v3.22.4
Equity-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Equity-based Compensation Expense Included in Selling, General and Administrative A summary of equity-based compensation recognized during the years ended December 31, 2022, 2021, and 2020 is as follows:
For the Years Ended December 31,
202220212020
(in millions)
Class B Units$— $— $1 
Restricted Stock Units and Awards excluding those granted in relation to the CEO Milestone Gift41 35 21 
Restricted Stock Units granted in relation to the CEO Milestone Gift39 — — 
Options13 11 7 
Class A Units— 1 2 
Total equity-based compensation93 47 31 
Equity-based compensation capitalized to property and equipment(8)(7)(6)
Equity-based compensation capitalized to inventory(16)(1)— 
Equity-based compensation, net of capitalized amounts$69 $39 $25 
Schedule of Unrecognized Compensation Costs
As of December 31, 2022, unrecognized equity-based compensation related to outstanding awards and the related weighted-average period over which it is expected to be recognized subsequent to December 31, 2022 is presented in the table below. Total unrecognized equity-based compensation will be adjusted for actual forfeitures.

Unrecognized Equity-Based Compensation Related to Outstanding Awards (in millions)Remaining Weighted-Average Amortization Period (in years)
Restricted Stock Units and Awards$109 3.0
Options31 2.8
Total unrecognized equity-based compensation$140 
Schedule of Restricted Stock Unit Activity RSA and RSU activity during the years ended December 31, 2022, 2021, and 2020 was as follows:
Number of RSAs/RSUs (in thousands)Weighted-Average Grant-Date Fair Value
Outstanding at January 1, 2020928 $48.04 
Granted342 $110.00 
Settled(475)$45.80 
Forfeited(57)$70.89 
Outstanding and nonvested at December 31, 2020738 $76.43 
Granted258 $288.27 
Settled(385)$86.57 
Forfeited(58)$132.88 
Outstanding and nonvested at December 31, 2021
553 $162.32 
Granted3,482 $65.26 
Settled(432)$113.96 
Forfeited(951)$134.83 
Outstanding and nonvested at December 31, 2022
2,652 $52.62 
Schedule of Stock Options Activity
Stock option activity during the years ended December 31, 2022, 2021, and 2020 was as follows:

Number of Options (in thousands)Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Life (in years)Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 20201,147 $30.07 8.3$71 
Options granted179 $88.56 n/a
Options exercised(195)$27.82 $24 
Options forfeited or expired(59)$16.52 n/a
Outstanding at December 31, 20201,072 $41.01 7.7$213 
Options granted97 $178.42 n/a
Options exercised(75)$24.32 $20 
Options forfeited or expired(28)$27.62 n/a
Outstanding at December 31, 20211,066 $39.74 6.7$183 
Options granted297 $119.53 n/a
Options exercised(89)$37.89 $7 
Options forfeited or expired(9)$30.97 n/a
Outstanding at December 31, 20221,265 $80.26 6.4$— 
Vested and exercisable as of December 31, 2022823 $52.04 5.5$— 
Expected to vest as of December 31, 2022442 $132.91 8.1$— 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The Company determined the grant-date fair value of the options granted during the years ended December 31, 2022, 2021, and 2020 using the Black-Scholes valuation model with the following weighted-average assumptions:

Years Ended December 31,
202220212020
Expected volatility(1)
69.2 %67.1 %70.1 %
Expected dividend yield— %— %— %
Expected term (in years)(2)
6.286.146.14
Risk-free interest rate2.0 %0.7 %1.4 %
Weighted-average grant-date fair value per option$74.85$178.41$53.62
(1) Measured using the Company's historical data, market option volatility and selected high-growth guideline companies and considering the risk factors that would influence the range of expected volatility because the Company does not have sufficient historical data to provide a reasonable basis upon which to estimate the expected volatility for the entirety of the term.
(2) Expected term represents the estimated period of time until an option is exercised and was determined using the simplified method because the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term.
Class A Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Common Units
A summary of the Class A Unit activity for the years ended December 31, 2022, 2021, and 2020 is as follows:

Class A Units
Number of Class A Units (in thousands)Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2020221 
Granted— n/a
Exchanged(100)$18.58 
Forfeited— n/a
Outstanding at December 31, 2020121 
Granted— n/a
Exchanged(36)$18.58 
Forfeited— n/a
Outstanding at December 31, 202185 
Granted— n/a
Exchanged— n/a
Forfeited(6)$18.58 
Outstanding at December 31, 202279 
Vested as of December 31, 202279 $18.58 
Expected to vest as of December 31, 2022— n/a
Class B Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Common Units
A summary of the Class B Unit activity for the years ended December 31, 2022, 2021, and 2020 is as follows:

Class B Units
Number of Class B Units (in thousands)Weighted-Average Participation Threshold per Class B Unit
Outstanding at January 1, 20205,168 $3.51 
Granted— n/a
Exchanged(1,991)$1.22 
Forfeited(14)$5.81 
Outstanding at December 31, 20203,163 $4.94 
Granted— n/a
Exchanged(535)$1.70 
Forfeited(1)$12.00 
Outstanding at December 31, 20212,627 $5.60 
Granted— n/a
Exchanged(61)$5.75 
Forfeited— n/a
Outstanding at December 31, 20222,566 $5.60 
Vested as of December 31, 20222,566 $5.60 
Expected to vest as of December 31, 2022— n/a