Income (loss) before income taxes$(495.4)$126.4 $73.0 
Our benefit for income taxes was as follows:
Year Ended December 31,
202020192018
Current:
Federal$(3.4)$(0.7)$(1.3)
State(1.1)(0.6)(0.7)
Foreign(19.3)(7.8)(10.3)
(23.8)(9.1)(12.3)
Deferred:
Federal2.9 4.4 1.4 
State1.5 0.4 1.0 
Foreign20.7 16.3 18.9 
25.1 21.1 21.3 
Benefit for income taxes$1.3 $12.0 $9.0 
A reconciliation of the statutory U.S. federal income tax rate to our effective income tax rate was as follows:
Year Ended December 31,
202020192018
Expected provision at U.S. federal statutory tax rate$104.0 $(26.5)$(15.3)
Research and development credits75.0 — — 
State taxes, net of federal benefit44.9 (1.2)2.1 
Effect of investment in Desert Newco10.4 7.1 13.1 
TRA liability adjustment(5.3)1.7 0.3 
Foreign earnings(5.4)2.1 3.1 
Uncertain tax positions(5.6)— — 
Other0.9 (4.3)0.9 
Effect of changes in valuation allowances(217.6)33.1 4.8 
Benefit for income taxes$1.3 $12.0 $9.0 
Our effective tax rate is driven by changes in valuation allowances based on current year earnings and the impact of foreign earnings primarily related to the U.K., Germany and India jurisdictions.
Deferred Taxes
The components of our deferred taxes were as follows:
December 31,
20202019
DTAs:
Investment in Desert Newco$1,099.5 $968.0 
NOLs558.1 476.1 
Credit and incentives77.1 3.0 
Deferred interest26.4 34.1 
Operating lease liabilities22.7 25.7 
TRA liability— 24.4 
Other4.7 5.9 
Valuation allowance(1,761.0)(1,497.0)
Total DTAs27.5 40.2 
DTLs:
Identified intangible assets(101.8)(112.8)
Operating lease assets(12.5)(22.7)
Total DTLs(114.3)(135.5)
Net DTLs$(86.8)$(95.3)
As a result of the organizational transactions completed prior to our initial public offering (IPO), we acquired LLC Units and recognized a DTA for the difference between the financial reporting and tax basis of our investment in Desert Newco. During 2019, the DTAs associated with our investment increased $113.7 million due to exchanges of LLC Units and stock option exercises, and we recorded additional DTAs of $94.4 million as a result of our portion of Desert Newco's tax losses. During 2020, the DTAs associated with our investment increased $130.5 million due to exchanges of LLC Units and stock option exercises, and we recorded additional DTAs of $70.0 million as a result of our portion of Desert Newco's tax losses.
On March 27, 2020, the U.S. federal government enacted the Coronavirus Aid, Relief and Economic Security Act (the CARES Act) and on December 21, 2020 enacted the Consolidated Appropriations Act, 2021, neither of which had a material impact on our benefit for income taxes.
During 2020, we completed a research and development (R&D) tax credit study for the 2017, 2018 and 2019 tax years, which resulted in a total tax credit of $79.6 million. However, we do not have sufficient tax liability to utilize the majority of these tax credits; therefore, we have established tax credit carryforwards of $77.8 million. We generated additional R&D tax credits in 2020 and expect to do so on a go forward basis.
In determining the need for a valuation allowance, we prepare quarterly estimates using historical and forecasted future operating results, based upon approved business plans, including a review of the eligible carryforward periods and tax planning strategies. Based primarily on the negative evidence outweighing the positive evidence as of December 31, 2020, including our three year cumulative GAAP loss, our historical tax losses and the difficulty in forecasting excess tax benefits related to equity-based compensation, we believe there is uncertainty as to when we will be able to utilize certain of our NOLs, credit carryforwards and other DTAs. Therefore, we have recorded a valuation allowance against the DTAs for which we have concluded it is more-likely-than-not they will not be realized.
Should our operating results continue to improve and projections show utilization of the tax attributes, we would consider that as significant positive evidence and our future reassessment would likely result in the determination that a valuation allowance is no longer required. We believe sufficient positive evidence may arise in 2021 such that we would release substantially all of the federal and state valuation allowance. If this were to occur, it would result in a reversal of substantially all of the valuation allowance with a corresponding non-cash income tax benefit, thereby increasing the total DTAs.
As of December 31, 2020, we had U.S. federal, state and foreign gross NOLs, credits and incentives, a portion of which will begin to expire in 2030, as follows:
Gross NOLs, Credits and IncentivesPortion Subject to a Valuation Allowance
Federal NOLs and credits$2,112.3 $2,112.3 
State NOLs, credits and incentives2,586.4 2,586.4 
Foreign NOLs36.0 23.9 
Total NOLs, credits and incentives$4,734.7 $4,722.6 
As of December 31, 2020, we have provided income taxes on the earnings of foreign subsidiaries, except to the extent such earnings are considered indefinitely reinvested. We have determined the amount of unrecognized DTL related to these temporary differences to be immaterial.
Uncertain Tax Positions
Our liability for unrecognized tax benefits was as follows:
December 31,
20202019
Balance at beginning of period$9.3 $2.1 
Gross increases - tax positions in prior period24.2 4.5 
Gross increases - tax positions in current period13.0 2.7 
Current year acquisitions20.2 — 
Balance at end of period$66.7 $9.3 
The total amount of gross unrecognized tax benefits was $66.7 million as of December 31, 2020, of which $35.3 million, if fully recognized, would decrease our effective tax rate.
We recognize interest accrued related to unrecognized tax benefits and penalties as income tax expense. No material amounts were recognized during any of the periods presented. We do not expect a significant decrease in our liability for unrecognized tax benefits in the next 12 months.
We have filed all income tax returns for years through 2019, other than for Germany and the Netherlands. These returns are subject to examination by the taxing authorities in the respective jurisdictions, generally for three or four years after they were filed. Although we believe the amounts reflected in our tax returns substantially comply with applicable U.S. federal, state and foreign tax regulations, the respective taxing authorities may take contrary positions based on their interpretation of the law. A tax position successfully challenged by a taxing authority could result in an adjustment to our benefit for income taxes in the period in which a final determination is made.
v3.20.4
Payable to Related Parties Pursuant to the TRAs
 12 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]  
Payables Pursuant to the TRAs Payable Pursuant to the TRAs
Concurrent with the completion of our IPO, we became a party to five TRAs with our pre-IPO owners. Under the TRAs, we were generally required to pay to such owners approximately 85% of the amount of calculated tax savings, if any, we were deemed to realize based on the relevant tax benefits allocated to us as a result of our acquisition of their LLC Units in the pre-IPO organizational transactions or from subsequent exchanges of their LLC Units (together with the corresponding shares of Class B common stock) for shares of our Class A common stock.
On July 31, 2020, we entered into settlement and release agreements with respect to four of the TRAs, and an amendment to the fifth TRA (collectively, the TRA Settlement Agreements), pursuant to which we settled all liabilities under the TRAs in exchange for aggregate payments totaling $850.0 million, of which $849.8 million was paid during 2020. Upon payment, we were released from all obligations to the parties to the TRAs, including the holders of unexchanged LLC Units. We recorded a charge of $674.7 million to our statements of operations during 2020 to adjust the liability under the TRAs from $175.3 million to the aggregate settlement amount.
As a result of the TRA Settlement Agreements, we retained all of the future cash tax savings from the utilization of the tax attributes we acquired as a result of acquisitions or exchanges of LLC Units subject to the TRAs. These attributes entitle us to the depreciation and amortization deductions previously allocable to the original owner of such units. Unutilized deductions related to these items are converted to NOL carryforwards.
Upon execution of the TRA Settlement Agreements, we generated approximately $180.0 million in additional DTAs. However, given that the negative evidence, including cumulative tax losses in recent years, continues to outweigh the positive evidence, we recorded a full valuation allowance against these DTAs. See Note 15 for additional discussion of the valuation allowances associated with our DTAs.
v3.20.4
Income (Loss) Per Share
 12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Income (Loss) Per Share Income (Loss) Per ShareBasic income (loss) per share is computed by dividing net income (loss) attributable to GoDaddy Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted income (loss) per share is computed giving effect to all potentially dilutive shares unless their effect is antidilutive.
A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income (loss) per share is as follows:
Year Ended December 31,
202020192018
Numerator:
Net income (loss)(494.1)138.4 82.0 
Less: net income attributable to non-controlling interests1.0 1.4 4.9 
Net income (loss) attributable to GoDaddy Inc. $(495.1)$137.0 $77.1 
Denominator:
Weighted-average shares of Class A common stock outstanding—basic168,636 173,431 155,234 
Effect of dilutive securities:
Class B common stock— 2,318 16,534 
Stock options— 4,369 7,123 
RSUs, PSUs and ESPP shares— 1,603 2,462 
Weighted-average shares of Class A Common stock outstanding—diluted168,636 181,721 181,353 
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock—basic$(2.94)$0.79 $0.50 
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock—diluted(1)
$(2.94)$0.76 $0.45 
_________________________________
(1) The diluted income (loss) per share calculations exclude net income attributable to non-controlling interests, unless the effect is antidilutive.
The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted income (loss) per share because the effect of including such shares would have been antidilutive:
Year Ended December 31,
202020192018
Class B common stock1,145 — — 
Stock options3,259 1,705 742 
RSUs, PSUs and ESPP shares2,045 79 240 
6,449 1,784 982 
Shares of Class B common stock do not share in our earnings and are not participating securities. Accordingly, separate presentation of income per share of Class B common stock under the two-class method has not been presented. Each share of Class B common stock (together with a corresponding LLC Unit) is exchangeable for one share of Class A common stock.
v3.20.4
Geographic Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Geographic Information Geographic Information
Revenue by geography is based on the customer's billing address and was as follows:
Year Ended December 31,
202020192018
U.S.$2,211.3 $1,979.6 1,723.9 
International1,105.4 1,008.5 936.2 
$3,316.7 $2,988.1 $2,660.1 
No individual international country represented more than 10% of total revenue in any period presented.
Property and equipment, net by geography was as follows:
Year Ended December 31,
20202019
U.S.198.3 200.4 
France27.0 24.4 
All other international32.0 33.8 
$257.3 $258.6 
No other individual international country represented more than 10% of property and equipment, net in any period presented.
v3.20.4
Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss
The following table presents AOCI activity in equity:
Foreign Currency Translation Adjustments
Net Unrealized Gains (Losses) on Cash Flow Hedges(1)
Total AOCI
Gross balance as of December 31, 2018(2)
$(92.3)$(22.4)$(114.7)
Other comprehensive income (loss) before reclassifications37.7 (60.7)(23.0)
Amounts reclassified from AOCI— 58.8 58.8 
Other comprehensive income (loss) - 201937.7 (1.9)35.8 
$(54.6)$(24.3)(78.9)
Less: AOCI attributable to non-controlling interests0.7 
Balance as of December 31, 2019$(78.2)
Gross balance as of December 31, 2019(2)
$(54.6)$(24.3)$(78.9)
Other comprehensive income (loss) before reclassifications(44.2)105.9 61.7 
Amounts reclassified from AOCI— (114.4)(114.4)
Other comprehensive income (loss) - 2020(44.2)(8.5)(52.7)
$(98.8)$(32.8)(131.6)
Less: AOCI attributable to non-controlling interests0.6 
Balance as of December 31, 2020$(131.0)
_________________________________
(1) Amounts shown for our foreign exchange forward contracts include gains and losses realized upon contract settlement but not yet recognized into earnings from AOCI.
(2) Beginning balance is presented on a gross basis, excluding the allocation of AOCI attributable to non-controlling interests.
See Note 10 for the effect on net income of amounts reclassified from AOCI related to our cash flow hedging instruments. The income tax impact associated with these reclassified amounts was not material in any period presented.
v3.20.4
Subsequent Events
 12 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events Subsequent EventsIn February 2021, we acquired Poynt Co. for $329.2 million in cash paid at closing and an additional $45.0 million in deferred cash payments subject to certain performance and employment conditions over the three years subsequent to the closing date. Poynt offers a suite of products allowing small businesses to sell and accept payments anywhere, including point-of-sale systems, payments, invoicing and transaction management.
v3.20.4
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Basis of Presentation Basis of PresentationOur financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP), and include our accounts and the accounts of our subsidiaries. All material intercompany accounts and transactions have been eliminated
Prior Period Reclassifications
Prior Period Reclassifications
Reclassifications of certain immaterial prior period amounts have been made to conform to the current period presentation.
Use of Estimates
Use of Estimates
GAAP requires us to make estimates and assumptions affecting amounts reported in our financial statements. Our more significant estimates include:
•the relative stand-alone selling price of the indicated performance obligations included in revenue arrangements with multiple performance obligations;
•the estimated reserve for refunds;
•the fair value of assets acquired and liabilities assumed in business acquisitions;
•the assessment of recoverability of long-lived assets;
•the estimated useful lives of intangible and depreciable assets;
•the fair value of financial instruments;
•the recognition, measurement and valuation of current and deferred income taxes; and
•the recognition and measurement of loss contingencies, indirect tax liabilities and certain accrued liabilities.
We periodically evaluate our estimates and adjust prospectively, if necessary. We believe our estimates and assumptions are reasonable; however, actual results may differ.
Segment
Segment
As of December 31, 2020, our chief operating decision maker function was comprised of our Chief Executive Officer who reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance for the entire company. Accordingly, we have a single operating and reportable segment.
Cash and Cash Equivalents Cash and Cash EquivalentsCash and cash equivalents includes cash on hand, other highly liquid investments with a remaining maturity of 90 days or less at the date of acquisition and receivables related to third-party payment processor transactions normally received within 72 hours.
Short-Term Investments
Short-Term Investments
Our short-term investments consist of various instruments with a remaining maturity in excess of 90 days at the date of acquisition, which are carried at fair value. The estimated fair value of our short-term investments is determined based on quoted market prices and approximated historical cost. We did not have any material realized or unrealized gains or losses on sales of short-term investments during any of the periods presented.
We classify our short-term investments as available-for-sale at the time of purchase and reevaluate such classification at each balance sheet date. We may sell our short-term investments at any time for use in current operations or for other purposes, such as consideration for acquisitions, even if they have not yet reached maturity. As a result, we classify our short-term investments, including investments with maturities beyond 12 months, as current assets.
Registry Deposits
Registry Deposits
Registry deposits represent amounts on deposit with, or receivable from, various domain name registries to be used by us to make payments for future domain registrations or renewals.
Prepaid Domain Name Registry Fees
Prepaid Domain Name Registry Fees
Prepaid domain name registry fees represent amounts charged by a registry at the time a domain is registered or renewed. These amounts are amortized to cost of revenue over the same period revenue is recognized for the related domain registration contracts.
Property and Equipment
Property and Equipment
Property and equipment is stated at cost. Depreciation is recorded over the estimated useful lives of the applicable assets using the straight-line method beginning on the date an asset is placed in service. We regularly evaluate the estimated useful lives to determine whether events or changes in circumstances warrant a revision to the remaining period of depreciation.
Capitalized Internal-Use Software Costs
Capitalized Internal-Use Software Costs
Costs incurred to develop software for internal-use during the application development phase are capitalized and amortized over such software's estimated useful life. Costs related to the design or maintenance of internal-use software are included in technology and development expenses as incurred. We capitalized $9.9 million and $13.4 million of such costs to property and equipment during 2020 and 2019, respectively.
Goodwill
Goodwill and Indefinite-Lived Intangible Assets
Goodwill represents the excess of the purchase price over the estimated fair value of net tangible and identifiable intangible assets acquired in business combinations. Indefinite-lived intangible assets consist of the GoDaddy trade names and branding, our domain portfolio and certain contractual-based assets. Goodwill and indefinite-lived intangible assets are not amortized to earnings, but are assessed for impairment at least annually. As individual domains are sold, our indefinite-lived domain portfolio intangible asset is reduced by the allocated carrying cost of each domain, which is included in cost of revenue.
Goodwill in our single reportable segment is assessed for impairment annually during the fourth quarter of each year. We also perform an assessment at other times if events or changes in circumstances indicate the carrying value may not be recoverable. If, based on qualitative analysis, we determine it is more-likely-than-not the fair value of our reporting unit is less than its carrying amount, a quantitative impairment test is performed. Our qualitative analysis did not indicate impairment of our goodwill during any of the periods presented.
Indefinite-Lived Intangible Assets Our indefinite-lived trade names and branding, domain portfolio and contractual-based assets are reviewed for impairment annually during the fourth quarter of each year. We also perform assessments at other times if events or changes in circumstances indicate the carrying amounts of these assets may not be fully recoverable. Any identified impairment losses are treated as permanent reductions in the carrying amounts of the assets. Our qualitative analysis did not indicate impairment of our indefinite-lived assets during any of the periods presented.
Finite-Lived Intangible Assets
Long-Lived and Finite-Lived Intangible Assets
Finite-lived intangible assets are amortized over the following estimated useful lives:
Customer relationships
2-9 years
Developed technology
3-7 years
Trade names and other
1-10 years
Our finite-lived intangible assets are primarily amortized on a straight-line basis. We annually evaluate the estimated remaining useful lives of our intangible assets to determine whether events or changes in circumstances warrant a revision to the remaining period of amortization.
Impairment of Long-Lived and Finite-Lived Intangible Assets Long-lived and finite-lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be fully recoverable. An impairment loss is recognized if the sum of the expected long-term undiscounted cash flows the asset is expected to generate is less than its carrying amount. Any write-downs are treated as permanent reductions in the carrying amount of the respective asset.
Debt Issuance Costs
Debt Issuance Costs
We defer and amortize issuance costs, underwriting fees and related expenses incurred in connection with the issuance of debt instruments using the effective interest method over the terms of the respective instruments. Debt issuance costs, other than those associated with our revolving credit loan, are reflected as a direct reduction of the carrying amount of the related debt liability. Debt issuance costs related to our revolving credit loan are reflected as an asset.
Derivative Financial Instruments
Derivative Financial Instruments
We are exposed to changes in foreign currency exchange rates as well as changes in interest rates associated with our variable-rate debt. Consequently, we use derivative financial instruments to manage and mitigate such risks. We do not enter into derivative transactions for speculative or trading purposes.
We utilize a variety of derivative instruments, all of which are designated as cash flow hedges. We expect each derivative instrument qualifying for hedge accounting will be highly effective at reducing the risk associated with the exposure being hedged. For each derivative instrument designated as a hedge, we formally document the related risk management strategy and objective, including identification of the hedging instrument, the hedged item and the risk of exposure, as well as how hedge effectiveness will be assessed prospectively and retrospectively over the instrument's term. To assess effectiveness of our swap instruments, we use regression analysis performed utilizing the Hypothetical Derivative Method to compare the change in fair value of the derivative instrument designated as the hedging instrument to the change in the fair value of a similarly modeled hypothetical derivative using the same discount rate. Following our initial quantitative assessment, we may perform subsequent assessments on a qualitative basis unless facts and circumstances change such that we can no longer qualitatively assert that our hedges are highly effective.
We reflect unrealized gains or losses on our cash flow hedges as a component of accumulated other comprehensive income (loss) (AOCI). Gains and losses, once realized, are recorded as a component of AOCI and are amortized to earnings over the same period in which the underlying hedged amounts are recognized. At inception, and each reporting period, we evaluate the effectiveness of each of our hedges, and all hedges were determined to be effective.
Our derivative instruments are recorded at fair value on a gross basis. For cash flow reporting purposes, proceeds received or amounts paid upon the settlement of a derivative instrument are classified in the same manner as the related item being hedged, primarily within cash flows from operating activities.
We are exposed to changes in foreign currency exchange rates, primarily relating to intercompany debt and certain forecasted sales transactions denominated in currencies other than the U.S. dollar, as well as to changes in interest rates as a result of our variable-rate debt. Consequently, we use derivative financial instruments to manage and mitigate such risk. We do not enter into derivative transactions for speculative or trading purposes.
We utilize a variety of derivative instruments, all of which are designated as cash flow hedges, including:
•foreign exchange forward contracts to hedge certain forecasted sales transactions denominated in foreign currency;
•a cross-currency swap arrangement used to manage variability due to movements in foreign currency exchange rates related to a Euro-denominated intercompany loan; and
•pay-fixed rate, receive-floating rate interest rate swap arrangements to effectively convert portions of our variable-rate debt to fixed.
Leases
Leases
We lease office and data center space in various locations. We determine whether a contract contains a lease at contract inception. We have lease agreements with lease and non-lease components and have elected to account for such components as a single lease component. This election is made by class of underlying asset and was elected for our leases of office space, data center space and server equipment. We initially recognize and measure contracts containing a lease and determine lease classification at commencement. Right-of-use (ROU) assets and operating lease liabilities are measured based on the estimated present value of lease payments over the lease term. In determining the present value of lease payments, we use our estimated incremental borrowing rate when the rate implicit in the lease cannot be readily determined. The estimated incremental borrowing rate is based upon information available at lease commencement including publicly available data for debt instruments. The lease term includes periods covered by options to extend when it is reasonably certain we will exercise such options as well as periods subsequent to an option to terminate the lease if it is reasonably certain we will not exercise the termination option. Operating lease costs are recognized on a straight-line basis over the lease term while finance leases result in a front-loaded expense pattern. Variable lease costs are recognized as incurred. On our balance sheets, assets and liabilities associated with operating leases are included within operating lease assets, accrued expenses and other current liabilities and operating lease liabilities. Assets and liabilities associated with finance leases are included in property and equipment, net, accrued expenses and other current liabilities and other long-term liabilities.
Prior to January 1, 2019, rent expense under operating leases was recognized on a straight-line basis over the lease term taking into consideration rent abatements, scheduled rent increases and any lease incentives.
Foreign Currency
Foreign Currency
Our functional and reporting currency is the U.S. dollar. Assets denominated in foreign currencies are remeasured into United States (U.S.) dollars at period-end exchange rates. Foreign currency-based revenue and expense transactions are measured at transaction date exchange rates. Foreign currency remeasurement gains and losses are recorded in other income (expense), net and were $(12.3) million, $(7.1) million and $(10.4) million during 2020, 2019 and 2018, respectively.
For certain of our foreign subsidiaries whose functional currency is other than the U.S. dollar, we translate revenue and expense transactions at average exchange rates. We translate assets and liabilities at period-end exchange rates and include foreign currency translation gains and losses as a component of AOCI.
Revenue Recognition
Revenue Recognition
Revenue is recognized when control of the promised product or service (product) is transferred to our customers, in an amount reflecting the consideration we expect to be entitled to in exchange for such product.
We typically receive payment at the time of sale, the purpose of which is to provide our customers with a simplified and predictable way of purchasing our products. We have determined that our contracts do not include a significant financing component. Payments received in advance of our performance are recorded as deferred revenue. Revenue is recognized net of allowances for returns and applicable transaction-based taxes collected from customers.
Our products are generally sold with a right of return within our policy, which are accounted for as variable consideration when estimating the amount of revenue to recognize. Refunds are estimated at contract inception using the expected value method based on historical refund experience and updated each reporting period as additional information becomes available and only to the extent it is probable a significant reversal of any incremental revenue will not occur. Refunds result in a reduced amount of revenue recognized over the contract term of the applicable product.
Our revenue is categorized and disaggregated as reflected in our statements of operations, as follows:
Domains. Domains revenue primarily consists of domain registrations and renewals, aftermarket domain sales, domain add-ons such as domain protection and fee surcharges paid to ICANN. Consideration is recorded as deferred revenue when received, which is typically at the time of sale, and revenue, other than for aftermarket domain sales, is recognized ratably over the period in which the performance obligations are satisfied, which is generally over the contract term. Aftermarket domain revenue is recognized at the time when ownership of the domain is transferred to the buyer.
Hosting and presence. Hosting and presence revenue primarily consists of website hosting products, website building products, website security products and online visibility products. Consideration is recorded as deferred revenue when received, which is typically at the time of sale, and revenue is recognized ratably over the period in which the performance obligations are satisfied, which is generally over the contract term.
Business applications. Business applications revenue primarily consists of third-party productivity applications, email accounts, email marketing tools and telephony solutions. Consideration is recorded as deferred revenue when received, which is typically at the time of sale, and revenue is recognized ratably over the period in which the performance obligations are satisfied, which is generally over the contract term.
See Note 7 for additional information regarding our deferred revenue. See Note 18 for our revenue disaggregated by geography.
Performance Obligations
Our contracts with customers may include multiple performance obligations, including a combination of some or all of the following products: domain registrations, website hosting products, website building products, website security products and other cloud-based products. Judgment may be required in determining whether products are considered distinct performance obligations that should be accounted for separately or as one combined performance obligation. Revenue is recognized ratably over the period in which the performance obligations are satisfied, which is generally over the contract term.
For each domain registration or renewal we provide, we have one performance obligation to our customers consisting of two promises: 1) to ensure the exclusive use of the domain during the applicable registration term and 2) to ensure the domain is accessible and appropriately directed to its underlying content. After the contract term expires, unless renewed, the customer can no longer access or use the domain. We have determined these promises are not distinct within the context of our contracts as they are highly interdependent and interrelated and are inputs to a combined benefit. Accordingly, we concluded that each domain registration or renewal represents one product offering and is a single performance obligation.
We may also offer specific arrangements, such as our Websites + Marketing solution, in which we include promises to transfer multiple performance obligations in a single product offering. For such arrangements, we allocate the transaction price to each of the underlying distinct performance obligations based on its relative stand-alone selling price (SSP), as described below.
We have determined that generally each of our other products constitutes an individual product offering to our customers, and therefore have concluded that each is a single performance obligation.
For arrangements with multiple performance obligations, we allocate revenue to each distinct performance obligation based on its relative SSP. We use judgment to determine SSP based on prices charged to customers for individual products, taking into consideration factors including historical and expected discounting practices, the size, volume and term length of transactions, customer demographics, the geographic areas in which our products are sold and our overall go-to-market strategy.
Principal versus Agent Considerations
We sell our products directly to customers and also through a network of resellers. In certain cases, we act as a reseller of products provided by others. The determination of gross or net revenue recognition is reviewed on a product-by-product basis and is dependent on our determination as to whether we act as principal or agent in the transaction. Revenue associated with sales through our network of resellers, for certain aftermarket domain sales and for third-party offerings is generally recorded on a gross basis as we have determined that we control the product before transferring it to our end customers.
Assets Recognized from Contract Costs
Commissions paid to our resellers represent an incremental cost of obtaining a contract with a customer. We capitalize and amortize such amounts to cost of revenue consistent with the pattern of transfer of the product to which the asset relates. Amounts capitalized and amortized were not material during any of the periods presented.
Fees paid to various registries at the inception of a domain registration or renewal represent costs to fulfill a contract. We capitalize and amortize these prepaid domain name registry fees to cost of revenue consistent with the pattern of transfer of the product to which the asset relates. Amortization expense of such asset was $644.6 million, $614.7 million and $597.1 million during 2020, 2019 and 2018, respectively.
No other material contract costs were capitalized during any of the periods presented.
Cost of Revenue (excluding depreciation and amortization)
Costs of revenue are the direct costs we incur in connection with selling an incremental product to our customers. Substantially all cost of revenue relates to domain registration fees paid to the various domain registries, payment processing fees, third-party commissions and licensing fees for third-party productivity applications.
Technology and Development
Technology and Development
Technology and development expenses represent the costs associated with the creation, development and distribution of our products and websites. These expenses primarily consist of personnel costs associated with the design, development, deployment, testing, operation and enhancement of our products, as well as costs associated with the data centers and systems infrastructure supporting those products, excluding depreciation expense.
Marketing and Advertising, Customer Care and General and Administrative
Marketing and Advertising
Marketing and advertising expenses represent the costs associated with attracting and acquiring customers, primarily consisting of fees paid to third parties for marketing and advertising campaigns across a variety of channels. These expenses also include personnel costs and affiliate program commissions.
Advertising costs are expensed either as incurred, at the time a commercial initially airs or when a promotion first appears in the media. Advertising expenses were $329.6 million, $260.0 million and $231.1 million during 2020, 2019 and 2018, respectively. Prepaid advertising, which is included within prepaid expenses and other current assets, was $9.3 million and $6.3 million at December 31, 2020 and 2019, respectively.
Customer Care
Customer care expenses represent the costs to guide and service our customers, primarily consisting of personnel costs.
General and Administrative
General and administrative expenses primarily consist of personnel costs for our administrative functions, professional service fees, office rent for all locations, all employee travel expenses, acquisition-related expenses and other general costs.
Equity-Based Compensation
Equity-Based Compensation
We have granted stock options at exercise prices equal to the fair market value of our Class A common stock on the grant date. We have granted both options and restricted stock units (RSUs) vesting solely upon the continued service of the recipient as well as performance-based awards (PSUs) with vesting based on either (i) our achievement of specified financial targets or (ii) our relative total stockholder return (TSR) as compared to a selected index of public internet companies. We recognize the accounting grant date fair value of equity-based awards as compensation expense over the required service period of each award, taking into account the probability of our achievement of associated performance targets.
We apply the straight-line attribution method to recognize equity-based compensation expense associated with awards not subject to graded vesting. For awards subject to graded vesting, we recognize expense separately for each vesting tranche. We regularly estimate when and if PSUs will be earned and record expense over the estimated service period only for awards considered probable of being earned. Any previously recognized expense is reversed in the period in which an award is determined to no longer be probable of being earned.
On the settlement date of each three-year performance period associated with our TSR-based PSU grants, and only if a participant remains a Service Provider (as defined in the 2015 Equity Incentive Plan) on such date, a participant will receive shares of our Class A common stock ranging from 0% to 200% of the originally granted PSUs based on our relative TSR as compared to the companies within the selected index. Vesting of the PSUs is subject to the TSR market condition as well as approval of the performance by our board of directors following the end of each performance period.
Equity-based awards are accounted for using the fair value method. RSUs and PSUs are measured based on the fair market value of the underlying common stock on their respective accounting grant dates. Grant date fair values for stock options are determined using the Black-Scholes option pricing model and a single option award approach. The accounting grant date for PSUs is the date on which the applicable performance criteria are approved by our board of directors (the Board). The fair value of shares issued under our employee stock purchase plan is estimated on the first day of each offering period using the Black-Scholes option pricing model.
We utilize an estimated forfeiture rate in our equity-based compensation expense calculations, which is based on an analysis of historical data. The cumulative effect of any changes to the forfeiture rate is recognized in the period in which the estimate is changed.
Key assumptions used in the determination of fair value for stock options are as follows:
Expected term. Because of the lack of sufficient historical data, we use the simple average of the vesting period and the contractual term to estimate the period the stock options are expected to be outstanding.
Expected volatility. We determine the expected stock price volatility based on the historical volatility of our Class A common stock and the historical volatilities of an industry peer group.
Expected dividend yield. We do not use a dividend rate due to our expectation of not paying dividends in the foreseeable future.
Risk-free interest rate. We base the risk-free interest rate on the yield curve of a zero-coupon U.S. Treasury bond with a maturity equal to the expected term of the option on the grant date.
We estimate the grant-date fair value of the TSR-based PSUs using a Monte Carlo simulation which requires assumptions for expected volatility, risk-free rate of return and dividend yield. Expected volatilities for GoDaddy and the companies within the index are derived using historical volatilities over a period equal to the length of the performance period. We base the risk-free rate of return on the yield of a zero-coupon U.S. Treasury bond with a maturity equal to the performance period, and assume a 0% dividend rate. Equity-based compensation expense for these PSUs is recognized over the requisite service period, regardless of whether the TSR market condition is satisfied.
Income Taxes
Income Taxes
We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets (DTAs) and liabilities (DTLs) for the expected future tax consequences of events included in the financial statements. Under this method, we determine DTAs and DTLs on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on DTAs and DTLs is recognized in the period in which the enactment date occurs.
We recognize DTAs to the extent we believe these assets are more-likely-than-not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent results of operations.
We record uncertain tax positions on the basis of a two-step process in which (1) we determine whether it is more-likely-than-not the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions meeting the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50% likely to be realized upon ultimate settlement with the related tax authority.
Interest and penalties related to income taxes are included in benefit (provision) for income taxes, and were not material during any of the periods presented.
Fair Value Measurements
Fair Value Measurements
Fair value is defined as an exit price, representing the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. The framework for measuring fair value provides a three-tier hierarchy prioritizing inputs to valuation techniques used in measuring fair value as follows:
Level 1— Observable inputs such as quoted prices for identical assets or liabilities in active markets;
Level 2— Inputs, other than quoted prices for identical assets or liabilities in active markets, which are observable either directly or indirectly; and
Level 3— Unobservable inputs in which there is little or no market data requiring the reporting entity to develop its own assumptions.
We hold certain assets required to be measured at fair value on a recurring basis. These may include reverse repurchase agreements, commercial paper or other securities, which are classified as either cash and cash equivalents or short-term investments. We classify these assets within Level 1 or Level 2 because we use either quoted market prices or alternative pricing sources utilizing market observable inputs to determine their fair value. In addition, Level 2 assets and liabilities include derivative financial instruments associated with hedging activity, as further discussed in Note 10. Derivative financial instruments are measured at fair value on the contract date and are subsequently remeasured each reporting period using inputs such as spot rates, discount rates and forward rates. There are not active markets for the hedge contracts themselves; however, the inputs used to calculate the fair value of the instruments are tied to active markets.
Business Combinations
Business Combinations
We include the results of operations of acquired businesses as of the respective acquisition dates. Purchase price is allocated to the tangible and intangible assets acquired and the liabilities assumed based on their estimated fair values, with the excess recorded as goodwill. If applicable, we estimate the fair value of contingent consideration payments in determining the purchase price. Measurement period adjustments to provisional purchase price allocations are recognized in the period in which they are determined, with the effect on earnings of changes in depreciation, amortization or other income resulting from such changes calculated as if the accounting had been completed at the acquisition date. Contingent consideration is adjusted to fair value in subsequent periods as an increase or decrease in general and administrative expenses. Acquisition-related costs are expensed as incurred.
Concentrations of Risks
Concentrations of Risks
Our financial instruments exposed to concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. Although we deposit cash with multiple banks, these deposits, including those held in foreign branches of global banks, may exceed the amount of insurance provided on such deposits. These deposits may generally be redeemed upon demand and bear minimal risk.
No single customer represented over 10% of our total revenue for any period presented.
In order to reduce the risk of downtime of the products we provide, we have established data centers in various geographic regions. We have internal procedures to restore products in the event of a service disruption or disaster at any of our data center facilities. We serve our customers and users from data center facilities operated either by us or third parties, which are most significantly located in Arizona, California, Virginia, France, the Netherlands and Singapore. Even with these procedures for disaster recovery in place, the availability of our products could be significantly interrupted during the implementation of restoration procedures.
Recent Accounting Pronouncements
Recent Accounting Pronouncements
In June 2016, the Financial Accounting Standards Board (FASB) issued new guidance requiring all expected credit losses for financial instruments held at the reporting date to be measured based on historical experience, current conditions and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial instruments measured at amortized cost and also applies to some off-balance sheet credit exposures. Our adoption of this guidance on a modified retrospective basis on January 1, 2020 did not have a material impact as credit losses have not been, and are not expected to be, significant based on historical collection trends, the financial condition of payment partners and external market factors.
In August 2018, the FASB issued new guidance to modify or eliminate certain fair value disclosures and require additional disclosures for Level 3 measurements. Our adoption of this guidance on January 1, 2020 did not have a material impact.
In August 2018, the FASB issued new guidance aligning the accounting for implementation costs incurred in cloud computing arrangements with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. We adopted this guidance on a prospective basis on January 1, 2020. Amounts capitalized have not been material.
In December 2019, the FASB issued new guidance to simplify the accounting for income taxes primarily by eliminating certain exceptions allowable under the existing guidance related to the approach for intraperiod tax allocations, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. Our adoption of this guidance on January 1, 2020 did not have a material impact.
In March 2020, the FASB issued guidance providing temporary optional expedients and exceptions to ease the financial reporting burden of the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. The guidance is applicable to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met and to other derivative instruments if there is a change in the interest rate used for discounting, margining and contract price alignment. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. We continue to evaluate our contractual arrangements and hedging relationships that reference LIBOR.
v3.20.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Property, Plant and Equipment
Property and equipment consisted of the following:
Estimated
Useful Lives		December 31,
20202019
Computer equipment3 years$464.1 $434.8 
Software
3-5 years
64.8 55.9 
LandIndefinite9.0 9.0 
Buildings, including improvements
5-40 years
146.6 145.5 
Leasehold improvementsLesser of useful life or remaining lease term98.2 99.4 
Other
1-20 years
27.0 25.7 
Total property and equipment809.7 770.3 
Less: accumulated depreciation and amortization(552.4)(511.7)
Property and equipment, net$257.3 $258.6 
Finite-Lived Intangible Assets
Finite-lived intangible assets are amortized over the following estimated useful lives:
Customer relationships
2-9 years
Developed technology
3-7 years
Trade names and other
1-10 years
Intangible assets, net are summarized as follows:
December 31, 2020
Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio250.3 n/a250.3 
Contractual-based assets67.0 n/a67.0 
Finite-lived intangible assets:
Customer-related857.0 $(534.7)322.3 
Developed technology188.1 (90.7)97.4 
Trade names and other106.9 (33.8)73.1 
$1,914.3 $(659.2)$1,255.1 

December 31, 2019
Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio148.1 n/a148.1 
Finite-lived intangible assets:
Customer-related838.4 $(475.6)362.8 
Developed technology151.5 (67.3)84.2 
Trade names and other81.4 (23.8)57.6 
$1,664.4 $(566.7)$1,097.7 
Weighted-Average Assumptions Used in Estimating the Fair Value of Stock Options Granted
The fair value of stock options granted was estimated using the following weighted-average assumptions:
Year Ended December 31,
202020192018
Expected term (in years)6.06.16.1
Expected volatility32.3 %31.2 %31.5 %
Risk-free interest rate0.9 %2.2 %2.7 %
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables set forth assets and liabilities measured at fair value on a recurring basis:
December 31, 2020
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents:
Money market funds$98.0 $— $— $98.0 
Total assets measured and recorded at fair value$98.0 $— $— $98.0 
Liabilities:
 Derivative liabilities$— $216.4 $— $216.4 
Total liabilities measured and recorded at fair value$— $216.4 $— $216.4 

December 31, 2019
Assets:Level 1Level 2Level 3Total
 Cash and cash equivalents:
Reverse repurchase agreements(1)
$— $70.0 $— $70.0 
Commercial paper— 102.0 — 102.0 
Money market funds444.0 — — 444.0 
 Short-term investments:
Commercial paper and other0.7 22.9 — 23.6 
Total assets measured and recorded at fair value$444.7 $194.9 $— $639.6 
Liabilities:
 Derivative liabilities$— $93.8 $— $93.8 
Total liabilities measured and recorded at fair value$— $93.8 $— $93.8 
_________________________________
(1) Reverse repurchase agreements include a $70.0 million repurchase agreement with Morgan Stanley, callable with 31 days notice.
v3.20.4
Business Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2020
Business Combinations [Abstract]  
Summary of the Estimated Acquisition Date Fair Values of Assets Acquired and Liabilities Assumed
The following table summarizes the estimated acquisition date fair values of the aggregate assets acquired and liabilities assumed:
Total purchase consideration$455.8 
Fair value of assets acquired and liabilities assumed:
Cash and cash equivalents4.5 
Domain portfolio indefinite-lived intangible assets88.5 
Contractual-based indefinite-lived intangible assets67.0 
Finite-lived intangible assets96.2 
Deferred revenue(17.1)
Other assets and liabilities, net(20.6)
Total assets acquired, net of liabilities assumed218.5 
Goodwill$237.3 
The following table summarizes the final estimated acquisition date fair values of the assets acquired and liabilities assumed:
Total purchase consideration$182.0 
Fair value of assets acquired and liabilities assumed:
Cash and cash equivalents8.0 
Intangible assets, net35.7 
Other assets and liabilities, net3.2 
Total assets acquired, net of liabilities assumed46.9 
Goodwill$135.1 
v3.20.4
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Changes in Goodwill
The following table summarizes changes in our goodwill balance:
Balance at December 31, 2018$2,948.0 
Goodwill related to 2019 acquisitions20.9 
Impact of foreign currency translation7.6 
Balance at December 31, 20192,976.5 
Goodwill related to 2020 acquisitions237.3 
Impact of foreign currency translation61.3 
Balance at December 31, 2020$3,275.1 
Summary of Finite-Lived Intangible Assets
Finite-lived intangible assets are amortized over the following estimated useful lives:
Customer relationships
2-9 years
Developed technology
3-7 years
Trade names and other
1-10 years
Intangible assets, net are summarized as follows:
December 31, 2020
Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio250.3 n/a250.3 
Contractual-based assets67.0 n/a67.0 
Finite-lived intangible assets:
Customer-related857.0 $(534.7)322.3 
Developed technology188.1 (90.7)97.4 
Trade names and other106.9 (33.8)73.1 
$1,914.3 $(659.2)$1,255.1 

December 31, 2019
Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio148.1 n/a148.1 
Finite-lived intangible assets:
Customer-related838.4 $(475.6)362.8 
Developed technology151.5 (67.3)84.2 
Trade names and other81.4 (23.8)57.6 
$1,664.4 $(566.7)$1,097.7 
Summary of Indefinite-Lived Intangible Assets
Intangible assets, net are summarized as follows:
December 31, 2020
Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio250.3 n/a250.3 
Contractual-based assets67.0 n/a67.0 
Finite-lived intangible assets:
Customer-related857.0 $(534.7)322.3 
Developed technology188.1 (90.7)97.4 
Trade names and other106.9 (33.8)73.1 
$1,914.3 $(659.2)$1,255.1 

December 31, 2019
Gross Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio148.1 n/a148.1 
Finite-lived intangible assets:
Customer-related838.4 $(475.6)362.8 
Developed technology151.5 (67.3)84.2 
Trade names and other81.4 (23.8)57.6 
$1,664.4 $(566.7)$1,097.7 
Expected Future Amortization Expense of Finite-Lived Intangible Assets
Based on the balance of finite-lived intangible assets at December 31, 2020, expected future amortization expense is as follows:
Year Ending December 31:
2021$111.5 
2022108.3 
202389.4 
202476.3 
202572.4 
Thereafter34.9 
$492.8 
v3.20.4
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Approved Share Repurchase Programs and Open Market Repurchases of Common Stock
As of December 31, 2020, we had the following approved share repurchase programs:
Board Approval Date
Total Authorized Amount(1) ($)
Authorized Amount Remaining ($)
May 2020500.0 500.0 
October 2019500.0 — 
November 2018500.0 — 
_________________________________
(1) The authorized amounts exclude commissions applicable to any repurchases.
Pursuant to these programs, we made the following open market repurchases of our Class A common stock:
Year Ended December 31,Number of Shares Repurchased (#)
Aggregate Purchase Price(1) ($)
20209,986 541.7 
20197,125 458.6 
2018— — 
_________________________________
(1) The aggregate purchase price includes commissions paid in connection with the repurchases.
v3.20.4
Equity-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
Equity Plan Activity
The following table summarizes stock option activity:
Number of
Shares of Class A Common Stock (#)		Weighted-
Average
Grant-
Date Fair
Value ($)		Weighted-
Average
Exercise
Price ($)		Weighted-
Average
Remaining
Contractual
Life
(in years)		Aggregate
Intrinsic
Value ($)
Outstanding at December 31, 201713,460 18.63 
Granted1,208 22.19 61.49 
Exercised(4,779)14.08 246.4 
Forfeited(362)34.05 
Outstanding at December 31, 20189,527 25.77 
Granted1,401 24.91 71.74 
Exercised(3,976)17.78 213.8 
Forfeited(648)54.43 
Outstanding at December 31, 20196,304 38.08 
Granted154 22.33 68.05 
Exercised(2,613)29.71 121.0 
Forfeited(417)62.82 
Outstanding at December 31, 20203,428 42.79 6.0137.6 
Vested at December 31, 20202,458 33.90 5.2120.6 
Summary of Stock Award Activity
The following table summarizes stock award activity:
Number of
Shares of Class A Common Stock (#)
Outstanding at December 31, 2017(1)
4,199 
Granted3,152 
Vested(1,545)
Forfeited(450)
Outstanding at December 31, 2018(1)
5,356 
Granted3,057 
Vested(2,187)
Forfeited(986)
Outstanding at December 31, 2019(1)
5,240 
Granted4,157 
Vested(2,368)
Forfeited(896)
Outstanding at December 31, 20206,133 
_________________________________
(1) Includes financial-based PSUs for which performance targets have not yet been established, and which are not yet considered granted for accounting purposes. The balance of outstanding awards is comprised of the following:
Number of Shares of Class A Common Stock (#)Weighted Average Fair Value Per Share ($)
RSUs3,952 53.77
Financial-based PSUs granted for accounting purposes505 63.18
Financial-based PSUs not yet granted for accounting purposes899 N/A
Outstanding at December 31, 20185,356 
RSUs4,247 65.12
Financial-based PSUs granted for accounting purposes401 73.28
Financial-based PSUs not yet granted for accounting purposes592 N/A
Outstanding at December 31, 20195,240 
RSUs5,356 70.54
TSR-based RSUs349 106.14
Financial-based PSUs granted for accounting purposes223 66.97
Financial-based PSUs not yet granted for accounting purposes205 N/A
Outstanding at December 31, 20206,133 
v3.20.4
Deferred Revenue (Tables)
 12 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
Composition of Deferred Revenue
Deferred revenue consisted of the following:
December 31,
20202019
Current:
Domains$810.7 $752.7 
Hosting and presence574.8 526.7 
Business applications325.8 265.0 
$1,711.3 $1,544.4 
Noncurrent:
Domains$410.4 $382.2 
Hosting and presence218.1 187.2 
Business applications96.6 85.0 
$725.1 $654.4 
Aggregate Remaining Performance Obligations Expected to be Recognized as Revenue The deferred revenue balance as of December 31, 2020 represents our aggregate remaining performance obligations that will be recognized as revenue over the period in which the performance obligations are satisfied, and is expected to be recognized as revenue as follows:
20212022202320242025ThereafterTotal
Domains$810.7 $218.1 $84.2 $46.5 $25.5 $36.1 $1,221.1 
Hosting and presence574.8 141.6 40.3 15.5 6.1 14.6 792.9 
Business applications325.8 68.8 21.1 3.7 1.5 1.5 422.4 
$1,711.3 $428.5 $145.6 $65.7 $33.1 $52.2 $2,436.4 
v3.20.4
Accrued Expenses and Other Current Liabilities (Tables)
 12 Months Ended
Dec. 31, 2020
Payables and Accruals [Abstract]  
Summary of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
December 31,
20202019
Derivative liabilities$216.4 $93.8 
Accrued payroll and employee benefits114.8 117.0 
Current portion of operating lease liabilities41.5 39.5 
Tax-related accruals38.4 30.7 
Accrued marketing and advertising29.9 14.7 
Accrued legal and professional24.4 28.7 
Accrued acquisition-related expenses and acquisition consideration payable9.4 8.3 
Other52.6 33.3 
$527.4 $366.0 
v3.20.4
Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Composition of Long-Term Debt
Long-term debt consisted of the following:
December 31,
Maturity Date20202019
2024 Term Loans (effective interest rate of 2.8% at December 31, 2020 and 4.7% at December 31, 2019)
February 15, 2024$1,807.4 $1,832.3 
2027 Term Loans (effective interest rate of 3.0% at December 31, 2020)
August 10, 2027746.2 — 
Senior Notes (effective interest rate of 5.4% at December 31, 2020 and December 31, 2019)
December 1, 2027600.0 600.0 
Revolver
February 15, 2024— — 
Total3,153.6 2,432.3 
Less: unamortized original issue discount on long-term debt(1)
(13.5)(13.2)
Less: unamortized debt issuance costs(1)
(25.7)(23.9)
Less: current portion of long-term debt(24.3)(18.4)
$3,090.1 $2,376.8 
_________________________________
(1) Original issue discount and debt issuance costs amortized to interest expense over the life of the related debt instruments using the interest method.
Aggregate Principal Payments Due on Long-Term Debt
Aggregate principal payments, exclusive of any unamortized original issue discount and debt issuance costs, due on long-term debt as of December 31, 2020 are as follows:
Year Ending December 31:
2021$32.5 
202232.5 
202332.5 
20241,740.0 
20257.5 
Thereafter1,308.6 
$3,153.6 
v3.20.4
Derivatives and Hedging (Tables)
 12 Months Ended
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Outstanding Derivatives
The following table summarizes our outstanding derivative instruments on a gross basis:
Notional Amount
Fair Value of Derivative Assets(2)
Fair Value of Derivative Liabilities(2)
December 31, 2020December 31, 2019December 31, 2020December 31, 2019December 31, 2020December 31, 2019
Derivative Instrument:
Level 2:
Foreign exchange forward contracts$276.2 $138.9 $— $— $15.8 $3.3 
Cross-currency swap(1)
1,461.9 1,355.8 — — 167.2 64.1 
Interest rate swaps2,022.0 1,289.0 2.0 — 33.4 26.4 
Total hedges$3,760.1 $2,783.7 $2.0 $— $216.4 $93.8 
_________________________________
(1) The notional values of the cross-currency swap have been translated from Euros to U.S. dollars at the foreign currency rates in effect at December 31, 2020 and 2019 of approximately 1.22 and 1.12, respectively.
(2) In our balance sheets, all derivative assets are recorded within prepaid expenses and other current assets and all derivative liabilities are recorded within accrued expenses and other current liabilities.
Summary of Gains (Losses) on Derivative Instruments
The following table summarizes the effect of our designated cash flow hedging derivative instruments on AOCI:
Unrealized Gains (Losses) Recognized in Other Comprehensive Income (Loss)
Year Ended December 31,
202020192018
Derivative Instrument:
Foreign exchange forward contracts(1)
$(17.6)$(2.7)$8.9 
Cross-currency swap16.2 25.8 (3.5)
Interest rate swaps(4.9)(25.0)17.7 
Total hedges$(6.3)$(1.9)$23.1 
_________________________________
(1) Amounts include gains and losses realized upon contract settlement but not yet recognized into earnings from AOCI.
The following table summarizes the locations and amounts of gains (losses) recognized within earnings related to our cash flow hedging relationships:
Year Ended December 31,
202020192018
RevenueInterest ExpenseOther Income (Expense), NetRevenueInterest ExpenseOther Income (Expense), NetRevenueInterest ExpenseOther Income (Expense), Net
Foreign exchange forward contracts:
Reclassified from AOCI into income$2.7 $— $— $3.2 $— $— $(2.1)$— $— 
Cross-currency swap:
Reclassified from AOCI into income (1)
— 28.9 (120.4)— 30.1 28.1 — 28.3 65.9 
Interest rate swaps:
Reclassified from AOCI into income— (25.6)— — (2.6)— — (6.5)— 
Total hedges$2.7 $3.3 $(120.4)$3.2 $27.5 $28.1 $(2.1)$21.8 $65.9 
_________________________________
(1) The amounts reflected in other income (expense), net include $119.3 million, $(28.7) million and $(67.3) million reclassified from AOCI to offset the earnings impact of the remeasurement of the Euro-denominated intercompany loan hedged by the cross-currency swap during 2020, 2019 and 2018, respectively.
v3.20.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Components of Lease Expenses
The components of operating lease expense were as follows:
Year Ended December 31,
20202019
Operating lease costs$53.2 $55.6 
Variable lease costs9.2 8.8 
Sublease income(3.0)(3.0)
Net lease costs$59.4 $61.4 
Maturities of Operating Lease Liabilities
Maturities of operating lease liabilities as of December 31, 2020 were as follows:
Year Ending December 31:
2021$50.8 
202236.4 
202326.8 
202426.7 
202523.5 
Thereafter89.4 
Total lease payments253.6 
Less: imputed interest(45.4)
$208.2 
v3.20.4
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Future Minimum Obligations under Non-Cancelable Agreements Future minimum obligations under these non-cancelable agreements with initial terms in excess of one year at December 31, 2020 are as follows:
Year Ending December 31:
2021$83.3 
202274.5 
202338.0 
202411.7 
20250.6 
Thereafter0.1 
$208.2 
v3.20.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Benefit
Our benefit for income taxes includes U.S. federal, state and foreign income taxes. The domestic and foreign components of our income (loss) before income taxes were as follows:
Year Ended December 31,
202020192018
U.S.$(423.4)$176.4 $138.9 
Foreign(72.0)(50.0)(65.9)
Income (loss) before income taxes$(495.4)$126.4 $73.0 
Our benefit for income taxes was as follows:
Year Ended December 31,
202020192018
Current:
Federal$(3.4)$(0.7)$(1.3)
State(1.1)(0.6)(0.7)
Foreign(19.3)(7.8)(10.3)
(23.8)(9.1)(12.3)
Deferred:
Federal2.9 4.4 1.4 
State1.5 0.4 1.0 
Foreign20.7 16.3 18.9 
25.1 21.1 21.3 
Benefit for income taxes$1.3 $12.0 $9.0 
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of the statutory U.S. federal income tax rate to our effective income tax rate was as follows:
Year Ended December 31,
202020192018
Expected provision at U.S. federal statutory tax rate$104.0 $(26.5)$(15.3)
Research and development credits75.0 — — 
State taxes, net of federal benefit44.9 (1.2)2.1 
Effect of investment in Desert Newco10.4 7.1 13.1 
TRA liability adjustment(5.3)1.7 0.3 
Foreign earnings(5.4)2.1 3.1 
Uncertain tax positions(5.6)— — 
Other0.9 (4.3)0.9 
Effect of changes in valuation allowances(217.6)33.1 4.8 
Benefit for income taxes$1.3 $12.0 $9.0 
Schedule of Deferred Tax Assets and Liabilities
The components of our deferred taxes were as follows:
December 31,
20202019
DTAs:
Investment in Desert Newco$1,099.5 $968.0 
NOLs558.1 476.1 
Credit and incentives77.1 3.0 
Deferred interest26.4 34.1 
Operating lease liabilities22.7 25.7 
TRA liability— 24.4 
Other4.7 5.9 
Valuation allowance(1,761.0)(1,497.0)
Total DTAs27.5 40.2 
DTLs:
Identified intangible assets(101.8)(112.8)
Operating lease assets(12.5)(22.7)
Total DTLs(114.3)(135.5)
Net DTLs$(86.8)$(95.3)
Summary of Operating Loss Carryforwards
As of December 31, 2020, we had U.S. federal, state and foreign gross NOLs, credits and incentives, a portion of which will begin to expire in 2030, as follows:
Gross NOLs, Credits and IncentivesPortion Subject to a Valuation Allowance
Federal NOLs and credits$2,112.3 $2,112.3 
State NOLs, credits and incentives2,586.4 2,586.4 
Foreign NOLs36.0 23.9 
Total NOLs, credits and incentives$4,734.7 $4,722.6 
Summary of Tax Credit Carryforwards
As of December 31, 2020, we had U.S. federal, state and foreign gross NOLs, credits and incentives, a portion of which will begin to expire in 2030, as follows:
Gross NOLs, Credits and IncentivesPortion Subject to a Valuation Allowance
Federal NOLs and credits$2,112.3 $2,112.3 
State NOLs, credits and incentives2,586.4 2,586.4 
Foreign NOLs36.0 23.9 
Total NOLs, credits and incentives$4,734.7 $4,722.6 
Schedule of Unrecognized Tax Benefits Roll Forward
Our liability for unrecognized tax benefits was as follows:
December 31,
20202019
Balance at beginning of period$9.3 $2.1 
Gross increases - tax positions in prior period24.2 4.5 
Gross increases - tax positions in current period13.0 2.7 
Current year acquisitions20.2 — 
Balance at end of period$66.7 $9.3 
v3.20.4
Income (Loss) Per Share (Tables)
 12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Reconciliation of the Numerator and Denominator Used in the Calculation of Basic and Diluted Net Income (Loss) Per Share
A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income (loss) per share is as follows:
Year Ended December 31,
202020192018
Numerator:
Net income (loss)(494.1)138.4 82.0 
Less: net income attributable to non-controlling interests1.0 1.4 4.9 
Net income (loss) attributable to GoDaddy Inc. $(495.1)$137.0 $77.1 
Denominator:
Weighted-average shares of Class A common stock outstanding—basic168,636 173,431 155,234 
Effect of dilutive securities:
Class B common stock— 2,318 16,534 
Stock options— 4,369 7,123 
RSUs, PSUs and ESPP shares— 1,603 2,462 
Weighted-average shares of Class A Common stock outstanding—diluted168,636 181,721 181,353 
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock—basic$(2.94)$0.79 $0.50 
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock—diluted(1)
$(2.94)$0.76 $0.45 
_________________________________
(1) The diluted income (loss) per share calculations exclude net income attributable to non-controlling interests, unless the effect is antidilutive.
Summary of Weighted Average Potentially Dilutive Shares
The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted income (loss) per share because the effect of including such shares would have been antidilutive:
Year Ended December 31,
202020192018
Class B common stock1,145 — — 
Stock options3,259 1,705 742 
RSUs, PSUs and ESPP shares2,045 79 240 
6,449 1,784 982 
v3.20.4
Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Revenue by Geography
Revenue by geography is based on the customer's billing address and was as follows:
Year Ended December 31,
202020192018
U.S.$2,211.3 $1,979.6 1,723.9 
International1,105.4 1,008.5 936.2 
$3,316.7 $2,988.1 $2,660.1 
Property and Equipment, Net, by Geography
Property and equipment, net by geography was as follows:
Year Ended December 31,
20202019
U.S.198.3 200.4 
France27.0 24.4 
All other international32.0 33.8 
$257.3 $258.6 
v3.20.4
Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
AOCI Activity in Equity
The following table presents AOCI activity in equity:
Foreign Currency Translation Adjustments
Net Unrealized Gains (Losses) on Cash Flow Hedges(1)
Total AOCI
Gross balance as of December 31, 2018(2)
$(92.3)$(22.4)$(114.7)
Other comprehensive income (loss) before reclassifications37.7 (60.7)(23.0)
Amounts reclassified from AOCI— 58.8 58.8 
Other comprehensive income (loss) - 201937.7 (1.9)35.8 
$(54.6)$(24.3)(78.9)
Less: AOCI attributable to non-controlling interests0.7 
Balance as of December 31, 2019$(78.2)
Gross balance as of December 31, 2019(2)
$(54.6)$(24.3)$(78.9)
Other comprehensive income (loss) before reclassifications(44.2)105.9 61.7 
Amounts reclassified from AOCI— (114.4)(114.4)
Other comprehensive income (loss) - 2020(44.2)(8.5)(52.7)
$(98.8)$(32.8)(131.6)
Less: AOCI attributable to non-controlling interests0.6 
Balance as of December 31, 2020$(131.0)
_________________________________
(1) Amounts shown for our foreign exchange forward contracts include gains and losses realized upon contract settlement but not yet recognized into earnings from AOCI.
(2) Beginning balance is presented on a gross basis, excluding the allocation of AOCI attributable to non-controlling interests.
v3.20.4
Organization and Background (Details)
 12 Months Ended
Dec. 31, 2020
segment
Entity Information [Line Items]  
Number of operating segments 1
Number of reporting units 1
Desert Newco, LLC  
Entity Information [Line Items]  
Ownership percent in Desert Newco 99.00%
v3.20.4
Summary of Significant Accounting Policies - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Entity Information [Line Items]      
Cash and cash equivalents related to payment processor transactions $ 24.5 $ 25.4  
Depreciation 73.4 86.5 $ 97.4
Capitalized internal-use software costs 9.9 13.4  
Amortization of contract costs 644.6 614.7 597.1
Advertising expense 329.6 260.0 231.1
Prepaid advertising $ 9.3 6.3  
Foreign Exchange Forward Contracts | Cash Flow Hedging | Designated as Hedging Instrument      
Entity Information [Line Items]      
Remaining maturity of derivatives 18 months    
TSR-based PSUs      
Entity Information [Line Items]      
Performance period 3 years    
Other Income (Expense), Net      
Entity Information [Line Items]      
Foreign currency (losses) $ (12.3) $ (7.1) $ (10.4)
Dividend Rate | TSR-based PSUs      
Entity Information [Line Items]      
Measurement input for share-based compensation awards 0    
Minimum | TSR-based PSUs      
Entity Information [Line Items]      
Percent of originally granted PSUs received as shares on the settlement date 0.00%    
Maximum | TSR-based PSUs      
Entity Information [Line Items]      
Percent of originally granted PSUs received as shares on the settlement date 200.00%    
v3.20.4
Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Property, Plant and Equipment [Line Items]    
Property and equipment $ 809.7 $ 770.3
Less: accumulated depreciation and amortization (552.4) (511.7)
Property and equipment, net 257.3 258.6
Computer equipment    
Property, Plant and Equipment [Line Items]    
Property and equipment $ 464.1 434.8
Estimated useful life 3 years  
Software    
Property, Plant and Equipment [Line Items]    
Property and equipment $ 64.8 55.9
Software | Minimum    
Property, Plant and Equipment [Line Items]    
Estimated useful life 3 years  
Software | Maximum    
Property, Plant and Equipment [Line Items]    
Estimated useful life 5 years  
Land    
Property, Plant and Equipment [Line Items]    
Property and equipment $ 9.0 9.0
Buildings, including improvements    
Property, Plant and Equipment [Line Items]    
Property and equipment $ 146.6 145.5
Buildings, including improvements | Minimum    
Property, Plant and Equipment [Line Items]    
Estimated useful life 5 years  
Buildings, including improvements | Maximum    
Property, Plant and Equipment [Line Items]    
Estimated useful life 40 years  
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property and equipment $ 98.2 99.4
Other    
Property, Plant and Equipment [Line Items]    
Property and equipment $ 27.0 $ 25.7
Other | Minimum    
Property, Plant and Equipment [Line Items]    
Estimated useful life 1 year  
Other | Maximum    
Property, Plant and Equipment [Line Items]    
Estimated useful life 20 years  
v3.20.4
Summary of Significant Accounting Policies - Finite-Lived Intangible Assets (Details)
 12 Months Ended
Dec. 31, 2020
Customer relationships | Minimum  
Finite-Lived Intangible Assets [Line Items]  
Estimated useful life 2 years
Customer relationships | Maximum  
Finite-Lived Intangible Assets [Line Items]  
Estimated useful life 9 years
Developed technology | Minimum  
Finite-Lived Intangible Assets [Line Items]  
Estimated useful life 3 years
Developed technology | Maximum  
Finite-Lived Intangible Assets [Line Items]  
Estimated useful life 7 years
Trade names and other | Minimum  
Finite-Lived Intangible Assets [Line Items]  
Estimated useful life 1 year
Trade names and other | Maximum  
Finite-Lived Intangible Assets [Line Items]  
Estimated useful life 10 years
v3.20.4
Summary of Significant Accounting Policies - Weighted-Average Assumptions Used in Estimating the Fair Value of Stock Options Granted (Details) - Stock Options
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected term 6 years 6 years 1 month 6 days 6 years 1 month 6 days
Expected volatility 32.30% 31.20% 31.50%
Risk-free interest rate 0.90% 2.20% 2.70%
v3.20.4
Summary of Significant Accounting Policies - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2020
Morgan Stanley    
Liabilities:    
Repurchase agreement amount $ 70.0  
Call option notice period 31 days  
Fair Value Measured on a Recurring Basis    
Short-term investments:    
Total assets measured and recorded at fair value $ 639.6 $ 98.0
Liabilities:    
Derivative liabilities 93.8 216.4
Total liabilities measured and recorded at fair value 93.8 216.4
Level 1 | Fair Value Measured on a Recurring Basis    
Short-term investments:    
Total assets measured and recorded at fair value 444.7 98.0
Liabilities:    
Derivative liabilities 0.0 0.0
Total liabilities measured and recorded at fair value 0.0 0.0
Level 2 | Fair Value Measured on a Recurring Basis    
Short-term investments:    
Total assets measured and recorded at fair value 194.9 0.0
Liabilities:    
Derivative liabilities 93.8 216.4
Total liabilities measured and recorded at fair value 93.8 216.4
Level 3 | Fair Value Measured on a Recurring Basis    
Short-term investments:    
Total assets measured and recorded at fair value 0.0 0.0
Liabilities:    
Derivative liabilities 0.0 0.0
Total liabilities measured and recorded at fair value 0.0 0.0
Reverse repurchase agreements | Fair Value Measured on a Recurring Basis    
Cash and cash equivalents:    
Cash and cash equivalents 70.0  
Reverse repurchase agreements | Level 1 | Fair Value Measured on a Recurring Basis    
Cash and cash equivalents:    
Cash and cash equivalents 0.0  
Reverse repurchase agreements | Level 2 | Fair Value Measured on a Recurring Basis    
Cash and cash equivalents:    
Cash and cash equivalents 70.0  
Reverse repurchase agreements | Level 3 | Fair Value Measured on a Recurring Basis    
Cash and cash equivalents:    
Cash and cash equivalents 0.0  
Commercial paper | Fair Value Measured on a Recurring Basis    
Cash and cash equivalents:    
Cash and cash equivalents 102.0  
Short-term investments:    
Short-term investments 23.6  
Commercial paper | Level 1 | Fair Value Measured on a Recurring Basis    
Cash and cash equivalents:    
Cash and cash equivalents 0.0  
Short-term investments:    
Short-term investments 0.7  
Commercial paper | Level 2 | Fair Value Measured on a Recurring Basis    
Cash and cash equivalents:    
Cash and cash equivalents 102.0  
Short-term investments:    
Short-term investments 22.9  
Commercial paper | Level 3 | Fair Value Measured on a Recurring Basis    
Cash and cash equivalents:    
Cash and cash equivalents 0.0  
Short-term investments:    
Short-term investments 0.0  
Money market funds | Fair Value Measured on a Recurring Basis    
Cash and cash equivalents:    
Cash and cash equivalents 444.0 98.0
Money market funds | Level 1 | Fair Value Measured on a Recurring Basis    
Cash and cash equivalents:    
Cash and cash equivalents 444.0 98.0
Money market funds | Level 2 | Fair Value Measured on a Recurring Basis    
Cash and cash equivalents:    
Cash and cash equivalents 0.0 0.0
Money market funds | Level 3 | Fair Value Measured on a Recurring Basis    
Cash and cash equivalents:    
Cash and cash equivalents $ 0.0 $ 0.0
v3.20.4
Business Acquisitions - Narrative (Details)
$ in Millions
 1 Months Ended 12 Months Ended
Aug. 31, 2020
USD ($)
Jul. 31, 2018
USD ($)
Dec. 31, 2020
USD ($)
business
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Business Acquisition [Line Items]          
Settlement of pre-existing contractual relationships $ 19.4        
Aggregate holdback and contingent consideration payments     $ 6.8 $ 88.0 $ 21.7
Neustar, Inc. and Other Acquisitions          
Business Acquisition [Line Items]          
Number of businesses acquired | business     4    
Expected tax deductible amount     $ 92.0    
Weighted average useful life     5 years 6 months    
Neustar, Inc.          
Business Acquisition [Line Items]          
Purchase consideration 217.2   $ 219.2    
Purchase consideration payable in future periods $ 1.3   $ 10.2    
Other Acquisitions          
Business Acquisition [Line Items]          
Number of businesses acquired | business     3    
Main Street Hub          
Business Acquisition [Line Items]          
Purchase consideration   $ 182.0      
Purchase consideration payable in future periods   $ 43.4      
Weighted average useful life   4 years 3 months 18 days      
Contingent earn-out payments (up to)   $ 50.0      
v3.20.4
Business Acquisitions - Summary of the Estimated Acquisition Date Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Jul. 31, 2018
Fair value of assets acquired and liabilities assumed:        
Goodwill $ 3,275.1 $ 2,976.5 $ 2,948.0  
Neustar, Inc. and Other Acquisitions        
Business Acquisition [Line Items]        
Total purchase consideration 455.8      
Fair value of assets acquired and liabilities assumed:        
Cash and cash equivalents 4.5      
Finite-lived intangible assets 96.2      
Deferred revenue (17.1)      
Other assets and liabilities, net (20.6)      
Total assets acquired, net of liabilities assumed 218.5      
Goodwill 237.3      
Neustar, Inc. and Other Acquisitions | Domain Portfolio Intangible Rights        
Fair value of assets acquired and liabilities assumed:        
Indefinite-lived intangible assets 88.5      
Neustar, Inc. and Other Acquisitions | Contractual-Based Intangible Assets        
Fair value of assets acquired and liabilities assumed:        
Indefinite-lived intangible assets $ 67.0      
Main Street Hub        
Business Acquisition [Line Items]        
Total purchase consideration       $ 182.0
Fair value of assets acquired and liabilities assumed:        
Cash and cash equivalents       8.0
Intangible assets, net       35.7
Other assets and liabilities, net       3.2
Total assets acquired, net of liabilities assumed       46.9
Goodwill       $ 135.1
v3.20.4
Goodwill and Intangible Assets - Summary of Changes in Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Goodwill [Roll Forward]    
Balance $ 2,976.5 $ 2,948.0
Goodwill related to acquisitions 237.3 20.9
Impact of foreign currency translation 61.3 7.6
Balance $ 3,275.1 $ 2,976.5
v3.20.4
Goodwill and Intangible Assets - Summary of Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]    
Accumulated Amortization $ (659.2) $ (566.7)
Net Carrying Amount 492.8  
Gross Carrying Amount 1,914.3 1,664.4
Accumulated Amortization (659.2) (566.7)
Net Carrying Amount 1,255.1 1,097.7
Trade names and branding    
Indefinite-lived Intangible Assets [Line Items]    
Gross Carrying Amount 445.0 445.0
Net Carrying Amount 445.0 445.0
Domain portfolio    
Indefinite-lived Intangible Assets [Line Items]    
Gross Carrying Amount 250.3 148.1
Net Carrying Amount 250.3 148.1
Contractual-based assets    
Indefinite-lived Intangible Assets [Line Items]    
Gross Carrying Amount 67.0  
Net Carrying Amount 67.0  
Customer-related    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 857.0 838.4
Accumulated Amortization (534.7) (475.6)
Net Carrying Amount 322.3 362.8
Accumulated Amortization (534.7) (475.6)
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 188.1 151.5
Accumulated Amortization (90.7) (67.3)
Net Carrying Amount 97.4 84.2
Accumulated Amortization (90.7) (67.3)
Trade names and other    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 106.9 81.4
Accumulated Amortization (33.8) (23.8)
Net Carrying Amount 73.1 57.6
Accumulated Amortization $ (33.8) $ (23.8)
v3.20.4
Goodwill and Intangible Assets - Narrative (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Dec. 31, 2020
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]        
Purchases of intangible assets   $ 15.0 $ 4.7 $ 9.3
Expected payments for intangible assets $ 2.0 2.0    
Amortization expense   $ 127.1 $ 119.5 $ 136.7
Weighted Average        
Finite-Lived Intangible Assets [Line Items]        
Weighted average remaining amortization period   60 months    
Customer-related | Weighted Average        
Finite-Lived Intangible Assets [Line Items]        
Weighted average remaining amortization period   62 months    
Developed technology | Weighted Average        
Finite-Lived Intangible Assets [Line Items]        
Weighted average remaining amortization period   39 months    
Trade names and other | Weighted Average        
Finite-Lived Intangible Assets [Line Items]        
Weighted average remaining amortization period   79 months    
Domain Portfolio Intangible Rights        
Finite-Lived Intangible Assets [Line Items]        
Purchases of intangible assets $ 17.0      
v3.20.4
Goodwill and Intangible Assets - Expected Future Amortization Expense of Finite-Lived Intangible Assets (Details)
$ in Millions
Dec. 31, 2020
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2021 $ 111.5
2022 108.3
2023 89.4
2024 76.3
2025 72.4
Thereafter 34.9
Net Carrying Amount $ 492.8
v3.20.4
Stockholders' Equity - Narrative (Details) - $ / shares
Dec. 31, 2020
Dec. 31, 2019
Class of Stock [Line Items]    
Preferred stock shares authorized (in shares) 50,000,000 50,000,000
Preferred stock par value (in dollars per share) $ 0.001 $ 0.001
Class A Common Stock    
Class of Stock [Line Items]    
Common stock shares authorized (in shares) 1,000,000,000 1,000,000,000
Common stock par value (in dollars per share) $ 0.001 $ 0.001
Class B Common Stock    
Class of Stock [Line Items]    
Common stock shares authorized (in shares) 500,000,000 500,000,000
Common stock par value (in dollars per share) $ 0.001 $ 0.001
v3.20.4
Stockholders' Equity - Approved Share Repurchase Programs and Open Market Repurchases of Common Stock (Details) - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Class of Stock [Line Items]      
Aggregate purchase price, including commissions $ 541.7 $ 458.6  
Class A Common Stock      
Class of Stock [Line Items]      
Number of shares repurchased (in shares) 9,986 7,125 0
Aggregate purchase price, including commissions $ 541.7 $ 458.6 $ 0.0
2020 Share Repurchase Program - Approved on May 1, 2020      
Class of Stock [Line Items]      
Total authorized amount 500.0    
Authorized amount remaining 500.0    
2019 Share Repurchase Program - Approved on October 1, 2019      
Class of Stock [Line Items]      
Total authorized amount 500.0    
Authorized amount remaining 0.0    
2018 Share Repurchase Program - Approved on November 1, 2018      
Class of Stock [Line Items]      
Total authorized amount 500.0    
Authorized amount remaining $ 0.0    
v3.20.4
Equity-Based Compensation Plans - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Jan. 01, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Reversal of equity-based compensation expense $ (191.5) $ (147.0) $ (125.5)  
Stock Options        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Unrecognized compensation expense $ 17.0      
Weighted average recognition period 2 years 1 month 6 days      
Restricted Stock Units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Unrecognized compensation expense $ 284.2      
Weighted average recognition period 2 years 6 months      
Performance Shares | Restatement Adjustment        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Reversal of equity-based compensation expense   $ 15.6    
2015 Equity Incentive Plan | Stock Compensation Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares rolled over (in shares) 27,340,000      
2015 Equity Incentive Plan | Class A Common Stock | Stock Compensation Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Additional capital shares reserved for future issuance (in shares)       6,794,000
2015 Employee Stock Purchase Plan | Employee Stock        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares rolled over (in shares) 4,081,000      
2015 Employee Stock Purchase Plan | Class A Common Stock | Employee Stock        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Additional capital shares reserved for future issuance (in shares)       1,000,000
v3.20.4
Equity-Based Compensation Plans - Summary of Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Number of Shares of Class A Common Stock (#)      
Outstanding (in shares) 6,304 9,527 13,460
Grants (in shares) 154 1,401 1,208
Exercises (in shares) (2,613) (3,976) (4,779)
Forfeitures (in shares) (417) (648) (362)
Outstanding (in shares) 3,428 6,304 9,527
Vested (in shares) 2,458    
Weighted- Average Grant- Date Fair Value ($)      
Granted (in dollars per share) $ 22.33 $ 24.91 $ 22.19
Weighted- Average Exercise Price ($)      
Outstanding (in dollars per share) 38.08 25.77 18.63
Granted (in dollars per share) 68.05 71.74 61.49
Exercised (in dollars per share) 29.71 17.78 14.08
Forfeited (in dollars per share) 62.82 54.43 34.05
Outstanding (in dollars per share) 42.79 $ 38.08 $ 25.77
Vested (in dollars per share) $ 33.90    
Weighted- Average Remaining Contractual Life (in years)      
Outstanding 6 years    
Vested 5 years 2 months 12 days    
Aggregate Intrinsic Value ($)      
Exercised $ 121.0 $ 213.8 $ 246.4
Outstanding 137.6    
Vested $ 120.6    
v3.20.4
Equity-Based Compensation Plans - Summary of Stock Award Activity (Details) - $ / shares
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
RSUs And PSUs      
Number of Shares of Class A Common Stock (#)      
Outstanding, beginning of period (in shares) 5,240,000 5,356,000 4,199,000
Granted (in shares) 4,157,000 3,057,000 3,152,000
Vested (in shares) (2,368,000) (2,187,000) (1,545,000)
Forfeited (in shares) (896,000) (986,000) (450,000)
Outstanding, end of period (in shares) 6,133,000 5,240,000 5,356,000
RSUs      
Number of Shares of Class A Common Stock (#)      
Outstanding, beginning of period (in shares) 4,247,000 3,952,000  
Outstanding, end of period (in shares) 5,356,000 4,247,000 3,952,000
Weighted- Average Grant- Date Fair Value ($)      
Granted (in dollars per share) $ 70.54 $ 65.12 $ 53.77
TSR-based RSUs      
Number of Shares of Class A Common Stock (#)      
Outstanding, end of period (in shares) 349,000    
Weighted- Average Grant- Date Fair Value ($)      
Granted (in dollars per share) $ 106.14    
Financial-based PSUs granted for accounting purposes      
Number of Shares of Class A Common Stock (#)      
Outstanding, beginning of period (in shares) 401,000 505,000  
Outstanding, end of period (in shares) 223,000 401,000 505,000
Weighted- Average Grant- Date Fair Value ($)      
Not yet granted (in dollars per share) $ 66.97 $ 73.28 $ 63.18
Financial-based PSUs not yet granted for accounting purposes      
Number of Shares of Class A Common Stock (#)      
Outstanding, beginning of period (in shares) 592,000 899,000  
Outstanding, end of period (in shares) 205,000 592,000 899,000
v3.20.4
Deferred Revenue - Composition of Deferred Revenue (Details) - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Disaggregation of Revenue [Line Items]    
Current deferred revenue $ 1,711.3 $ 1,544.4
Noncurrent deferred revenue 725.1 654.4
Domains    
Disaggregation of Revenue [Line Items]    
Current deferred revenue 810.7 752.7
Noncurrent deferred revenue 410.4 382.2
Hosting and presence    
Disaggregation of Revenue [Line Items]    
Current deferred revenue 574.8 526.7
Noncurrent deferred revenue 218.1 187.2
Business applications    
Disaggregation of Revenue [Line Items]    
Current deferred revenue 325.8 265.0
Noncurrent deferred revenue $ 96.6 $ 85.0
v3.20.4
Deferred Revenue - Narrative (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2020
USD ($)
Revenue from Contract with Customer [Abstract]  
Revenue recognized in period $ 1,734.5
v3.20.4
Deferred Revenue - Aggregate Remaining Performance Obligations Expected to be Recognized as Revenue (Details)
$ in Millions
Dec. 31, 2020
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 2,436.4
Domains  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation 1,221.1
Hosting and presence  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation 792.9
Business applications  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation 422.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 1,711.3
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | Domains  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 810.7
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | Hosting and presence  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 574.8
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | Business applications  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 325.8
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 428.5
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Domains  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 218.1
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Hosting and presence  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 141.6
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | Business applications  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 68.8
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 145.6
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Domains  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 84.2
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Hosting and presence  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 40.3
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | Business applications  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 21.1
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 65.7
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Domains  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 46.5
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Hosting and presence  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 15.5
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Business applications  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 3.7
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 33.1
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Domains  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 25.5
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Hosting and presence  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 6.1
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Business applications  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 1.5
Expected period of recognition 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 52.2
Expected period of recognition
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Domains  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 36.1
Expected period of recognition
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Hosting and presence  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 14.6
Expected period of recognition
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Business applications  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Aggregate remaining performance obligation $ 1.5
Expected period of recognition
v3.20.4
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Payables and Accruals [Abstract]    
Derivative liabilities $ 216.4 $ 93.8
Accrued payroll and employee benefits 114.8 117.0
Current portion of operating lease liabilities 41.5 39.5
Tax-related accruals 38.4 30.7
Accrued marketing and advertising 29.9 14.7
Accrued legal and professional 24.4 28.7
Accrued acquisition-related expenses and acquisition consideration payable 9.4 8.3
Other 52.6 33.3
Accrued expenses and other current liabilities $ 527.4 $ 366.0
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] us-gaap:AccruedLiabilitiesCurrent us-gaap:AccruedLiabilitiesCurrent
v3.20.4
Long-Term Debt - Composition of Long-Term Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Debt Instrument [Line Items]    
Long-term debt $ 3,153.6 $ 2,432.3
Less unamortized original issue discounts on long-term debt (13.5) (13.2)
Current deferred revenue (25.7) (23.9)
Less current portion of long-term debt (24.3) (18.4)
Long-term debt, net of current portion 3,090.1 2,376.8
Secured Debt | 2024 Term Loans    
Debt Instrument [Line Items]    
Long-term debt $ 1,807.4 $ 1,832.3
Effective interest rate 2.80% 4.70%
Secured Debt | 2027 Term Loans    
Debt Instrument [Line Items]    
Long-term debt $ 746.2 $ 0.0
Effective interest rate 3.00%  
Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Long-term debt $ 600.0 600.0
Effective interest rate 5.40%  
Line of Credit | Revolver | Revolving Credit Facility    
Debt Instrument [Line Items]    
Long-term debt $ 0.0 $ 0.0
v3.20.4
Long-Term Debt- Narrative (Details) - USD ($)
 1 Months Ended 12 Months Ended
May 31, 2019
Aug. 31, 2020
Oct. 31, 2019
Jun. 30, 2019
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Jun. 30, 2020
Debt Instrument [Line Items]                
Loss on debt extinguishment         $ 0 $ 14,800,000 $ 0  
Issuance of term loans         746,300,000 0 $ 0  
Debt issuance costs         $ 25,700,000 $ 23,900,000    
Line of Credit | London Interbank Offered Rate (LIBOR)                
Debt Instrument [Line Items]                
Variable rate floor         0.00%      
Senior Notes | Senior Notes                
Debt Instrument [Line Items]                
Interest rate       5.25%       5.25%
Long-term debt, face amount       $ 600,000,000.0       $ 600,000,000.0
Debt issuance costs               9,700,000
Redemption price, change of control, percent       101.00%        
Senior Notes | Senior Notes | Level 2                
Debt Instrument [Line Items]                
Estimated fair value of debt         $ 633,800,000      
Senior Notes | Senior Notes | Prior to June 1, 2022                
Debt Instrument [Line Items]                
Redemption price, percent       100.00%        
Accrued and unpaid interest, plus applicable premium (not less than)       1.00%        
Redemption price, partial redemption, percent       105.25%        
Senior Notes | Senior Notes | June 1, 2022 - May 31, 2023                
Debt Instrument [Line Items]                
Redemption price, percent       102.625%        
Senior Notes | Senior Notes | June 1, 2023 - May 31, 2024                
Debt Instrument [Line Items]                
Redemption price, percent       101.75%        
Senior Notes | Senior Notes | June 1, 2024 - May 31, 2025                
Debt Instrument [Line Items]                
Redemption price, percent       100.875%        
Senior Notes | Senior Notes | Thereafter                
Debt Instrument [Line Items]                
Redemption price, percent       100.00%        
2024 and 2027 Term Loans | Secured Debt                
Debt Instrument [Line Items]                
Prepayment of debt       $ 600,000,000.0        
2024 and 2027 Term Loans | Secured Debt | Minimum                
Debt Instrument [Line Items]                
Unused commitment fee upon achievement of certain financial ratios         0.125%      
2024 and 2027 Term Loans | Secured Debt | Maximum                
Debt Instrument [Line Items]                
Unused commitment fee upon achievement of certain financial ratios         0.375%      
2024 Term Loans | Line of Credit | London Interbank Offered Rate (LIBOR)                
Debt Instrument [Line Items]                
Basis spread on variable rate   1.75%            
2024 Term Loans | Line of Credit | London Interbank Offered Rate (LIBOR) | Option 1                
Debt Instrument [Line Items]                
Basis spread on variable rate   1.00%            
2024 Term Loans | Line of Credit | Base Rate                
Debt Instrument [Line Items]                
Basis spread on variable rate   0.75%            
2024 Term Loans | Line of Credit | Federal Funds Rate                
Debt Instrument [Line Items]                
Basis spread on variable rate   0.50%            
2024 Term Loans | Secured Debt                
Debt Instrument [Line Items]                
Prepayment of debt       600,000,000.0        
Loss on debt extinguishment       $ 14,500,000        
Decrease in interest rate margins     0.25%          
Discount at original issue     0.125%          
2024 Term Loans | Secured Debt | Level 2                
Debt Instrument [Line Items]                
Estimated fair value of debt         $ 1,804,000,000.0      
2027 Term Loans | Line of Credit                
Debt Instrument [Line Items]                
Long-term debt, face amount   $ 750,000,000.0            
Discount rate   0.50%            
Issuance of term loans   $ 746,300,000            
Debt issuance costs   $ 6,500,000            
Quarterly principal payment rate   0.25%            
2027 Term Loans | Line of Credit | London Interbank Offered Rate (LIBOR)                
Debt Instrument [Line Items]                
Basis spread on variable rate   2.50%            
2027 Term Loans | Line of Credit | London Interbank Offered Rate (LIBOR) | Option 1                
Debt Instrument [Line Items]                
Basis spread on variable rate   1.00%            
2027 Term Loans | Line of Credit | Base Rate                
Debt Instrument [Line Items]                
Basis spread on variable rate   1.50%            
2027 Term Loans | Line of Credit | Federal Funds Rate                
Debt Instrument [Line Items]                
Basis spread on variable rate   0.50%            
2027 Term Loans | Secured Debt | Level 2                
Debt Instrument [Line Items]                
Estimated fair value of debt         750,400,000      
Revolver | Line of Credit | Revolving Credit Facility                
Debt Instrument [Line Items]                
Maximum borrowing capacity               600,000,000.0
Maximum net leverage ratio 35.00%     20.00%        
Debt issuance costs               $ 3,400,000
Available borrowing capacity         $ 600,000,000.0      
Revolver | Line of Credit | Revolving Credit Facility | Maximum                
Debt Instrument [Line Items]                
Net leverage ratio       5.75        
Revolver | Line of Credit | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum                
Debt Instrument [Line Items]                
Basis spread on variable rate       1.25%        
Revolver | Line of Credit | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum                
Debt Instrument [Line Items]                
Basis spread on variable rate       1.75%        
Revolver | Line of Credit | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Option 1                
Debt Instrument [Line Items]                
Basis spread on variable rate       1.00%        
Revolver | Line of Credit | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Option 1 | Minimum                
Debt Instrument [Line Items]                
Basis spread on variable rate       0.25%        
Revolver | Line of Credit | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Option 1 | Maximum                
Debt Instrument [Line Items]                
Basis spread on variable rate       0.75%        
Revolver | Line of Credit | Revolving Credit Facility | Federal Funds Rate                
Debt Instrument [Line Items]                
Basis spread on variable rate       0.50%        
v3.20.4
Long-Term Debt - Aggregate Principal Payments Due on Long-Term Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Debt Disclosure [Abstract]    
2021 $ 32.5  
2022 32.5  
2023 32.5  
2024 1,740.0  
2025 7.5  
Thereafter 1,308.6  
Long-term debt $ 3,153.6 $ 2,432.3
v3.20.4
Derivatives and Hedging - Summary of Outstanding Derivatives (Details) - Cash Flow Hedging - Designated as Hedging Instrument
€ in Millions, $ in Millions
Dec. 31, 2020
USD ($)
€ / $
Dec. 31, 2019
USD ($)
€ / $
Apr. 30, 2017
USD ($)
Apr. 30, 2017
EUR (€)
Cross-currency swap        
Derivatives, Fair Value [Line Items]        
Notional Amount     $ 1,325.4 € 1,243.3
Euro to U.S. dollar exchange rate for translation | € / $ 1.22 1.12    
Level 2        
Derivatives, Fair Value [Line Items]        
Notional Amount $ 3,760.1 $ 2,783.7    
Level 2 | Prepaid Expenses and Other Current Assets        
Derivatives, Fair Value [Line Items]        
Fair Value of Derivative Assets 2.0 0.0    
Level 2 | Accrued Expenses and Other Current Liabilities        
Derivatives, Fair Value [Line Items]        
Fair Value of Derivative Liabilities 216.4 93.8    
Level 2 | Foreign exchange forward contracts        
Derivatives, Fair Value [Line Items]        
Notional Amount 276.2 138.9    
Level 2 | Foreign exchange forward contracts | Prepaid Expenses and Other Current Assets        
Derivatives, Fair Value [Line Items]        
Fair Value of Derivative Assets 0.0 0.0    
Level 2 | Foreign exchange forward contracts | Accrued Expenses and Other Current Liabilities        
Derivatives, Fair Value [Line Items]        
Fair Value of Derivative Liabilities 15.8 3.3    
Level 2 | Cross-currency swap        
Derivatives, Fair Value [Line Items]        
Notional Amount 1,461.9 1,355.8    
Level 2 | Cross-currency swap | Prepaid Expenses and Other Current Assets        
Derivatives, Fair Value [Line Items]        
Fair Value of Derivative Assets 0.0 0.0    
Level 2 | Cross-currency swap | Accrued Expenses and Other Current Liabilities        
Derivatives, Fair Value [Line Items]        
Fair Value of Derivative Liabilities 167.2 64.1    
Level 2 | Interest rate swaps        
Derivatives, Fair Value [Line Items]        
Notional Amount 2,022.0 1,289.0    
Level 2 | Interest rate swaps | Prepaid Expenses and Other Current Assets        
Derivatives, Fair Value [Line Items]        
Fair Value of Derivative Assets 2.0 0.0    
Level 2 | Interest rate swaps | Accrued Expenses and Other Current Liabilities        
Derivatives, Fair Value [Line Items]        
Fair Value of Derivative Liabilities $ 33.4 $ 26.4    
v3.20.4
Derivatives and Hedging - Summary of Gains (Losses) on Derivative Instruments (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Derivative [Line Items]      
Unrealized gains (losses) recognized in other comprehensive income $ (8.5) $ (1.9) $ 23.1
Revenue 3,316.7 2,988.1 2,660.1
Interest expense 91.3 92.1 98.4
Other income (expense), net (1.6) 22.0 6.9
Cash Flow Hedging | Designated as Hedging Instrument      
Derivative [Line Items]      
Unrealized gains (losses) recognized in other comprehensive income (6.3) (1.9) 23.1
Cash Flow Hedging | Designated as Hedging Instrument | Foreign exchange forward contracts      
Derivative [Line Items]      
Unrealized gains (losses) recognized in other comprehensive income (17.6) (2.7) 8.9
Cash Flow Hedging | Designated as Hedging Instrument | Cross-currency swap      
Derivative [Line Items]      
Unrealized gains (losses) recognized in other comprehensive income 16.2 25.8 (3.5)
Cash Flow Hedging | Designated as Hedging Instrument | Interest rate swaps      
Derivative [Line Items]      
Unrealized gains (losses) recognized in other comprehensive income (4.9) (25.0) 17.7
Reclassification out of Accumulated Other Comprehensive Income | Net Unrealized Gains (Losses) on Cash Flow Hedges      
Derivative [Line Items]      
Revenue 2.7 3.2 (2.1)
Interest expense 3.3 27.5 21.8
Other income (expense), net (120.4) 28.1 65.9
Reclassification out of Accumulated Other Comprehensive Income | Net Unrealized Gains (Losses) on Cash Flow Hedges | Foreign exchange forward contracts      
Derivative [Line Items]      
Revenue 2.7 3.2 (2.1)
Interest expense 0.0 0.0 0.0
Other income (expense), net 0.0 0.0 0.0
Reclassification out of Accumulated Other Comprehensive Income | Net Unrealized Gains (Losses) on Cash Flow Hedges | Cross-currency swap      
Derivative [Line Items]      
Revenue 0.0 0.0 0.0
Interest expense 28.9 30.1 28.3
Other income (expense), net (120.4) 28.1 65.9
Reclassification out of Accumulated Other Comprehensive Income | Net Unrealized Gains (Losses) on Cash Flow Hedges | Interest rate swaps      
Derivative [Line Items]      
Revenue 0.0 0.0 0.0
Interest expense (25.6) (2.6) (6.5)
Other income (expense), net 0.0 0.0 0.0
Reclassification out of Accumulated Other Comprehensive Income | Net Unrealized Gains (Losses) on Cash Flow Hedges | Euro-Denominated Intercompany Loan | Cross-currency swap      
Derivative [Line Items]      
Other income (expense), net $ 119.3 $ (28.7) $ (67.3)
v3.20.4
Derivatives and Hedging - Narrative (Details)
€ in Millions, $ in Millions
 1 Months Ended 12 Months Ended
Aug. 31, 2020
USD ($)
Apr. 30, 2017
USD ($)
Dec. 31, 2020
USD ($)
Apr. 30, 2017
EUR (€)
Derivative [Line Items]        
Net deferred gains from cash flow hedges     $ (9.8)  
Cash Flow Hedging | Designated as Hedging Instrument | Foreign Exchange Forward Contracts        
Derivative [Line Items]        
Remaining maturity of derivatives     18 months  
Cash Flow Hedging | Designated as Hedging Instrument | Cross-Currency Swap        
Derivative [Line Items]        
Derivative term of contract   5 years    
Notional amount   $ 1,325.4   € 1,243.3
Derivative fixed interest rate   5.44%   5.44%
Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap - April 2017 Agreement        
Derivative [Line Items]        
Derivative term of contract   5 years    
Notional amount   $ 1,325.4    
Derivative fixed interest rate   5.44%   5.44%
Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap - August 2020 Agreement        
Derivative [Line Items]        
Derivative term of contract 7 years      
Notional amount $ 750.0      
Derivative fixed interest rate 0.705%      
Euro-Denominated Intercompany Loan        
Derivative [Line Items]        
Interest rate   3.00%   3.00%
v3.20.4
Leases - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2020
Leases [Abstract]    
Operating lease, remaining weighted average lease term   7 years 10 months 24 days
Operating lease, weighted average discount rate   5.00%
Rent expense $ 38.3  
v3.20.4
Leases - Components of Lease Expenses (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Leases [Abstract]    
Operating lease costs $ 53.2 $ 55.6
Variable lease costs 9.2 8.8
Sublease income (3.0) (3.0)
Net lease costs $ 59.4 $ 61.4
v3.20.4
Leases - Maturities of Operating Lease Liabilities (Details)
$ in Millions
Dec. 31, 2020
USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]  
2021 $ 50.8
2022 36.4
2023 26.8
2024 26.7
2025 23.5
Thereafter 89.4
Total lease payments 253.6
Less: imputed interest (45.4)
Operating lease liabilities $ 208.2
v3.20.4
Commitments and Contingencies - Future Minimum Obligations under Non-Cancelable Agreements (Details)
$ in Millions
Dec. 31, 2020
USD ($)
Service Agreements  
2021 $ 83.3
2022 74.5
2023 38.0
2024 11.7
2025 0.6
Thereafter 0.1
Purchase Obligation, Total $ 208.2
v3.20.4
Commitments and Contingencies - Narrative (Details) - USD ($)
 3 Months Ended 12 Months Ended
Apr. 22, 2020
Jun. 13, 2019
Dec. 31, 2020
Sep. 30, 2020
Dec. 31, 2019
Schedule of Capital Lease Obligations [Line Items]          
Estimated loss provision recorded         $ 18,100,000
Reduction of estimated loss provision $ 2,900,000   $ 2,300,000 $ 4,800,000  
Estimated loss provision     8,100,000    
Indirect Taxation          
Schedule of Capital Lease Obligations [Line Items]          
Estimated tax liability     $ 10,100,000   $ 9,400,000
Class Action Complaint | Pending Litigation          
Schedule of Capital Lease Obligations [Line Items]          
Proposed settlement amount (up to)   $ 35,000,000.0      
v3.20.4
Restructuring Charges (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]      
Pre-tax restructuring charges [1] $ 43.6 $ 0.0 $ 0.0
Outbound Sales and Operations Restructuring      
Restructuring Cost and Reserve [Line Items]      
Pre-tax restructuring charges 43.6    
Severance and related benefits 14.6    
Impairment of operating lease assets 27.9    
Accelerated depreciation and amortization 1.1    
Cash payments related to restructuring $ 14.4    
[1]
(1) Costs and operating expenses include equity-based compensation expense as follows:
Cost of revenue$0.7 $0.4 $— 
Technology and development$90.2 $70.3 $57.8 
Marketing and advertising$21.7 $15.4 $10.3 
Customer care$12.0 $9.3 $6.2 
General and administrative$66.9 $51.6 $51.2 
Total equity-based compensation expense$191.5 $147.0 $125.5 
v3.20.4
Defined Contribution Plan (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Retirement Benefits [Abstract]      
Maximum employee contributions, percent 100.00%    
Employer discretionary matching contribution $ 14.6 $ 14.7 $ 13.5
v3.20.4
Income Taxes - Components of Income Tax Benefit (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Tax Disclosure [Abstract]      
U.S. $ (423.4) $ 176.4 $ 138.9
Foreign (72.0) (50.0) (65.9)
Income (loss) before income taxes (495.4) 126.4 73.0
Current:      
Federal (3.4) (0.7) (1.3)
State (1.1) (0.6) (0.7)
Foreign (19.3) (7.8) (10.3)
Total current (23.8) (9.1) (12.3)
Deferred:      
Federal 2.9 4.4 1.4
State 1.5 0.4 1.0
Foreign 20.7 16.3 18.9
Total deferred 25.1 21.1 21.3
Benefit for income taxes $ 1.3 $ 12.0 $ 9.0
v3.20.4
Income Taxes - Income Tax Rate Reconciliation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Expected provision at U.S. federal statutory tax rate $ 104.0 $ (26.5) $ (15.3)
Research and development credits 75.0 0.0 0.0
State taxes, net of federal benefit 44.9 (1.2) 2.1
Effect of investment in Desert Newco 10.4 7.1 13.1
TRA liability adjustment (5.3) 1.7 0.3
Foreign earnings (5.4) 2.1 3.1
Uncertain tax positions (5.6) 0.0 0.0
Other 0.9 (4.3) 0.9
Effect of changes in valuation allowances (217.6) 33.1 4.8
Benefit for income taxes $ 1.3 $ 12.0 $ 9.0
v3.20.4
Income Taxes - Net Deferred Tax Assets (Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
DTAs:    
Investment in Desert Newco $ 1,099.5 $ 968.0
NOLs 558.1 476.1
Credit and incentives 77.1 3.0
Deferred interest 26.4 34.1
Operating lease liabilities 22.7 25.7
TRA liability 0.0 24.4
Other 4.7 5.9
Valuation allowance (1,761.0) (1,497.0)
Total DTAs 27.5 40.2
DTLs:    
Identified intangible assets (101.8) (112.8)
Operating lease assets (12.5) (22.7)
Total DTLs (114.3) (135.5)
Net DTLs $ (86.8) $ (95.3)
v3.20.4
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Tax Contingency [Line Items]      
Tax credit carryforwards $ 77.1 $ 3.0  
Gross unrecognized tax benefits 66.7 9.3 $ 2.1
Gross unrecognized tax benefits that would decrease the effective tax rate if recognized 35.3    
Research Tax Credit Carryforward      
Income Tax Contingency [Line Items]      
Tax credit 79.6    
Tax credit carryforwards 77.8    
Desert Newco, LLC      
Income Tax Contingency [Line Items]      
Increase in deferred tax assets related to investment in Desert Newco 130.5 113.7  
Increase in deferred tax assets related to NOLs and credit carryforwards $ 70.0 $ 94.4  
v3.20.4
Income Taxes - Net Operating Losses, Credits and Incentives (Details)
$ in Millions
Dec. 31, 2020
USD ($)
Tax Credit Carryforward [Line Items]  
Gross NOLs, Credits and Incentives $ 4,734.7
Portion Subject to a Valuation Allowance 4,722.6
Federal NOLs and credits  
Tax Credit Carryforward [Line Items]  
Gross NOLs, Credits and Incentives 2,112.3
Portion Subject to a Valuation Allowance 2,112.3
State NOLs, credits and incentives  
Tax Credit Carryforward [Line Items]  
Gross NOLs, Credits and Incentives 2,586.4
Portion Subject to a Valuation Allowance 2,586.4
Foreign NOLs  
Tax Credit Carryforward [Line Items]  
Gross NOLs, Credits and Incentives 36.0
Portion Subject to a Valuation Allowance $ 23.9
v3.20.4
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]    
Balance at beginning of period $ 9.3 $ 2.1
Gross increases - tax positions in prior period 24.2 4.5
Gross increases - tax positions in current period 13.0 2.7
Current year acquisitions 20.2 0.0
Balance at end of period $ 66.7 $ 9.3
v3.20.4
Payables Pursuant to the TRAs (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
taxReceivableAgreement
Dec. 31, 2018
USD ($)
Jul. 31, 2020
USD ($)
taxReceivableAgreement
Related Party Transaction [Line Items]          
Number of TRAs | taxReceivableAgreement     5    
Number of TRAs settled | taxReceivableAgreement         4
Payments for the settlement of tax receivable agreements $ 849.8 $ 849.8 $ 0.0 $ 0.0  
Reorganization Parties and Continuing LLC Owners          
Related Party Transaction [Line Items]          
Percent of tax benefits owed under tax receivable agreement     85.00%    
TRA settlement amount         $ 850.0
Net charge from the settlement of TRAs 674.7        
TRA liability     $ 175.3    
Deferred tax assets resulting from TRA settlement $ 180.0 $ 180.0      
v3.20.4
Income (Loss) Per Share - Reconciliation of the Numerator and Denominator Used in the Calculation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Numerator:      
Net income (loss) $ (494.1) $ 138.4 $ 82.0
Less: net income attributable to non-controlling interests 1.0 1.4 4.9
Net income (loss) attributable to GoDaddy Inc. $ (495.1) $ 137.0 $ 77.1
Class B common stock      
Denominator:      
Effect of dilutive securities (in shares) 0 2,318 16,534
Stock options      
Denominator:      
Effect of dilutive securities (in shares) 0 4,369 7,123
RSUs, PSUs and ESPP shares      
Denominator:      
Effect of dilutive securities (in shares) 0 1,603 2,462
Class A common stock      
Denominator:      
Weighted-average shares of Class A common stock outstanding - basic (in shares) 168,636 173,431 155,234
Weighted-average shares of Class A Common stock outstanding - diluted (in shares) 168,636 181,721 181,353
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock—basic (diluted) $ (2.94) $ 0.79 $ 0.50
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock—diluted (in dollars per share) $ (2.94) $ 0.76 $ 0.45
v3.20.4
Income (Loss) Per Share - Summary of Weighted Average Potentially Dilutive Shares (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from diluted loss per unit calculation (in shares) 6,449 1,784 982
Class B common stock      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from diluted loss per unit calculation (in shares) 1,145 0 0
Stock options      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from diluted loss per unit calculation (in shares) 3,259 1,705 742
RSUs, PSUs and ESPP shares      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from diluted loss per unit calculation (in shares) 2,045 79 240
v3.20.4
Income (Loss) Per Share - Narrative (Details)
Dec. 31, 2020
shares
Class B Common Stock  
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]  
Conversion feature of Class B common stock, number of Class A common shares 1
v3.20.4
Geographic Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenue $ 3,316.7 $ 2,988.1 $ 2,660.1
Property and equipment, net 257.3 258.6  
U.S.      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenue 2,211.3 1,979.6 1,723.9
Property and equipment, net 198.3 200.4  
International      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenue 1,105.4 1,008.5 $ 936.2
France      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Property and equipment, net 27.0 24.4  
All other international      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Property and equipment, net $ 32.0 $ 33.8  
v3.20.4
Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Balance $ 782.1 $ 824.5
Balance (11.8) 782.1
Foreign Currency Translation Adjustments    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Balance (54.6) (92.3)
Other comprehensive income (loss) before reclassifications (44.2) 37.7
Amounts reclassified from AOCI 0.0 0.0
Other comprehensive income (loss) (44.2) 37.7
Balance (98.8) (54.6)
Net Unrealized Gains (Losses) on Cash Flow Hedges    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Balance (24.3) (22.4)
Other comprehensive income (loss) before reclassifications 105.9 (60.7)
Amounts reclassified from AOCI (114.4) 58.8
Other comprehensive income (loss) (8.5) (1.9)
Balance (32.8) (24.3)
AOCI Including Portion Attributable to Noncontrolling Interest    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Balance (78.9) (114.7)
Other comprehensive income (loss) before reclassifications 61.7 (23.0)
Amounts reclassified from AOCI (114.4) 58.8
Other comprehensive income (loss) (52.7) 35.8
Balance (131.6) (78.9)
AOCI Attributable to Noncontrolling Interest    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Balance (0.7)  
Balance (0.6) (0.7)
AOCI Attributable to Parent    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Balance (78.2) (72.1)
Balance $ (131.0) $ (78.2)
v3.20.4
Subsequent Events (Details) - Poynt Co. - Subsequent Event
$ in Millions
Feb. 18, 2021
USD ($)
Subsequent Event [Line Items]  
Total purchase consideration $ 329.2
Deferred cash payments $ 45.0
Performance and employment condition period 3 years