GODADDY INC., 10-Q filed on 11/4/2021
Quarterly Report
v3.21.2
Cover Page - shares
 9 Months Ended
Sep. 30, 2021
Oct. 29, 2021
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2021  
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 2155 E. GoDaddy Way  
Entity Address, City or Town Tempe  
Entity Address, State or Province AZ  
Entity Address, Postal Zip Code 85284  
City Area Code 480  
Local Phone Number 505-8800  
Title of 12(b) Security Class A Common Stock, $0.001 par value per share  
Trading Symbol GDDY  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001609711  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2021  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Class A Common Stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   166,206,941
Class B Common Stock    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   320,223
v3.21.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 1,143.4 $ 765.2
Accounts and other receivables 63.8 41.8
Registry deposits 30.5 31.1
Prepaid domain name registry fees 424.4 392.4
Prepaid expenses and other current assets 107.4 60.8
Total current assets 1,769.5 1,291.3
Property and equipment, net 228.5 257.3
Operating lease assets 122.2 142.0
Prepaid domain name registry fees, net of current portion 180.8 176.1
Goodwill 3,500.4 3,275.1
Intangible assets, net 1,408.9 1,255.1
Other assets 87.7 36.0
Total assets 7,298.0 6,432.9
Current liabilities:    
Accounts payable 75.0 51.0
Accrued expenses and other current liabilities 485.8 527.6
Deferred revenue 1,900.1 1,711.3
Long-term debt 24.1 24.3
Total current liabilities 2,485.0 2,314.2
Deferred revenue, net of current portion 756.7 725.1
Long-term debt, net of current portion 3,863.7 3,090.1
Operating lease liabilities, net of current portion 148.3 166.7
Other long-term liabilities 66.3 56.6
Deferred tax liabilities 79.1 92.0
Commitments and contingencies
Stockholders' deficit:    
Preferred stock 0.0 0.0
Additional paid-in capital 1,521.8 1,308.8
Accumulated deficit (1,561.8) (1,190.9)
Accumulated other comprehensive loss (63.0) (131.0)
Total stockholders' deficit attributable to GoDaddy Inc. (102.8) (12.9)
Non-controlling interests 1.7 1.1
Total stockholders' deficit (101.1) (11.8)
Total liabilities and stockholders' deficit 7,298.0 6,432.9
Class A Common Stock    
Stockholders' deficit:    
Common stock 0.2 0.2
Class B Common Stock    
Stockholders' deficit:    
Common stock $ 0.0 $ 0.0
v3.21.2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares
Sep. 30, 2021
Dec. 31, 2020
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, shares 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) 166,121,000 169,157,000
Common stock, shares outstanding (in shares) 166,121,000 169,157,000
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) 320,000 688,000
Common stock, shares outstanding (in shares) 320,000 688,000
v3.21.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue:        
Revenue $ 964.0 $ 844.4 $ 2,796.4 $ 2,442.8
Costs and operating expenses        
Cost of revenue (excluding depreciation and amortization) [1] 345.8 290.2 999.0 856.7
Technology and development [1] 172.4 141.4 530.8 411.8
Marketing and advertising [1] 124.0 115.4 383.2 312.9
Customer care [1] 74.0 73.6 230.9 242.6
General and administrative [1] 81.2 76.4 260.9 244.1
Restructuring and other [1] (15.4) 4.3 (15.4) 43.7
Depreciation and amortization [1] 50.7 50.7 149.7 151.3
Total costs and operating expenses 832.7 752.0 2,539.1 2,263.1
Operating income 131.3 92.4 257.3 179.7
Interest expense (32.5) (23.9) (93.8) (64.5)
Tax receivable agreements liability adjustment 0.0 0.0 0.0 (674.7)
Other income (expense), net (1.2) 1.2 (1.4) (1.3)
Income (loss) before income taxes 97.6 69.7 162.1 (560.8)
Benefit (provision) for income taxes 0.1 (4.6) (6.7) (4.1)
Net income (loss) 97.7 65.1 155.4 (564.9)
Less: net income attributable to non-controlling interests 0.2 0.4 0.3 0.7
Net income (loss) attributable to GoDaddy Inc. $ 97.5 $ 64.7 $ 155.1 $ (565.6)
Class A Common Stock        
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock:        
Basic (in USD per share) $ 0.58 $ 0.39 $ 0.92 $ (3.35)
Diluted (in USD per share) $ 0.58 $ 0.38 $ 0.90 $ (3.35)
Weighted-average shares of Class A common stock outstanding:        
Basic (in shares) 167,542 167,258 168,387 168,734
Diluted (in shares) 169,823 171,405 171,724 168,734
Domains        
Revenue:        
Revenue $ 453.2 $ 387.4 $ 1,312.6 $ 1,112.9
Hosting and presence        
Revenue:        
Revenue 324.7 302.4 953.5 891.8
Business applications        
Revenue:        
Revenue $ 186.1 $ 154.6 $ 530.3 $ 438.1
[1]
Costs and operating expenses include equity-based compensation expense as follows:
Three months ended
 September 30,
Nine months ended
 September 30,
2021202020212020
Cost of revenue$0.3 $0.2 $0.7 $0.5 
Technology and development27.3 22.5 82.2 65.6 
Marketing and advertising5.6 5.7 18.8 15.7 
Customer care3.5 2.6 10.2 8.5 
General and administrative14.2 17.1 43.0 51.8 
Total equity-based compensation expense$50.9 $48.1 $154.9 $142.1 
v3.21.2
Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Equity-based compensation expense $ 50.9 $ 48.1 $ 154.9 $ 142.1
Cost of revenue        
Equity-based compensation expense 0.3 0.2 0.7 0.5
Technology and development        
Equity-based compensation expense 27.3 22.5 82.2 65.6
Marketing and advertising        
Equity-based compensation expense 5.6 5.7 18.8 15.7
Customer care        
Equity-based compensation expense 3.5 2.6 10.2 8.5
General and administrative        
Equity-based compensation expense $ 14.2 $ 17.1 $ 43.0 $ 51.8
v3.21.2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ 97.7 $ 65.1 $ 155.4 $ (564.9)
Foreign exchange forward contracts gain (loss), net 11.0 (9.4) 14.0 (3.1)
Unrealized swap gain (loss), net [1] 4.6 (13.4) 22.9 (5.8)
Change in foreign currency translation adjustment 3.8 (8.4) 31.6 (44.0)
Comprehensive income (loss) 117.1 33.9 223.9 (617.8)
Less: comprehensive income (loss) attributable to non-controlling interests 0.3 0.3 0.7 0.6
Comprehensive income (loss) attributable to GoDaddy Inc. $ 116.8 $ 33.6 $ 223.2 $ (618.4)
[1]
Components of OCI are net of the tax effects reflected below:
Unrealized swap gain (loss), net0.3 0.5 1.8 1.6 
v3.21.2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Statement of Comprehensive Income [Abstract]        
Unrealized swap gain (loss), net $ 0.3 $ 0.5 $ 1.8 $ 1.6
v3.21.2
Condensed Consolidated Statement of Stockholders' Deficit (Unaudited) - 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
Accumulated Deficit
Accumulated Other Comprehensive Loss
Non- Controlling Interests
Balance (in shares) at Dec. 31, 2019       172,867 1,490        
Beginning 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) 43.2           42.9   0.3
Equity-based compensation, including amounts capitalized 46.0         46.0      
Stock option exercises (in shares)       724          
Stock option exercises 15.3         16.0     (0.7)
Repurchases of Class A common stock (in shares)       (7,341)          
Repurchases of Class A common stock (398.0)           (398.0)    
Impact of derivatives, net 26.0             26.0  
Change in foreign currency translation adjustment (24.9)             (24.9)  
Vesting of restricted stock units and other (in shares)       1,377 (204)        
Vesting of restricted stock units and other (0.6)         1.4 (0.6) (0.1) (1.3)
Balance (in shares) at Mar. 31, 2020       167,627 1,286        
Ending balance at Mar. 31, 2020 489.1     $ 0.2 $ 0.0 1,066.9 (509.2) (77.2) 8.4
Balance (in shares) at Dec. 31, 2019       172,867 1,490        
Beginning 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) (564.9)                
Balance (in shares) at Sep. 30, 2020       167,813 993        
Ending balance at Sep. 30, 2020 (163.8)     $ 0.2 $ 0.0 1,228.0 (1,261.4) (131.0) 0.4
Balance (in shares) at Mar. 31, 2020       167,627 1,286        
Beginning balance at Mar. 31, 2020 489.1     $ 0.2 $ 0.0 1,066.9 (509.2) (77.2) 8.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) (673.2)           (673.2)    
Equity-based compensation, including amounts capitalized 49.4         49.4      
Stock option exercises (in shares)       907          
Stock option exercises 29.2         29.7     (0.5)
Repurchases of Class A common stock (in shares)       (2,645)          
Repurchases of Class A common stock (143.7)           (143.7)    
Issuance of Class A common stock under ESPP (in shares)       302          
Issuance of Class A common stock under ESPP 17.5         17.5      
Impact of derivatives, net (12.1)             (12.1)  
Change in foreign currency translation adjustment (10.7)             (10.7)  
Vesting of restricted stock units and other (in shares)       560 (166)        
Vesting of restricted stock units and other 0.0         1.0   0.1 (1.1)
Balance (in shares) at Jun. 30, 2020       166,751 1,120        
Ending balance at Jun. 30, 2020 (254.5)     $ 0.2 $ 0.0 1,164.5 (1,326.1) (99.9) 6.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 65.1           64.7   0.4
Equity-based compensation, including amounts capitalized 48.6         48.6      
Stock option exercises (in shares)       517          
Stock option exercises 14.2         14.7     (0.5)
Distributions to holders of LLC Units (6.0)               (6.0)
Impact of derivatives, net (22.8)             (22.8)  
Change in foreign currency translation adjustment (8.4)             (8.4)  
Vesting of restricted stock units and other (in shares)       545 (127)        
Vesting of restricted stock units and other 0.0         0.2   0.1 (0.3)
Balance (in shares) at Sep. 30, 2020       167,813 993        
Ending balance at Sep. 30, 2020 (163.8)     $ 0.2 $ 0.0 1,228.0 (1,261.4) (131.0) 0.4
Balance (in shares) at Dec. 31, 2020   169,157 688 169,157 688        
Beginning balance at Dec. 31, 2020 (11.8)     $ 0.2 $ 0.0 1,308.8 (1,190.9) (131.0) 1.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 10.8           10.8    
Equity-based compensation, including amounts capitalized 53.2         53.2      
Stock option exercises (in shares)       309          
Stock option exercises 11.6         11.8     (0.2)
Repurchases of Class A common stock (in shares)       (2,544)          
Repurchases of Class A common stock (195.1)           (195.1)    
Impact of derivatives, net 26.5             26.5  
Change in foreign currency translation adjustment 33.7             33.7  
Vesting of restricted stock units and other (in shares)       1,523 (209)        
Vesting of restricted stock units and other 0.1         (0.4)   (0.4) 0.9
Balance (in shares) at Mar. 31, 2021       168,445 479        
Ending balance at Mar. 31, 2021 (71.0)     $ 0.2 $ 0.0 1,373.4 (1,375.2) (71.2) 1.8
Balance (in shares) at Dec. 31, 2020   169,157 688 169,157 688        
Beginning balance at Dec. 31, 2020 (11.8)     $ 0.2 $ 0.0 1,308.8 (1,190.9) (131.0) 1.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 155.4                
Repurchases of Class A common stock (in shares)   (3,500)              
Repurchases of Class A common stock   $ (275.9)              
Balance (in shares) at Sep. 30, 2021   166,121 320 166,121 320        
Ending balance at Sep. 30, 2021 (101.1)     $ 0.2 $ 0.0 1,521.8 (1,561.8) (63.0) 1.7
Balance (in shares) at Mar. 31, 2021       168,445 479        
Beginning balance at Mar. 31, 2021 (71.0)     $ 0.2 $ 0.0 1,373.4 (1,375.2) (71.2) 1.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 46.9           46.8   0.1
Equity-based compensation, including amounts capitalized 52.1         52.1      
Stock option exercises (in shares)       337          
Stock option exercises 14.2         14.2      
Repurchases of Class A common stock (in shares)       (956)          
Repurchases of Class A common stock (80.8)           (80.8)    
Issuance of Class A common stock under ESPP (in shares)       291          
Issuance of Class A common stock under ESPP 18.4         18.4      
Impact of derivatives, net (5.2)             (5.2)  
Change in foreign currency translation adjustment (5.9)             (5.9)  
Vesting of restricted stock units and other (in shares)       603 (100)        
Vesting of restricted stock units and other (0.1)         (0.1)      
Balance (in shares) at Jun. 30, 2021       168,720 379        
Ending balance at Jun. 30, 2021 (31.4)     $ 0.2 $ 0.0 1,458.0 (1,409.2) (82.3) 1.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 97.7           97.5   0.2
Equity-based compensation, including amounts capitalized 52.0         52.0      
Stock option exercises (in shares)       322          
Stock option exercises 11.2         11.3     (0.1)
Repurchases of Class A common stock (in shares)       (3,425)          
Repurchases of Class A common stock (250.1)           (250.1)    
Impact of derivatives, net 15.6             15.6  
Change in foreign currency translation adjustment 3.8             3.8  
Vesting of restricted stock units and other (in shares)       504 (59)        
Vesting of restricted stock units and other 0.1         0.5   (0.1) (0.3)
Balance (in shares) at Sep. 30, 2021   166,121 320 166,121 320        
Ending balance at Sep. 30, 2021 $ (101.1)     $ 0.2 $ 0.0 $ 1,521.8 $ (1,561.8) $ (63.0) $ 1.7
v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income (loss) $ 155.4 $ (564.9)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 149.7 151.3
Equity-based compensation expense 154.9 142.1
Non-cash restructuring charges 0.0 29.0
Tax receivable agreements liability adjustment 0.0 674.7
Other 10.7 30.6
Changes in operating assets and liabilities, net of amounts acquired:    
Prepaid domain name registry fees (42.0) (15.1)
Deferred revenue 214.8 200.5
Other operating assets and liabilities 13.6 (49.5)
Net cash provided by operating activities 657.1 598.7
Investing activities    
Maturities of short-term investments 0.0 23.7
Business acquisitions, net of cash acquired (320.1) (420.7)
Purchases of intangible assets (201.8) 0.0
Purchases of property and equipment (33.7) (39.1)
Purchases of equity investments (40.0) 0.0
Other investing activities 25.3 0.2
Net cash used in investing activities (570.3) (435.9)
Proceeds received from:    
Issuance of term loans 0.0 746.3
Issuance of senior notes 800.0 0.0
Stock option exercises 37.0 58.7
Issuance of Class A common stock under ESPP 18.4 17.5
Payments made for:    
Settlement of tax receivable agreements (0.2) (849.8)
Repurchases of Class A common stock (526.0) (541.7)
Repayment of term loans (24.3) (20.6)
Other financing obligations (12.5) (14.5)
Net cash provided by (used in) financing activities 292.4 (604.1)
Effect of exchange rate changes on cash and cash equivalents (1.0) 0.3
Net increase (decrease) in cash and cash equivalents 378.2 (441.0)
Cash and cash equivalents, beginning of period 765.2 1,062.8
Cash and cash equivalents, end of period 1,143.4 621.8
Cash paid during the period for:    
Interest on long-term debt, including impact of interest rate swaps 74.4 48.6
Income taxes, net of refunds received 15.5 11.6
Amounts included in the measurement of operating lease liabilities 41.1 38.9
Supplemental disclosure of non-cash transactions    
Operating lease assets obtained in exchange for operating lease liabilities 10.7 15.8
Accrued purchases of property and equipment at period end $ 4.4 $ 3.8
v3.21.2
Organization and Background
 9 Months Ended
Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Background Organization and Background
Organization
We are the sole managing member of Desert Newco, and as a result, we consolidate its financial results and report non-controlling interests representing the economic interests held by its other members. The calculation of non-controlling interests excludes any net income attributable directly to GoDaddy Inc. As of September 30, 2021, we owned more than 99.8% of Desert Newco.
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.
Our interim financial statements are unaudited, and in our opinion, include all adjustments of a normal recurring nature necessary for the fair presentation of the periods presented. The results for interim periods are not necessarily indicative of the results to be expected for any subsequent period or for the year ending December 31, 2021.
These financial statements should be read in conjunction with our audited financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2020 (the 2020 Form 10-K).
Prior Period Reclassifications
Certain immaterial prior period amounts have been reclassified 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. 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 September 30, 2021, our chief operating decision maker was 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.
v3.21.2
Summary of Significant Accounting Policies
 9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Assets Recognized from Contract Costs
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 $171.4 million and $161.0 million for the three months ended September 30, 2021 and 2020, respectively and was $500.0 million and $481.7 million, for the nine months ended September 30, 2021 and 2020, respectively.
Equity Investments
We hold investments in privately held equity securities, which are recorded in other assets and totaled $40.0 million at September 30, 2021. These securities are recorded at cost and adjusted for observable transactions for same or similar investments of the same issuer or impairment. Investment gains and losses are recorded in other income (expense), net.
Valuations of privately held securities are inherently complex and require judgment due to the lack of readily available observable market data. A security's carrying value is not adjusted if there are no observable price changes in a same or similar security from the same issuer or if there are no identified events or changes in circumstances that may indicate impairment. In determining the estimated fair value of our investments, we utilize the most recent data available to us. We assess our investments for impairment at least quarterly using both qualitative and quantitative factors. If an investment is considered impaired, we recognize an impairment loss and establish a new carrying value for the investment.
Fair Value Measurements
The following tables set forth our material assets and liabilities measured and recorded at fair value on a recurring basis:
September 30, 2021
Level 1Level 2Level 3Total
Assets:
 Cash and cash equivalents:
Money market funds and time deposits$304.1 $— $— $304.1 
 Derivative assets— 25.4 — 25.4 
Total assets$304.1 $25.4 $— $329.5 
Liabilities:
 Derivative liabilities$— $117.0 $— $117.0 
Total liabilities$— $117.0 $— $117.0 
December 31, 2020
Level 1Level 2Level 3Total
Assets:
 Cash and cash equivalents:
Money market funds$98.0 $— $— $98.0 
Total assets$98.0 $— $— $98.0 
Liabilities:
 Derivative liabilities $— $216.4 $— $216.4 
Total liabilities$— $216.4 $— $216.4 
Restructuring and other
Restructuring and other for the three and nine months ended September 30, 2021 includes the $15.4 million gain on sale of the land and buildings of our former corporate headquarters.
Recent Accounting Pronouncements
In March 2020, the FASB issued guidance providing temporary optional expedients and exceptions related to contract modifications and hedge accounting 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 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 contracts and hedging relationships that reference LIBOR.
v3.21.2
Business Acquisitions
 9 Months Ended
Sep. 30, 2021
Business Combinations [Abstract]  
Business Acquisitions Business Acquisitions
In February 2021, we completed the acquisition of Poynt Co. for $297.1 million in cash consideration to expand our commerce capabilities. 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. At closing, we also paid an additional $29.4 million in cash that was recorded as compensation expense during the three months ended March 31, 2021. The acquisition agreements also call for $45.0 million in additional compensatory cash payments subject to certain performance and employment conditions over the three year period following the closing date.
The aggregate purchase price was allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as 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 strategic benefits we expect to realize from the acquisition. During the measurement period, which will not exceed one year from 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 preliminary estimated acquisition date fair values of the assets acquired and liabilities assumed:
Total purchase consideration$297.1 
Fair value of assets acquired and liabilities assumed:
Cash and cash equivalents3.2 
Indefinite-lived intangible assets1.3 
Finite-lived intangible assets51.8 
Other assets and liabilities, net0.8 
Total assets acquired, net of liabilities assumed57.1 
Goodwill$240.0 
The identified finite-lived intangible assets, which were valued using both income- and cost-based approaches, primarily consist of developed technology and customer relationships, and have a total weighted-average amortization period of 4.2 years.
Pro forma financial information is not presented because the acquisition was not material to our financial statements.
v3.21.2
Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible AssetsThe following table summarizes changes in our goodwill balance:
Balance at December 31, 2020$3,275.1 
Goodwill related to acquisitions263.4 
Impact of foreign currency translation(36.6)
Other(1.5)
Balance at September 30, 2021$3,500.4 
Intangible assets, net are summarized as follows:
September 30, 2021
Gross 
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio247.8 n/a247.8 
Contractual-based assets and other255.1 n/a255.1 
Finite-lived intangible assets:
Customer-related536.0 $(263.1)272.9 
Developed technology237.0 (121.8)115.2 
Trade names and other114.8 (41.9)72.9 
$1,835.7 $(426.8)$1,408.9 
 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 
During the nine months ended September 30, 2021, we purchased intangible assets for a total of $201.8 million in cash. One of these purchases also includes a variable earn-out payment of up to $12.0 million based on the achievement of specified future performance conditions. The variable earn-out will be recognized only if the future performance conditions are achieved. These purchases primarily consisted of a number of top-level domains (TLDs), of which $186.8 million were recorded as indefinite-lived contractual-based intangible assets.
Amortization expense was $32.6 million and $32.0 million for the three months ended September 30, 2021 and 2020, respectively, and was $94.7 million and $94.3 million for the nine months ended September 30, 2021 and 2020, respectively. As of September 30, 2021, the weighted-average remaining amortization period for amortizable intangible assets was 51 months for customer-related intangible assets, 37 months for developed technology and 68 months for trade names and other, and was 51 months in total.
Based on the balance of finite-lived intangible assets as of September 30, 2021, expected future amortization expense is as follows:
Year Ending December 31:
2021 (remainder of)$32.7 
2022129.0 
2023102.4 
202483.5 
202578.6 
Thereafter34.8 
$461.0 
v3.21.2
Stockholders' Equity
 9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
In May 2021, our board of directors approved the repurchase of up to an additional $775.0 million of our Class A common stock. We may purchase shares from time to time in open market purchases, block transactions and privately negotiated transactions, in accordance with applicable federal securities laws. Our share repurchase authorizations have no time limit, 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. Shares repurchased are immediately retired.
In August 2021, we entered into an accelerated share repurchase agreement (ASR) to repurchase shares of our Class A common stock in exchange for an up-front payment of $250.0 million. The total number of shares ultimately delivered under the ASR, and therefore the average repurchase price paid per share, was determined based on the volume weighted-average price of our stock during the purchase period. The shares received were retired at the time of delivery and the up-front payment was accounted for as a reduction in retained earnings. The ASR is a forward contract indexed to our Class A common stock and met all of the applicable criteria for equity classification; therefore, it was not accounted for as a derivative instrument. The ASR was completed during the three months ended September 30, 2021 and we repurchased a total of 3,425 shares of our Class A common stock at an average price of $72.99 per share. Expenses incurred in connection with the ASR were recorded as a charge to retained earnings.
Additionally, during the nine months ended September 30, 2021, we repurchased a total of 3,500 shares of our Class A common stock in the open market at an average price of $78.83 per share for an aggregate purchase price of $275.9 million, including commissions.
As of September 30, 2021, we had $749.2 million remaining available for repurchases.
v3.21.2
Equity-Based Compensation Plans
 9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Equity-Based Compensation Plans Equity-Based Compensation Plans
Equity Plans
On January 1, 2021, an additional 6,794 shares of our Class A common stock were reserved for issuance pursuant to the automatic increase provisions of the 2015 Equity Incentive Plan. As of September 30, 2021, 31,500 shares were available for issuance as future awards under this plan.
On January 1, 2021, an additional 1,000 shares of our Class A common stock were reserved for issuance pursuant to the automatic increase provisions of the 2015 Employee Stock Purchase Plan (the ESPP). As of September 30, 2021, 4,790 shares were available for issuance under the ESPP.
Equity Plan Activity
We have granted stock options at exercise prices equal to the fair market value of our Class A common stock on the grant date. We have granted both stock options and restricted stock awards (RSUs) vesting solely upon the continued service of the recipient as well as performance-based awards (PSUs) with vesting based on either (i) our achievement of financial targets or (ii) our relative total stockholder return (TSR) as compared to an index of public internet companies. We recognize the accounting grant date fair value of equity-based awards as compensation expense over the required service period of each award, taking into account the probability of our achievement of associated performance targets. Compensation expense for TSR-based PSUs is recognized regardless of whether the TSR market condition is satisfied.
The following table summarizes stock option activity:
Number of
Shares of Class A Common Stock (#)		Weighted-
Average
Exercise
Price Per Share ($)
Outstanding at December 31, 2020
3,428 42.79 
Exercised(968)38.52 
Forfeited(227)68.65 
Outstanding at September 30, 2021
2,233 42.01 
Vested at September 30, 2021
1,882 37.01 
The following table summarizes stock award activity:
Number of
Shares of Class A Common Stock (#)
Outstanding at December 31, 20206,133 
Granted: RSUs3,613 
Granted: TSR-based PSUs426 
Vested(2,262)
Forfeited(1,178)
Outstanding at September 30, 2021(1)
6,732 
_________________________________
(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 Grant-Date Fair Value Per Share ($)
RSUs5,989 77.74
TSR-based PSUs586 107.02
Financial-based PSUs granted for accounting purposes79 78.62
Financial-based PSUs not yet granted for accounting purposes78 N/A
Outstanding at September 30, 20216,732 
As of September 30, 2021, total unrecognized compensation expense related to non-vested stock options and stock awards was $6.9 million and $364.9 million, respectively, with expected remaining weighted-average recognition periods of 1.6 years and 2.6 years, respectively. Such amounts exclude PSUs not yet considered granted for accounting purposes.
v3.21.2
Deferred Revenue
 9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
Deferred Revenue Deferred Revenue
Deferred revenue consisted of the following:
September 30, 2021December 31, 2020
Current:
Domains$896.5 $810.7 
Hosting and presence618.9 574.8 
Business applications384.7 325.8 
$1,900.1 $1,711.3 
Noncurrent:
Domains$433.8 $410.4 
Hosting and presence217.9 218.1 
Business applications105.0 96.6 
$756.7 $725.1 
The increase in deferred revenue is primarily driven by payments received in advance of satisfying our performance obligations, offset by $402.5 million and $1,606.0 million of revenue recognized during the three and nine months ended September 30, 2021, respectively, which was included in deferred revenue as of December 31, 2020. Deferred revenue as of September 30, 2021 represents our aggregate remaining performance obligations that will be recognized as revenue over the period in which the performance obligations are satisfied. Such recognition is expected to be as follows:
Remainder of 2021
2022202320242025ThereafterTotal
Domains$336.4 $640.8 $178.2 $74.7 $42.8 $57.4 $1,330.3 
Hosting and presence250.1 404.7 113.3 34.8 14.2 19.7 836.8 
Business applications155.1 251.6 63.1 14.9 2.7 2.3 489.7 
$741.6 $1,297.1 $354.6 $124.4 $59.7 $79.4 $2,656.8 
v3.21.2
Accrued Expenses and Other Current Liabilities
 9 Months Ended
Sep. 30, 2021
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:
September 30, 2021December 31, 2020
Accrued payroll and employee benefits$123.7 $114.8 
Derivative liabilities117.0 216.4 
Tax-related accruals50.6 38.4 
Current portion of operating lease liabilities38.9 41.5 
Accrued marketing and advertising31.5 29.9 
Accrued legal and professional25.0 24.4 
Accrued acquisition-related expenses and acquisition consideration payable21.3 9.4 
Other77.8 52.8 
$485.8 $527.6 
v3.21.2
Long-Term Debt
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
Long-term debt consisted of the following:
 Maturity DateSeptember 30, 2021December 31, 2020
2024 Term Loans (effective interest rate of 2.3% at September 30, 2021 and 2.8% at December 31, 2020)
February 15, 2024$1,788.7 $1,807.4 
2027 Term Loans (effective interest rate of 2.4% at September 30, 2021 and 3.0% at December 31, 2020)
August 10, 2027740.6 746.2 
2027 Senior Notes (effective interest rate of 5.4% at September 30, 2021 and December 31, 2020)
December 1, 2027600.0 600.0 
2029 Senior Notes (effective interest rate of 3.6% at September 30, 2021)
March 1, 2029800.0 — 
Revolver
February 15, 2024— — 
Total3,929.3 3,153.6 
Less: unamortized original issue discount and debt issuance costs(1)
(41.5)(39.2)
Less: current portion of long-term debt(24.1)(24.3)
$3,863.7 $3,090.1 
_________________________________
(1)Original issue discount and debt issuance costs are amortized to interest expense over the life of the related debt instruments using the interest method.
Credit Facility
As described in our 2020 Form 10-K, our secured credit agreement (the Credit Facility) includes two tranches of term loans (the 2024 Term Loans and the 2027 Term Loans) and a revolving credit facility (the Revolver). A portion of the term loans is hedged by interest rate swap arrangements, as discussed in Note 10.
In March 2021, we refinanced the 2027 Term Loans to lower the interest rate margins by 0.5% with no changes made to the maturity date or any other terms. Following this refinancing, the 2027 Term Loans bear interest at a rate equal to, at our option, either (a) LIBOR plus 2.0% per annum or (b) 1.0% 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%. Fees incurred in connection with the refinancing were not material.
As of September 30, 2021, 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 February 2021, we issued the 2029 Senior Notes in an aggregate principal amount of $800.0 million in a private placement offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The proceeds from the issuance of the 2029 Senior Notes were retained for general corporate purposes. The 2029 Senior Notes were issued at par and bear interest at 3.5% per annum, payable annually on March 1 and September 1, commencing on September 1, 2021. The aggregate principal is payable at maturity, subject to earlier to earlier repurchase or optional redemption as described below. In conjunction with the issuance of the 2029 Senior Notes, we capitalized $9.0 million in debt issuance costs.
The 2029 Senior Notes are redeemable at our option, in whole or in part, any time prior to March 1, 2024 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% or the remaining scheduled payments of interest discounted to a present value amount. In the event of an equity offering prior to March 1, 2024, the 2029 Senior Notes may be partially redeemed with the net cash proceeds of such offering at our option at an amount equal to 103.5% of the principal amount, plus accrued and unpaid interest. On and after March 1, 2024, we may redeem the 2029 Senior Notes, in whole or in part, at an amount equal to 101.75% of the principal amount, increasing to 101.875% as of March 1, 2025, and decreasing to 100.0% as of March 1, 2026, 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 2029 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.
As of September 30, 2021, we were not in violation of any covenants of the 2027 Senior Notes or the 2029 Senior Notes.
Fair Value
The estimated fair values of our long-term debt instruments are based on observable market prices for these loans, which are traded in less active markets and therefore classified as Level 2 fair value measurements, and were as follows as of September 30, 2021:
2024 Term Loans$1,779.8 
2027 Term Loans$736.9 
2027 Senior Notes$625.9 
2029 Senior Notes$794.5 
Future Debt Maturities
Aggregate principal payments, exclusive of any unamortized original issue discount and debt issuance costs, due on long-term debt as of September 30, 2021 are as follows:
Year Ending December 31:
2021 (remainder of)$8.2 
202232.5 
202332.5 
20241,740.0 
20257.5 
Thereafter2,108.6 
$3,929.3 
v3.21.2
Derivatives and Hedging
 9 Months Ended
Sep. 30, 2021
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, all of which had maturities of 18 months or less as of September 30, 2021;
•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 risk management strategies related to our use of derivatives are consistent with those described in our 2020 Form 10-K.
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)
 September 30, 2021December 31, 2020September 30, 2021December 31, 2020September 30, 2021December 31, 2020
Derivative Instrument:
Level 2:
Foreign exchange forward contracts$333.9 $276.2 $6.3 $— $1.3 $15.8 
Cross-currency swap(1)
1,374.7 1,461.9 — — 100.8 167.2 
Interest rate swaps2,006.4 2,022.0 19.1 2.0 14.9 33.4 
Total hedges$3,715.0 $3,760.1 $25.4 $2.0 $117.0 $216.4 
_________________________________
(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 of approximately 1.16 and 1.22 as of September 30, 2021 and December 31, 2020, 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 accumulated other comprehensive income (loss) (AOCI):
Unrealized Gains (Losses) Recognized in Other Comprehensive Income
 Three Months EndedNine Months Ended
September 30, 2021September 30, 2020September 30, 2021September 30, 2020
Derivative Instrument:
Foreign exchange forward contracts(1)
$11.0 $(9.4)$14.0 $(3.1)
Cross-currency swap(5.3)(7.0)(10.8)23.4 
Interest rate swaps10.2 (5.9)35.5 (27.6)
Total hedges$15.9 $(22.3)$38.7 $(7.3)
_________________________________
(1)Amounts include gains and losses realized upon contract settlement but not yet recognized into earnings from AOCI.
The following tables summarize the locations and amounts of gains (losses) recognized within earnings related to our cash flow hedging relationships:
Three Months Ended September 30, 2021Three Months Ended September 30, 2020
RevenueInterest ExpenseOther Income (Expense), NetRevenueInterest ExpenseOther Income (Expense), Net
Foreign exchange forward contracts:
Reclassified from AOCI into income$(2.8)$— $— $0.7 $— $— 
Cross-currency swap:
Reclassified from AOCI into income(1)
— 6.8 33.2 — 7.0 (58.6)
Interest rate swaps:
Reclassified from AOCI into income— (8.8)— — (8.1)— 
Total hedges$(2.8)$(2.0)$33.2 $0.7 $(1.1)$(58.6)
_________________________________
(1)The amount reflected in other income (expense), net includes $(33.5) million and $58.2 million reclassified from AOCI to offset the earnings impact of the remeasurement of the Euro-denominated intercompany loan hedged by the cross-currency swap during the three months ended September 30, 2021 and 2020, respectively.
Nine Months Ended September 30, 2021Nine Months Ended September 30, 2020
RevenueInterest ExpenseOther Income (Expense), NetRevenueInterest ExpenseOther Income (Expense), Net
Foreign exchange forward contracts:
Reclassified from AOCI into income$(6.2)$— $— $2.7 $— $— 
Cross-currency swap:
Reclassified from AOCI into income(1)
— 20.1 76.2 — 22.1 (61.0)
Interest rate swaps:
Reclassified from AOCI into income— (26.1)— — (17.0)— 
Total hedges$(6.2)$(6.0)$76.2 $2.7 $5.1 $(61.0)
_________________________________
(1)The amount reflected in other income (expense), net includes $(77.2) million and $60.3 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 the nine months ended September 30, 2021 and 2020, respectively.
As of September 30, 2021, we estimate that $6.7 million of net deferred losses related to our designated cash flow hedges will be recognized in earnings over the next 12 months. No amounts have been excluded from our hedge effectiveness testing.
v3.21.2
Leases
 9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Leases Leases
Our operating leases primarily consist of office and data center space expiring at various dates through November 2036. As of September 30, 2021, operating leases have a remaining weighted average lease term of 7.5 years and our operating lease liabilities were measured using a weighted average discount rate of 5.0%.
The components of operating lease expense were as follows:
Three Months EndedNine Months Ended
 September 30, 2021September 30, 2020September 30, 2021September 30, 2020
Operating lease costs$12.1 $12.6 $36.4 $40.2 
Variable lease costs2.6 2.0 7.4 6.7 
Sublease income
(1.0)(0.5)(2.6)(2.3)
$13.7 $14.1 $41.2 $44.6 
v3.21.2
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
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. 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.
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 the plaintiffs' request for an incentive payment. Additionally, the actual notice and administration costs were lower than originally estimated.
As a result of the above developments, during 2020, we recorded a cumulative $10.0 million reduction to general and administrative expense, lowering our estimated loss provision for this settlement to $8.1 million as of December 31, 2020.
On January 19, 2021, a single objector to the settlement filed a notice of appeal to the 11th Circuit Court of Appeals, which remains pending as of the date of this filing. We made no changes to our estimated loss provision for this settlement during the three or nine months ended September 30, 2021. The timing of any settlement payments 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 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 believes, 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 not 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.
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 September 30, 2021 and December 31, 2020, our accrual for estimated indirect tax liabilities was $12.3 million and $10.1 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.
v3.21.2
Income Taxes
 9 Months Ended
Sep. 30, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
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 United Kingdom (U.K.), Germany and India. We anticipate this structure to remain in existence for the foreseeable future.
Our effective tax rates for the three and nine months ended September 30, 2021 differ from the U.S. federal statutory rate primarily due to 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.
On March 11, 2021, the U.S. federal government enacted the American Rescue Plan Act of 2021, which did not have a material impact on our benefit for income taxes.
On June 10, 2021, the U.K. enacted legislation increasing its corporate income tax rate to 25%, beginning in April 2023. As a result, we remeasured certain deferred tax assets and liabilities and recorded a charge of $4.0 million within our benefit for income taxes during the nine months ended September 30, 2021.
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 September 30, 2021, including our three year cumulative, consolidated 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 net operating losses (NOLs), credit carryforwards and other deferred tax assets (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 continued utilization of the tax attributes, we would consider that as significant positive evidence and our future reassessment may result in the determination that all or a portion of the valuation allowance is no longer required. If this were to occur, any reversal of the valuation allowance would result in a corresponding non-cash income tax benefit, thereby increasing total DTAs.
Uncertain Tax Positions
The total amount of gross unrecognized tax benefits was $99.3 million as of September 30, 2021, of which $24.9 million, if fully recognized, would decrease our effective tax rate. 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 provision or benefit for income taxes in the period in which a final determination is made.
v3.21.2
Income (Loss) Per Share
 9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Income (Loss) Per Share Income (Loss) Per Share
Basic 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 income (loss) per share is as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
 2021202020212020
Numerator:
Net income (loss)$97.7 $65.1 $155.4 $(564.9)
Less: net income attributable to non-controlling interests0.2 0.4 0.3 0.7 
Net income (loss) attributable to GoDaddy Inc.$97.5 $64.7 $155.1 $(565.6)
Denominator:
Weighted-average shares of Class A common stock outstanding—basic167,542 167,258 168,387 168,734 
Effect of dilutive securities:
Class B common stock350 1,069 445 — 
Stock options1,047 1,704 1,229 — 
RSUs, PSUs and ESPP shares884 1,374 1,663 — 
Weighted-average shares of Class A Common stock outstanding—diluted169,823 171,405 171,724 168,734 
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock—basic$0.58 $0.39 $0.92 $(3.35)
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock—diluted(1):
$0.58 $0.38 $0.90 $(3.35)
_________________________________
(1)The diluted income (loss) per share calculations exclude net income attributable to non-controlling interests.
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 potentially dilutive shares would have been antidilutive:
 Three Months Ended September 30,Nine Months Ended September 30,
 2021202020212020
Class B common stock— — — 1,220 
Stock options433 1,321 562 3,859 
RSUs, PSUs and ESPP shares761 413 619 1,825 
1,194 1,734 1,181 6,904 
Shares of Class B common stock do not share in our earnings and are not participating securities. Accordingly, separate presentation of income (loss) 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.
v3.21.2
Geographic Information
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Geographic Information Geographic Information
Revenue by geography is based on the customer's billing address and was as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
 2021202020212020
U.S.$644.3 $560.7 $1,856.4 $1,630.6 
International319.7 283.7 940.0 812.2 
$964.0 $844.4 $2,796.4 $2,442.8 
No international country represented more than 10% of total revenue in any period presented.
Property and equipment, net by geography was as follows:
 September 30, 2021December 31, 2020
U.S.$171.5 $198.3 
France25.5 27.0 
All other international31.5 32.0 
$228.5 $257.3 
No other international country represented more than 10% of property and equipment, net in any period presented.
v3.21.2
Accumulated Other Comprehensive Loss
 9 Months Ended
Sep. 30, 2021
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, 2020(2)
$(98.8)$(32.8)$(131.6)
Other comprehensive income (loss) before reclassifications31.6 (27.1)4.5 
Amounts reclassified from AOCI— 64.0 64.0 
Other comprehensive income31.6 36.9 68.5 
$(67.2)$4.1 (63.1)
Less: AOCI attributable to non-controlling interests0.1 
Balance as of September 30, 2021$(63.0)
Gross balance as of December 31, 2019(2)
$(54.6)$(24.3)$(78.9)
Other comprehensive income (loss) before reclassifications(44.0)44.3 0.3 
Amounts reclassified from AOCI— (53.2)(53.2)
Other comprehensive loss(44.0)(8.9)(52.9)
$(98.6)$(33.2)(131.8)
Less: AOCI attributable to non-controlling interests0.8 
Balance as of September 30, 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.
v3.21.2
Summary of Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
Basis of Presentation
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.
Our interim financial statements are unaudited, and in our opinion, include all adjustments of a normal recurring nature necessary for the fair presentation of the periods presented. The results for interim periods are not necessarily indicative of the results to be expected for any subsequent period or for the year ending December 31, 2021.
These financial statements should be read in conjunction with our audited financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2020 (the 2020 Form 10-K).
Prior Period Reclassification
Prior Period Reclassifications
Certain immaterial prior period amounts have been reclassified 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. 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 September 30, 2021, our chief operating decision maker was 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.
Assets Recognized from Contract Costs Assets Recognized from Contract CostsFees 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.
Equity Investments
Equity Investments
We hold investments in privately held equity securities, which are recorded in other assets and totaled $40.0 million at September 30, 2021. These securities are recorded at cost and adjusted for observable transactions for same or similar investments of the same issuer or impairment. Investment gains and losses are recorded in other income (expense), net.
Valuations of privately held securities are inherently complex and require judgment due to the lack of readily available observable market data. A security's carrying value is not adjusted if there are no observable price changes in a same or similar security from the same issuer or if there are no identified events or changes in circumstances that may indicate impairment. In determining the estimated fair value of our investments, we utilize the most recent data available to us. We assess our investments for impairment at least quarterly using both qualitative and quantitative factors. If an investment is considered impaired, we recognize an impairment loss and establish a new carrying value for the investment.
Recent Accounting Pronouncements
Recent Accounting Pronouncements
In March 2020, the FASB issued guidance providing temporary optional expedients and exceptions related to contract modifications and hedge accounting 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 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 contracts and hedging relationships that reference LIBOR.
v3.21.2
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
Fair Value of Assets and Liabilities Measured on a Recurring Basis
The following tables set forth our material assets and liabilities measured and recorded at fair value on a recurring basis:
September 30, 2021
Level 1Level 2Level 3Total
Assets:
 Cash and cash equivalents:
Money market funds and time deposits$304.1 $— $— $304.1 
 Derivative assets— 25.4 — 25.4 
Total assets$304.1 $25.4 $— $329.5 
Liabilities:
 Derivative liabilities$— $117.0 $— $117.0 
Total liabilities$— $117.0 $— $117.0 
December 31, 2020
Level 1Level 2Level 3Total
Assets:
 Cash and cash equivalents:
Money market funds$98.0 $— $— $98.0 
Total assets$98.0 $— $— $98.0 
Liabilities:
 Derivative liabilities $— $216.4 $— $216.4 
Total liabilities$— $216.4 $— $216.4 
v3.21.2
Business Acquisitions (Tables)
 9 Months Ended
Sep. 30, 2021
Business Combinations [Abstract]  
Summary of the Estimated Acquisition Date Fair Values of Assets Acquired and Liabilities Assumed The following table summarizes the preliminary estimated acquisition date fair values of the assets acquired and liabilities assumed:
Total purchase consideration$297.1 
Fair value of assets acquired and liabilities assumed:
Cash and cash equivalents3.2 
Indefinite-lived intangible assets1.3 
Finite-lived intangible assets51.8 
Other assets and liabilities, net0.8 
Total assets acquired, net of liabilities assumed57.1 
Goodwill$240.0 
v3.21.2
Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill The following table summarizes changes in our goodwill balance:
Balance at December 31, 2020$3,275.1 
Goodwill related to acquisitions263.4 
Impact of foreign currency translation(36.6)
Other(1.5)
Balance at September 30, 2021$3,500.4 
Schedule of Indefinite-Lived Intangible Assets
Intangible assets, net are summarized as follows:
September 30, 2021
Gross 
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio247.8 n/a247.8 
Contractual-based assets and other255.1 n/a255.1 
Finite-lived intangible assets:
Customer-related536.0 $(263.1)272.9 
Developed technology237.0 (121.8)115.2 
Trade names and other114.8 (41.9)72.9 
$1,835.7 $(426.8)$1,408.9 
 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 
Schedule of Finite-Lived Intangible Assets
Intangible assets, net are summarized as follows:
September 30, 2021
Gross 
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
Indefinite-lived intangible assets:
Trade names and branding$445.0 n/a$445.0 
Domain portfolio247.8 n/a247.8 
Contractual-based assets and other255.1 n/a255.1 
Finite-lived intangible assets:
Customer-related536.0 $(263.1)272.9 
Developed technology237.0 (121.8)115.2 
Trade names and other114.8 (41.9)72.9 
$1,835.7 $(426.8)$1,408.9 
 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 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense Based on the balance of finite-lived intangible assets as of September 30, 2021, expected future amortization expense is as follows:
Year Ending December 31:
2021 (remainder of)$32.7 
2022129.0 
2023102.4 
202483.5 
202578.6 
Thereafter34.8 
$461.0 
v3.21.2
Equity-Based Compensation Plans (Tables)
 9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Stock Award Activity
The following table summarizes stock option activity:
Number of
Shares of Class A Common Stock (#)		Weighted-
Average
Exercise
Price Per Share ($)
Outstanding at December 31, 2020
3,428 42.79 
Exercised(968)38.52 
Forfeited(227)68.65 
Outstanding at September 30, 2021
2,233 42.01 
Vested at September 30, 2021
1,882 37.01 
The following table summarizes stock award activity:
Number of
Shares of Class A Common Stock (#)
Outstanding at December 31, 20206,133 
Granted: RSUs3,613 
Granted: TSR-based PSUs426 
Vested(2,262)
Forfeited(1,178)
Outstanding at September 30, 2021(1)
6,732 
_________________________________
(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 Grant-Date Fair Value Per Share ($)
RSUs5,989 77.74
TSR-based PSUs586 107.02
Financial-based PSUs granted for accounting purposes79 78.62
Financial-based PSUs not yet granted for accounting purposes78 N/A
Outstanding at September 30, 20216,732 
v3.21.2
Deferred Revenue (Tables)
 9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
Composition of Deferred Revenue Deferred revenue consisted of the following:
September 30, 2021December 31, 2020
Current:
Domains$896.5 $810.7 
Hosting and presence618.9 574.8 
Business applications384.7 325.8 
$1,900.1 $1,711.3 
Noncurrent:
Domains$433.8 $410.4 
Hosting and presence217.9 218.1 
Business applications105.0 96.6 
$756.7 $725.1 
Expected Recognition of Deferred Revenue Deferred revenue as of September 30, 2021 represents our aggregate remaining performance obligations that will be recognized as revenue over the period in which the performance obligations are satisfied. Such recognition is expected to be as follows:
Remainder of 2021
2022202320242025ThereafterTotal
Domains$336.4 $640.8 $178.2 $74.7 $42.8 $57.4 $1,330.3 
Hosting and presence250.1 404.7 113.3 34.8 14.2 19.7 836.8 
Business applications155.1 251.6 63.1 14.9 2.7 2.3 489.7 
$741.6 $1,297.1 $354.6 $124.4 $59.7 $79.4 $2,656.8 
v3.21.2
Accrued Expenses and Other Current Liabilities (Tables)
 9 Months Ended
Sep. 30, 2021
Payables and Accruals [Abstract]  
Composition of Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following:
September 30, 2021December 31, 2020
Accrued payroll and employee benefits$123.7 $114.8 
Derivative liabilities117.0 216.4 
Tax-related accruals50.6 38.4 
Current portion of operating lease liabilities38.9 41.5 
Accrued marketing and advertising31.5 29.9 
Accrued legal and professional25.0 24.4 
Accrued acquisition-related expenses and acquisition consideration payable21.3 9.4 
Other77.8 52.8 
$485.8 $527.6 
v3.21.2
Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Composition of Long-Term Debt
Long-term debt consisted of the following:
 Maturity DateSeptember 30, 2021December 31, 2020
2024 Term Loans (effective interest rate of 2.3% at September 30, 2021 and 2.8% at December 31, 2020)
February 15, 2024$1,788.7 $1,807.4 
2027 Term Loans (effective interest rate of 2.4% at September 30, 2021 and 3.0% at December 31, 2020)
August 10, 2027740.6 746.2 
2027 Senior Notes (effective interest rate of 5.4% at September 30, 2021 and December 31, 2020)
December 1, 2027600.0 600.0 
2029 Senior Notes (effective interest rate of 3.6% at September 30, 2021)
March 1, 2029800.0 — 
Revolver
February 15, 2024— — 
Total3,929.3 3,153.6 
Less: unamortized original issue discount and debt issuance costs(1)
(41.5)(39.2)
Less: current portion of long-term debt(24.1)(24.3)
$3,863.7 $3,090.1 
_________________________________
(1)Original issue discount and debt issuance costs are amortized to interest expense over the life of the related debt instruments using the interest method.
Estimated Fair Values of Long-Term Debt Instruments The estimated fair values of our long-term debt instruments are based on observable market prices for these loans, which are traded in less active markets and therefore classified as Level 2 fair value measurements, and were as follows as of September 30, 2021:
2024 Term Loans$1,779.8 
2027 Term Loans$736.9 
2027 Senior Notes$625.9 
2029 Senior Notes$794.5 
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 September 30, 2021 are as follows:
Year Ending December 31:
2021 (remainder of)$8.2 
202232.5 
202332.5 
20241,740.0 
20257.5 
Thereafter2,108.6 
$3,929.3 
v3.21.2
Derivatives and Hedging (Tables)
 9 Months Ended
Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Outstanding Derivative Instruments
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)
 September 30, 2021December 31, 2020September 30, 2021December 31, 2020September 30, 2021December 31, 2020
Derivative Instrument:
Level 2:
Foreign exchange forward contracts$333.9 $276.2 $6.3 $— $1.3 $15.8 
Cross-currency swap(1)
1,374.7 1,461.9 — — 100.8 167.2 
Interest rate swaps2,006.4 2,022.0 19.1 2.0 14.9 33.4 
Total hedges$3,715.0 $3,760.1 $25.4 $2.0 $117.0 $216.4 
_________________________________
(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 of approximately 1.16 and 1.22 as of September 30, 2021 and December 31, 2020, 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 the Gains (Losses) Recognized within Earnings Related to Derivative Instruments
The following table summarizes the effect of our designated cash flow hedging derivative instruments on accumulated other comprehensive income (loss) (AOCI):
Unrealized Gains (Losses) Recognized in Other Comprehensive Income
 Three Months EndedNine Months Ended
September 30, 2021September 30, 2020September 30, 2021September 30, 2020
Derivative Instrument:
Foreign exchange forward contracts(1)
$11.0 $(9.4)$14.0 $(3.1)
Cross-currency swap(5.3)(7.0)(10.8)23.4 
Interest rate swaps10.2 (5.9)35.5 (27.6)
Total hedges$15.9 $(22.3)$38.7 $(7.3)
_________________________________
(1)Amounts include gains and losses realized upon contract settlement but not yet recognized into earnings from AOCI.
The following tables summarize the locations and amounts of gains (losses) recognized within earnings related to our cash flow hedging relationships:
Three Months Ended September 30, 2021Three Months Ended September 30, 2020
RevenueInterest ExpenseOther Income (Expense), NetRevenueInterest ExpenseOther Income (Expense), Net
Foreign exchange forward contracts:
Reclassified from AOCI into income$(2.8)$— $— $0.7 $— $— 
Cross-currency swap:
Reclassified from AOCI into income(1)
— 6.8 33.2 — 7.0 (58.6)
Interest rate swaps:
Reclassified from AOCI into income— (8.8)— — (8.1)— 
Total hedges$(2.8)$(2.0)$33.2 $0.7 $(1.1)$(58.6)
_________________________________
(1)The amount reflected in other income (expense), net includes $(33.5) million and $58.2 million reclassified from AOCI to offset the earnings impact of the remeasurement of the Euro-denominated intercompany loan hedged by the cross-currency swap during the three months ended September 30, 2021 and 2020, respectively.
Nine Months Ended September 30, 2021Nine Months Ended September 30, 2020
RevenueInterest ExpenseOther Income (Expense), NetRevenueInterest ExpenseOther Income (Expense), Net
Foreign exchange forward contracts:
Reclassified from AOCI into income$(6.2)$— $— $2.7 $— $— 
Cross-currency swap:
Reclassified from AOCI into income(1)
— 20.1 76.2 — 22.1 (61.0)
Interest rate swaps:
Reclassified from AOCI into income— (26.1)— — (17.0)— 
Total hedges$(6.2)$(6.0)$76.2 $2.7 $5.1 $(61.0)
_________________________________
(1)The amount reflected in other income (expense), net includes $(77.2) million and $60.3 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 the nine months ended September 30, 2021 and 2020, respectively.
v3.21.2
Leases (Tables)
 9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Components of Lease Expenses The components of operating lease expense were as follows:
Three Months EndedNine Months Ended
 September 30, 2021September 30, 2020September 30, 2021September 30, 2020
Operating lease costs$12.1 $12.6 $36.4 $40.2 
Variable lease costs2.6 2.0 7.4 6.7 
Sublease income
(1.0)(0.5)(2.6)(2.3)
$13.7 $14.1 $41.2 $44.6 
v3.21.2
Income (Loss) Per Share (Tables)
 9 Months Ended
Sep. 30, 2021
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 income (loss) per share is as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
 2021202020212020
Numerator:
Net income (loss)$97.7 $65.1 $155.4 $(564.9)
Less: net income attributable to non-controlling interests0.2 0.4 0.3 0.7 
Net income (loss) attributable to GoDaddy Inc.$97.5 $64.7 $155.1 $(565.6)
Denominator:
Weighted-average shares of Class A common stock outstanding—basic167,542 167,258 168,387 168,734 
Effect of dilutive securities:
Class B common stock350 1,069 445 — 
Stock options1,047 1,704 1,229 — 
RSUs, PSUs and ESPP shares884 1,374 1,663 — 
Weighted-average shares of Class A Common stock outstanding—diluted169,823 171,405 171,724 168,734 
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock—basic$0.58 $0.39 $0.92 $(3.35)
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock—diluted(1):
$0.58 $0.38 $0.90 $(3.35)
_________________________________
(1)The diluted income (loss) per share calculations exclude net income attributable to non-controlling interests.
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 potentially dilutive shares would have been antidilutive:
 Three Months Ended September 30,Nine Months Ended September 30,
 2021202020212020
Class B common stock— — — 1,220 
Stock options433 1,321 562 3,859 
RSUs, PSUs and ESPP shares761 413 619 1,825 
1,194 1,734 1,181 6,904 
v3.21.2
Geographic Information (Tables)
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Revenue by Geography Revenue by geography is based on the customer's billing address and was as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
 2021202020212020
U.S.$644.3 $560.7 $1,856.4 $1,630.6 
International319.7 283.7 940.0 812.2 
$964.0 $844.4 $2,796.4 $2,442.8 
Property and Equipment, Net by Geography Property and equipment, net by geography was as follows:
 September 30, 2021December 31, 2020
U.S.$171.5 $198.3 
France25.5 27.0 
All other international31.5 32.0 
$228.5 $257.3 
v3.21.2
Accumulated Other Comprehensive Loss (Tables)
 9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
OCI 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, 2020(2)
$(98.8)$(32.8)$(131.6)
Other comprehensive income (loss) before reclassifications31.6 (27.1)4.5 
Amounts reclassified from AOCI— 64.0 64.0 
Other comprehensive income31.6 36.9 68.5 
$(67.2)$4.1 (63.1)
Less: AOCI attributable to non-controlling interests0.1 
Balance as of September 30, 2021$(63.0)
Gross balance as of December 31, 2019(2)
$(54.6)$(24.3)$(78.9)
Other comprehensive income (loss) before reclassifications(44.0)44.3 0.3 
Amounts reclassified from AOCI— (53.2)(53.2)
Other comprehensive loss(44.0)(8.9)(52.9)
$(98.6)$(33.2)(131.8)
Less: AOCI attributable to non-controlling interests0.8 
Balance as of September 30, 2020$(131.0)
_________________________________
(1)Amounts shown for our foreign exchange forward contracts include gains and losses realized upon contract settlement but not yet recognized into earnings from AOCI.
(2)Beginning balance is presented on a gross basis, excluding the allocation of AOCI attributable to non-controlling interests.
v3.21.2
Organization and Background (Details)
 9 Months Ended
Sep. 30, 2021
segment
Class of Stock [Line Items]  
Number of operating segments 1
Number of reportable segments 1
Desert Newco, LLC  
Class of Stock [Line Items]  
LLC units held (as a percent) 99.80%
v3.21.2
Summary of Significant Accounting Policies - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Accounting Policies [Abstract]        
Amortization of contract costs $ 171.4 $ 161.0 $ 500.0 $ 481.7
Equity securities 40.0   40.0  
Restructuring and other [1] $ 15.4 $ (4.3) $ 15.4 $ (43.7)
[1]
Costs and operating expenses include equity-based compensation expense as follows:
Three months ended
 September 30,
Nine months ended
 September 30,
2021202020212020
Cost of revenue$0.3 $0.2 $0.7 $0.5 
Technology and development27.3 22.5 82.2 65.6 
Marketing and advertising5.6 5.7 18.8 15.7 
Customer care3.5 2.6 10.2 8.5 
General and administrative14.2 17.1 43.0 51.8 
Total equity-based compensation expense$50.9 $48.1 $154.9 $142.1 
v3.21.2
Summary of Significant Accounting Policies - Fair Value of Assets and Liabilities Measured on a Recurring Basis (Details) - Measured on a Recurring Basis - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Assets:    
Derivative assets $ 25.4  
Total assets 329.5 $ 98.0
Liabilities:    
Derivative liabilities 117.0 216.4
Total liabilities 117.0 216.4
Money market funds and time deposits    
Assets:    
Cash and cash equivalents 304.1 98.0
Level 1    
Assets:    
Derivative assets 0.0  
Total assets 304.1 98.0
Liabilities:    
Derivative liabilities 0.0 0.0
Total liabilities 0.0 0.0
Level 1 | Money market funds and time deposits    
Assets:    
Cash and cash equivalents 304.1 98.0
Level 2    
Assets:    
Derivative assets 25.4  
Total assets 25.4 0.0
Liabilities:    
Derivative liabilities 117.0 216.4
Total liabilities 117.0 216.4
Level 2 | Money market funds and time deposits    
Assets:    
Cash and cash equivalents 0.0 0.0
Level 3    
Assets:    
Derivative assets 0.0  
Total assets 0.0 0.0
Liabilities:    
Derivative liabilities 0.0 0.0
Total liabilities 0.0 0.0
Level 3 | Money market funds and time deposits    
Assets:    
Cash and cash equivalents $ 0.0 $ 0.0
v3.21.2
Business Acquisitions - Narrative (Details) - Poynt Co. - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended
Feb. 28, 2021
Mar. 31, 2021
Sep. 30, 2021
Business Acquisition [Line Items]      
Cash paid to acquire business $ 297.1    
Cash paid at closing recorded as compensation expense   $ 29.4  
Cash payable in future periods upon expiration of the contractual holdback period $ 45.0    
Acquisition agreement, performance and conditions period 3 years    
Expected amount of goodwill deductible for income tax purposes     $ 0.0
Weighted average amortization period of acquired finite-lived intangible assets 4 years 2 months 12 days    
v3.21.2
Business Acquisitions - Summary of the Estimated Acquisition Date Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Feb. 28, 2021
Dec. 31, 2020
Fair value of assets acquired and liabilities assumed:      
Goodwill $ 3,500.4   $ 3,275.1
Poynt Co.      
Business Acquisition [Line Items]      
Total purchase consideration   $ 297.1  
Fair value of assets acquired and liabilities assumed:      
Cash and cash equivalents   3.2  
Indefinite-lived intangible assets   1.3  
Finite-lived intangible assets   51.8  
Other assets and liabilities, net   0.8  
Total assets acquired, net of liabilities assumed   57.1  
Goodwill   $ 240.0  
v3.21.2
Goodwill and Intangible Assets - Schedule of Goodwill (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2021
USD ($)
Goodwill [Roll Forward]  
Balance at December 31, 2020 $ 3,275.1
Goodwill related to acquisitions 263.4
Impact of foreign currency translation (36.6)
Other (1.5)
Balance at September 30, 2021 $ 3,500.4
v3.21.2
Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]    
Accumulated Amortization $ (426.8) $ (659.2)
Net Carrying Amount 461.0  
Gross  Carrying Amount 1,835.7 1,914.3
Net Carrying Amount 1,408.9 1,255.1
Trade names and branding    
Indefinite-lived Intangible Assets [Line Items]    
Carrying Amount 445.0 445.0
Domain portfolio    
Indefinite-lived Intangible Assets [Line Items]    
Carrying Amount 247.8 250.3
Contractual-based assets and other    
Indefinite-lived Intangible Assets [Line Items]    
Carrying Amount 255.1 67.0
Customer-related    
Finite-Lived Intangible Assets [Line Items]    
Gross  Carrying Amount 536.0 857.0
Accumulated Amortization (263.1) (534.7)
Net Carrying Amount 272.9 322.3
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross  Carrying Amount 237.0 188.1
Accumulated Amortization (121.8) (90.7)
Net Carrying Amount 115.2 97.4
Trade names and other    
Finite-Lived Intangible Assets [Line Items]    
Gross  Carrying Amount 114.8 106.9
Accumulated Amortization (41.9) (33.8)
Net Carrying Amount $ 72.9 $ 73.1
v3.21.2
Goodwill and Intangible Assets - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Finite-Lived Intangible Assets [Line Items]        
Purchases of intangible assets     $ 201.8 $ 0.0
Variable earn-out payment $ 12.0   12.0  
Amortization expense $ 32.6 $ 32.0 94.7 $ 94.3
Contractual-based assets and other        
Finite-Lived Intangible Assets [Line Items]        
TDL's indefinite-lived contractual-based intangible assets     $ 186.8  
Weighted Average        
Finite-Lived Intangible Assets [Line Items]        
Weighted average remaining amortization period     51 months  
Customer-related        
Finite-Lived Intangible Assets [Line Items]        
Weighted average remaining amortization period     51 months  
Developed technology        
Finite-Lived Intangible Assets [Line Items]        
Weighted average remaining amortization period     37 months  
Trade names and other        
Finite-Lived Intangible Assets [Line Items]        
Weighted average remaining amortization period     68 months  
v3.21.2
Goodwill and Intangible Assets - Future Amortization of Finite Lived Intangible Assets (Details)
$ in Millions
Sep. 30, 2021
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2021 (remainder of) $ 32.7
2022 129.0
2023 102.4
2024 83.5
2025 78.6
Thereafter 34.8
Net Carrying Amount $ 461.0
v3.21.2
Stockholders' Equity (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2020
Mar. 31, 2020
Sep. 30, 2021
Sep. 30, 2020
May 31, 2021
Class of Stock [Line Items]                
Share repurchase program, additional shares authorized               $ 775,000,000
Up-front payment for repurchase of common stock           $ 526,000,000.0 $ 541,700,000  
Aggregate purchase price $ 250,100,000 $ 80,800,000 $ 195,100,000 $ 143,700,000 $ 398,000,000.0      
Share repurchase program, remaining available amount under approved programs $ 749,200,000         $ 749,200,000    
Class A Common Stock                
Class of Stock [Line Items]                
Repurchases of Class A common stock (in shares)           3,500,000    
Average price per share (in dollars per share)           $ 78.83    
Aggregate purchase price           $ 275,900,000    
Class A Common Stock | Accelerated Share Repurchase Agreement                
Class of Stock [Line Items]                
Up-front payment for repurchase of common stock           $ 250,000,000    
Repurchases of Class A common stock (in shares) 3,425              
Average price per share (in dollars per share) $ 72.99              
v3.21.2
Equity-Based Compensation Plans - Narrative (Details) - USD ($)
shares in Thousands, $ in Millions
 9 Months Ended
Sep. 30, 2021
Jan. 01, 2021
Stock options    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Unrecognized compensation costs $ 6.9  
Weighted average recognition period 1 year 7 months 6 days  
RSUs    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Unrecognized compensation costs $ 364.9  
Weighted average recognition period 2 years 7 months 6 days  
2015 Equity Incentive Plan | Class A Common Stock | Equity Incentive Plan    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Additional shares reserved for future issuance (in shares)   6,794
Shares reserved for issuance (in shares) 31,500  
2015 Employee Stock Purchase Plan | Class A Common Stock | ESPP    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Additional shares reserved for future issuance (in shares)   1,000
Shares reserved for issuance (in shares) 4,790  
v3.21.2
Equity-Based Compensation Plans - Summary of Stock Option Activity (Details)
shares in Thousands
 9 Months Ended
Sep. 30, 2021
$ / shares
shares
Number of Shares of Class A Common Stock (#)  
Outstanding at beginning of period (in shares) | shares 3,428
Exercised (in shares) | shares (968)
Forfeited (in shares) | shares (227)
Outstanding at end of period (in shares) | shares 2,233
Vested at end of period (in shares) | shares 1,882
Weighted- Average Exercise Price Per Share ($)  
Outstanding weighted average exercise price (in dollars per share) | $ / shares $ 42.79
Exercised (in dollars per share) | $ / shares 38.52
Forfeited (in dollars per share) | $ / shares 68.65
Outstanding weighted average exercise price (in dollars per share) | $ / shares 42.01
Vested at end of period (in dollars per share) | $ / shares $ 37.01
v3.21.2
Equity-Based Compensation Plans - Summary of Stock Award Activity (Details)
 9 Months Ended
Sep. 30, 2021
$ / shares
shares
Number of Shares of Class A Common Stock (#)  
Outstanding at beginning of period (in shares) 6,133,000
Vested (in shares) (2,262,000)
Forfeited (in shares) (1,178,000)
Outstanding at end of period (in shares) 6,732,000
RSUs  
Number of Shares of Class A Common Stock (#)  
Granted (in shares) 3,613,000
Outstanding at end of period (in shares) 5,989,000
Weighted-average grant-date fair value per share (in dollars per share) | $ / shares $ 77.74
TSR-based PSUs  
Number of Shares of Class A Common Stock (#)  
Granted (in shares) 426,000
Outstanding at end of period (in shares) 586,000
Weighted-average grant-date fair value per share (in dollars per share) | $ / shares $ 107.02
Financial-based PSUs granted for accounting purposes  
Number of Shares of Class A Common Stock (#)  
Outstanding at end of period (in shares) 79,000
Weighted-average grant-date fair value per share (in dollars per share) | $ / shares $ 78.62
Financial-based PSUs not yet granted for accounting purposes  
Number of Shares of Class A Common Stock (#)  
Outstanding at end of period (in shares) 78,000
v3.21.2
Deferred Revenue - Composition of Deferred Revenue (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Disaggregation of Revenue [Line Items]    
Deferred revenue, current $ 1,900.1 $ 1,711.3
Deferred revenue, noncurrent 756.7 725.1
Domains    
Disaggregation of Revenue [Line Items]    
Deferred revenue, current 896.5 810.7
Deferred revenue, noncurrent 433.8 410.4
Hosting and presence    
Disaggregation of Revenue [Line Items]    
Deferred revenue, current 618.9 574.8
Deferred revenue, noncurrent 217.9 218.1
Business applications    
Disaggregation of Revenue [Line Items]    
Deferred revenue, current 384.7 325.8
Deferred revenue, noncurrent $ 105.0 $ 96.6
v3.21.2
Deferred Revenue - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]    
Revenue recognized $ 402.5 $ 1,606.0
v3.21.2
Deferred Revenue - Expected Recognition of Deferred Revenue (Details)
$ in Millions
Sep. 30, 2021
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 2,656.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 741.6
Expected recognition period 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 1,297.1
Expected recognition period 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]  
Deferred revenue expected to be recognized as revenue $ 354.6
Expected recognition period 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]  
Deferred revenue expected to be recognized as revenue $ 124.4
Expected recognition period 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]  
Deferred revenue expected to be recognized as revenue $ 59.7
Expected recognition period 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]  
Deferred revenue expected to be recognized as revenue $ 79.4
Expected recognition period
Domains  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 1,330.3
Domains | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 336.4
Expected recognition period 3 months
Domains | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 640.8
Expected recognition period 1 year
Domains | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 178.2
Expected recognition period 1 year
Domains | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 74.7
Expected recognition period 1 year
Domains | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 42.8
Expected recognition period 1 year
Domains | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 57.4
Expected recognition period
Hosting and presence  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 836.8
Hosting and presence | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 250.1
Expected recognition period 3 months
Hosting and presence | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 404.7
Expected recognition period 1 year
Hosting and presence | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 113.3
Expected recognition period 1 year
Hosting and presence | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 34.8
Expected recognition period 1 year
Hosting and presence | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 14.2
Expected recognition period 1 year
Hosting and presence | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 19.7
Expected recognition period
Business applications  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 489.7
Business applications | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 155.1
Expected recognition period 3 months
Business applications | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 251.6
Expected recognition period 1 year
Business applications | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 63.1
Expected recognition period 1 year
Business applications | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 14.9
Expected recognition period 1 year
Business applications | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 2.7
Expected recognition period 1 year
Business applications | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue expected to be recognized as revenue $ 2.3
Expected recognition period
v3.21.2
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Payables and Accruals [Abstract]    
Accrued payroll and employee benefits $ 123.7 $ 114.8
Derivative liabilities 117.0 216.4
Tax-related accruals 50.6 38.4
Current portion of operating lease liabilities $ 38.9 $ 41.5
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other current liabilities Accrued expenses and other current liabilities
Accrued marketing and advertising $ 31.5 $ 29.9
Accrued legal and professional 25.0 24.4
Accrued acquisition-related expenses and acquisition consideration payable 21.3 9.4
Other 77.8 52.8
Accrued expenses and other current liabilities $ 485.8 $ 527.6
v3.21.2
Long-Term Debt - Composition of Long-Term Debt (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Debt Instrument [Line Items]    
Long-term debt $ 3,929.3 $ 3,153.6
Less unamortized original issue discount and debt issuance costs (41.5) (39.2)
Less: current portion of long-term debt (24.1) (24.3)
Long-term debt, net of current portion 3,863.7 3,090.1
2024 Term Loans | Secured Debt    
Debt Instrument [Line Items]    
Long-term debt $ 1,788.7 $ 1,807.4
Effective interest rate percentage 2.30% 2.80%
2027 Term Loans | Secured Debt    
Debt Instrument [Line Items]    
Long-term debt $ 740.6 $ 746.2
Effective interest rate percentage 2.40% 3.00%
2027 Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Long-term debt $ 600.0 $ 600.0
Effective interest rate percentage 5.40% 5.40%
2029 Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Long-term debt $ 800.0 $ 0.0
Effective interest rate percentage 3.60%  
Revolver | Line of Credit | Revolving Credit Facility    
Debt Instrument [Line Items]    
Long-term debt $ 0.0 $ 0.0
v3.21.2
Long-Term Debt - Narrative (Details) - USD ($)
 1 Months Ended
Mar. 31, 2021
Feb. 28, 2021
Sep. 30, 2021
2029 Senior Notes | Senior Notes      
Debt Instrument [Line Items]      
Face amount of long-term debt   $ 800,000,000  
Stated interest rate   3.50%  
Debt issuance costs   $ 9,000,000  
Redemption price as a percentage of principal amount   100.00%  
Redemption premium percentage   1.00%  
Redemption price as a percentage of principal amount in the event of a change of control   101.00%  
2029 Senior Notes | Senior Notes | Prior to March 1, 2024      
Debt Instrument [Line Items]      
Redemption price percentage   103.50%  
2029 Senior Notes | Senior Notes | On and After March 1, 2024      
Debt Instrument [Line Items]      
Redemption price as a percentage of principal amount   101.75%  
2029 Senior Notes | Senior Notes | At March 1, 2025      
Debt Instrument [Line Items]      
Redemption price as a percentage of principal amount   101.875%  
2029 Senior Notes | Senior Notes | Thereafter      
Debt Instrument [Line Items]      
Redemption price as a percentage of principal amount   100.00%  
Line of Credit | 2027 Term Loans | LIBOR      
Debt Instrument [Line Items]      
Decrease in interest rate margins as a result of refinancing 0.50%    
Line of Credit | 2027 Term Loans | LIBOR | Option 1      
Debt Instrument [Line Items]      
Basis spread on variable rate 2.00%    
Line of Credit | 2027 Term Loans | LIBOR | Option 2      
Debt Instrument [Line Items]      
Basis spread on variable rate 1.00%    
Line of Credit | 2027 Term Loans | Base Rate      
Debt Instrument [Line Items]      
Basis spread on variable rate 1.00%    
Line of Credit | 2027 Term Loans | Federal Funds Rate      
Debt Instrument [Line Items]      
Basis spread on variable rate 0.50%    
Line of Credit | Revolver      
Debt Instrument [Line Items]      
Available borrowing capacity     $ 600,000,000
v3.21.2
Long-Term Debt - Estimated Fair Values of Long-Term Debt Instruments (Details) - Level 2
$ in Millions
Sep. 30, 2021
USD ($)
2024 Term Loans | Secured Debt  
Debt Instrument [Line Items]  
Estimated fair value of long-term debt $ 1,779.8
2027 Term Loans | Secured Debt  
Debt Instrument [Line Items]  
Estimated fair value of long-term debt 736.9
2027 Senior Notes | Senior Notes  
Debt Instrument [Line Items]  
Estimated fair value of long-term debt 625.9
2029 Senior Notes | Senior Notes  
Debt Instrument [Line Items]  
Estimated fair value of long-term debt $ 794.5
v3.21.2
Long-Term Debt - Aggregate Principal Payments Due on Long-Term Debt (Details) - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Debt Disclosure [Abstract]    
2021 (remainder of) $ 8.2  
2022 32.5  
2023 32.5  
2024 1,740.0  
2025 7.5  
Thereafter 2,108.6  
Aggregate principal payments $ 3,929.3 $ 3,153.6
v3.21.2
Derivatives and Hedging - Narrative (Details)
 9 Months Ended
Sep. 30, 2021
USD ($)
Derivative [Line Items]  
Net deferred losses from cash flow hedges $ (6,700,000)
Amounts excluded from effectiveness testing $ 0
Cash Flow Hedging | Designated as Hedging Instrument | Foreign exchange forward contracts  
Derivative [Line Items]  
Derivative contract term 18 months
v3.21.2
Derivatives and Hedging - Summary of Outstanding Derivative Instruments (Details) - Cash Flow Hedging - Designated as Hedging Instrument
$ in Millions
Sep. 30, 2021
USD ($)
€ / $
Dec. 31, 2020
USD ($)
€ / $
Level 2    
Derivative [Line Items]    
Notional amount $ 3,715.0 $ 3,760.1
Level 2 | Prepaid Expenses and Other Current Assets    
Derivative [Line Items]    
Fair value of derivative assets 25.4 2.0
Level 2 | Accrued Expenses and Other Current Liabilities    
Derivative [Line Items]    
Fair value of derivative liabilities 117.0 216.4
Foreign exchange forward contracts | Level 2    
Derivative [Line Items]    
Notional amount 333.9 276.2
Foreign exchange forward contracts | Level 2 | Prepaid Expenses and Other Current Assets    
Derivative [Line Items]    
Fair value of derivative assets 6.3 0.0
Foreign exchange forward contracts | Level 2 | Accrued Expenses and Other Current Liabilities    
Derivative [Line Items]    
Fair value of derivative liabilities $ 1.3 $ 15.8
Cross-currency swap    
Derivative [Line Items]    
Euro to U.S. dollar exchange rate for translation | € / $ 1.16 1.22
Cross-currency swap | Level 2    
Derivative [Line Items]    
Notional amount $ 1,374.7 $ 1,461.9
Cross-currency swap | Level 2 | Prepaid Expenses and Other Current Assets    
Derivative [Line Items]    
Fair value of derivative assets 0.0 0.0
Cross-currency swap | Level 2 | Accrued Expenses and Other Current Liabilities    
Derivative [Line Items]    
Fair value of derivative liabilities 100.8 167.2
Interest rate swaps | Level 2    
Derivative [Line Items]    
Notional amount 2,006.4 2,022.0
Interest rate swaps | Level 2 | Prepaid Expenses and Other Current Assets    
Derivative [Line Items]    
Fair value of derivative assets 19.1 2.0
Interest rate swaps | Level 2 | Accrued Expenses and Other Current Liabilities    
Derivative [Line Items]    
Fair value of derivative liabilities $ 14.9 $ 33.4
v3.21.2
Derivatives and Hedging - Summary of the Gains (Losses) Recognized within Earnings Related to Derivative Instruments (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Derivative [Line Items]        
Unrealized Gains (Losses) Recognized in Other Comprehensive Income [1] $ 4.6 $ (13.4) $ 22.9 $ (5.8)
Revenue 964.0 844.4 2,796.4 2,442.8
Interest Expense 32.5 23.9 93.8 64.5
Other Income (Expense), Net (1.2) 1.2 (1.4) (1.3)
Reclassification out of Accumulated Other Comprehensive Income | Net Unrealized Gains (Losses) on Cash Flow Hedges        
Derivative [Line Items]        
Revenue (2.8) 0.7 (6.2) 2.7
Interest Expense (2.0) (1.1) (6.0) 5.1
Other Income (Expense), Net 33.2 (58.6) 76.2 (61.0)
Cash Flow Hedging | Designated as Hedging Instrument        
Derivative [Line Items]        
Unrealized Gains (Losses) Recognized in Other Comprehensive Income 15.9 (22.3) 38.7 (7.3)
Foreign exchange forward contracts | Reclassification out of Accumulated Other Comprehensive Income | Net Unrealized Gains (Losses) on Cash Flow Hedges        
Derivative [Line Items]        
Revenue (2.8) 0.7 (6.2) 2.7
Interest Expense 0.0 0.0 0.0 0.0
Other Income (Expense), Net 0.0 0.0 0.0 0.0
Foreign exchange forward contracts | Cash Flow Hedging | Designated as Hedging Instrument        
Derivative [Line Items]        
Unrealized Gains (Losses) Recognized in Other Comprehensive Income 11.0 (9.4) 14.0 (3.1)
Cross-currency swap | Reclassification out of Accumulated Other Comprehensive Income | Net Unrealized Gains (Losses) on Cash Flow Hedges        
Derivative [Line Items]        
Revenue 0.0 0.0 0.0 0.0
Interest Expense 6.8 7.0 20.1 22.1
Other Income (Expense), Net 33.2 (58.6) 76.2 (61.0)
Cross-currency swap | Reclassification out of Accumulated Other Comprehensive Income | Net Unrealized Gains (Losses) on Cash Flow Hedges | Euro-Denominated Intercompany Loan        
Derivative [Line Items]        
Other Income (Expense), Net (33.5) 58.2 (77.2) 60.3
Cross-currency swap | Cash Flow Hedging | Designated as Hedging Instrument        
Derivative [Line Items]        
Unrealized Gains (Losses) Recognized in Other Comprehensive Income (5.3) (7.0) (10.8) 23.4
Interest rate swaps | Reclassification out of Accumulated Other Comprehensive Income | Net Unrealized Gains (Losses) on Cash Flow Hedges        
Derivative [Line Items]        
Revenue 0.0 0.0 0.0 0.0
Interest Expense (8.8) (8.1) (26.1) (17.0)
Other Income (Expense), Net 0.0 0.0 0.0 0.0
Interest rate swaps | Cash Flow Hedging | Designated as Hedging Instrument        
Derivative [Line Items]        
Unrealized Gains (Losses) Recognized in Other Comprehensive Income $ 10.2 $ (5.9) $ 35.5 $ (27.6)
[1]
Components of OCI are net of the tax effects reflected below:
Unrealized swap gain (loss), net0.3 0.5 1.8 1.6 
v3.21.2
Leases - Narrative (Details)
Sep. 30, 2021
Leases [Abstract]  
Operating lease, remaining weighted average lease term 7 years 6 months
Operating lease, weighted average discount rate 5.00%
v3.21.2
Leases - Components of Lease Expenses (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Leases [Abstract]        
Operating lease costs $ 12.1 $ 12.6 $ 36.4 $ 40.2
Variable lease costs 2.6 2.0 7.4 6.7
Sublease income (1.0) (0.5) (2.6) (2.3)
Operating lease expense $ 13.7 $ 14.1 $ 41.2 $ 44.6
v3.21.2
Commitments and Contingencies (Details)
 12 Months Ended
Dec. 16, 2019
case
Jun. 13, 2019
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Sep. 30, 2021
USD ($)
Loss Contingencies [Line Items]          
Number of cases settled | case 2        
Estimated loss provision recorded       $ 18,100,000  
Reduction in the estimated loss provision for settlement     $ 10,000,000    
Estimated loss provision for settlement     8,100,000    
Indirect Taxation          
Loss Contingencies [Line Items]          
Accrual for estimated indirect tax liabilities     $ 10,100,000   $ 12,300,000
Class Action Complaint | Pending Litigation          
Loss Contingencies [Line Items]          
Proposed settlement amount (up to)   $ 35,000,000      
v3.21.2
Income Taxes (Details)
$ in Millions
 3 Months Ended
Sep. 30, 2021
USD ($)
Income Tax Disclosure [Abstract]  
Charge within provision for income taxes $ 4.0
Unrecognized tax benefits 99.3
Unrecognized tax benefits that if fully recognized would decrease the effective tax rate $ 24.9
v3.21.2
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
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Sep. 30, 2021
Sep. 30, 2020
Numerator:                
Net income (loss) $ 97.7 $ 46.9 $ 10.8 $ 65.1 $ (673.2) $ 43.2 $ 155.4 $ (564.9)
Less: net income attributable to non-controlling interests 0.2     0.4     0.3 0.7
Net income (loss) attributable to GoDaddy Inc. $ 97.5     $ 64.7     $ 155.1 $ (565.6)
Class A Common Stock                
Denominator:                
Weighted-average shares of Class A common stock outstanding—basic (in shares) 167,542     167,258     168,387 168,734
Weighted-average shares of Class A Common stock outstanding—diluted (in shares) 169,823     171,405     171,724 168,734
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock—basic (in USD per share) $ 0.58     $ 0.39     $ 0.92 $ (3.35)
Net income (loss) attributable to GoDaddy Inc. per share of Class A common stock—diluted (in USD per share) $ 0.58     $ 0.38     $ 0.90 $ (3.35)
Class B Common Stock                
Denominator:                
Effect of dilutive securities (in shares) 350     1,069     445 0
Stock options                
Denominator:                
Effect of dilutive securities (in shares) 1,047     1,704     1,229 0
RSUs, PSUs and ESPP shares                
Denominator:                
Effect of dilutive securities (in shares) 884     1,374     1,663 0
v3.21.2
Income (Loss) Per Share - Summary of Weighted Average Potentially Dilutive Shares (Details) - shares
shares in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities (in shares) 1,194 1,734 1,181 6,904
Class B Common Stock        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities (in shares) 0 0 0 1,220
Stock options        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities (in shares) 433 1,321 562 3,859
RSUs, PSUs and ESPP shares        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities (in shares) 761 413 619 1,825
v3.21.2
Income (Loss) Per Share - Narrative (Details)
Sep. 30, 2021
shares
Class B Common Stock  
Class of Stock [Line Items]  
Conversion feature of Class B common stock, number of Class A common shares 1
v3.21.2
Geographic Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]          
Revenue $ 964.0 $ 844.4 $ 2,796.4 $ 2,442.8  
Property and equipment, net 228.5   228.5   $ 257.3
U.S.          
Revenues from External Customers and Long-Lived Assets [Line Items]          
Revenue 644.3 560.7 1,856.4 1,630.6  
Property and equipment, net 171.5   171.5   198.3
France          
Revenues from External Customers and Long-Lived Assets [Line Items]          
Property and equipment, net 25.5   25.5   27.0
International          
Revenues from External Customers and Long-Lived Assets [Line Items]          
Revenue 319.7 $ 283.7 940.0 $ 812.2  
All other international          
Revenues from External Customers and Long-Lived Assets [Line Items]          
Property and equipment, net $ 31.5   $ 31.5   $ 32.0
v3.21.2
Accumulated Other Comprehensive Loss - AOCI Activity in Equity (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance $ (11.8) $ 782.1
Other comprehensive income (loss) before reclassifications 4.5 0.3
Amounts reclassified from AOCI 64.0 (53.2)
Other comprehensive income (loss) 68.5 (52.9)
Ending balance (101.1) (163.8)
Foreign Currency Translation Adjustments    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance (98.8) (54.6)
Other comprehensive income (loss) before reclassifications 31.6 (44.0)
Amounts reclassified from AOCI 0.0 0.0
Other comprehensive income (loss) 31.6 (44.0)
Ending balance (67.2) (98.6)
Net Unrealized Gains (Losses) on Cash Flow Hedges    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance (32.8) (24.3)
Other comprehensive income (loss) before reclassifications (27.1) 44.3
Amounts reclassified from AOCI 64.0 (53.2)
Other comprehensive income (loss) 36.9 (8.9)
Ending balance 4.1 (33.2)
AOCI Including Portion Attributable to Noncontrolling Interest    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance (131.6) (78.9)
Ending balance (63.1) (131.8)
AOCI Attributable to Noncontrolling Interest    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Ending balance (0.1) (0.8)
AOCI Attributable to Parent    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance (131.0) (78.2)
Ending balance $ (63.0) $ (131.0)
v3.21.2
Accumulated Other Comprehensive Loss - Narrative (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Amounts reclassified from AOCI $ (64.0) $ 53.2
Foreign Currency Translation Adjustments    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Amounts reclassified from AOCI $ 0.0 $ 0.0