Dropbox (DBX) 10-Q 6 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Aug. 02, 2021
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-38434
Entity Registrant Name	Dropbox, Inc.
Entity Central Index Key	0001467623
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0138832
Entity Address, Address Line One	1800 Owens Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94158
City Area Code	415
Local Phone Number	857-6800
Title of 12(b) Security	Class A Common Stock, par value $0.00001 per share
Trading Symbol	DBX
Security Exchange Name	NASDAQ
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
Class A common stock
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		315,320,393
Class B common stock
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		83,145,237
Class C common stock
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 885.3	$ 314.9
Short-term investments	1,058.9	806.4
Trade and other receivables, net	52.2	43.4
Prepaid expenses and other current assets	70.9	62.8
Total current assets	2,067.3	1,227.5
Property and equipment, net	342.9	338.7
Operating lease right-of-use asset	437.6	470.5
Intangible assets, net	48.9	33.5
Goodwill	346.8	236.9
Other assets	84.6	80.1
Total assets	3,328.1	2,387.2
Current liabilities:
Accounts payable	31.6	18.7
Accrued and other current liabilities	158.7	156.7
Accrued compensation and benefits	76.4	113.6
Operating lease liability	86.9	88.7
Finance lease obligation	113.9	99.6
Deferred revenue	657.5	610.5
Total current liabilities	1,125	1,087.8
Operating lease liability, non-current	723.4	759.6
Finance lease obligation, non-current	174	171.6
Convertible senior notes, net, non-current	1,368.4	0
Other non-current liabilities	32.1	34.4
Total liabilities	3,422.9	2,053.4
Commitments and contingencies (Note 10)
Stockholders' (deficit) equity:
Additional paid-in-capital	2,446.9	2,564.3
Accumulated deficit	(2,547.5)	(2,241.4)
Accumulated other comprehensive income	5.8	10.9
Total stockholders' (deficit) equity	(94.8)	333.8
Total liabilities and stockholders' (deficit) equity	$ 3,328.1	$ 2,387.2

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue		$ 530.6	$ 467.4	$ 1,042.2	$ 922.4
Cost of revenue	[1]	107.1	102.5	216.4	205.6
Gross profit		423.5	364.9	825.8	716.8
Operating expenses
Research and development	[1]	185.5	185.8	366.7	367.6
Sales and marketing	[1]	100.8	102.8	203.5	207.1
General and administrative	[1]	52.8	63.5	111.4	102.5
Impairment related to real estate assets	[1]	0	0	17.3	0
Total operating expenses	[1]	339.1	352.1	698.9	677.2
Income from operations		84.4	12.8	126.9	39.6
Interest income (expense), net		(0.9)	0.1	(2.1)	2.5
Other income, net		7.5	9	12.6	19.6
Income before income taxes		91	21.9	137.4	61.7
Provision for income taxes		(3)	(4.4)	(1.8)	(4.9)
Net income		$ 88	$ 17.5	$ 135.6	$ 56.8
Basic net income per share (in dollars per share)		$ 0.23	$ 0.04	$ 0.34	$ 0.14
Diluted net income per share (in dollars per share)		$ 0.22	$ 0.04	$ 0.34	$ 0.14
Weighted-average shares used in computing net income per share attributable to common shareholders, basic (in shares)		388.4	414.1	393.3	415.7
Weighted-average shares used in computing net income per share attributable to common shareholders, diluted (in shares)		397	420.5	401.2	419.7
[1]	Includes stock-based compensation as follows (in millions): Three Months Ended Six Months Ended 2021 2020 2021 2020 Cost of revenue $ 5.9 $ 4.5 $ 11.3 $ 8.0 Research and development 49.5 47.0 93.0 84.2 Sales and marketing 6.2 9.5 13.1 16.2 General and administrative (2) 12.3 15.6 24.4 8.0

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions		Mar. 19, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Reversal of stock based compensation expense		$ 23.8
Reversal of stock based compensation expense previously recognized		$ 21.5
Cost of revenue
Allocated share-based compensation expense			$ 5.9	$ 4.5	$ 11.3	$ 8
Research and development
Allocated share-based compensation expense			49.5	47	93	84.2
Sales and marketing
Allocated share-based compensation expense			6.2	9.5	13.1	16.2
General and administrative
Allocated share-based compensation expense	[1]		$ 12.3	$ 15.6	$ 24.4	$ 8
[1]	On March 19, 2020, one of the Company's co-founders resigned as a member of the board and as an officer of the Company, resulting in the reversal of $23.8 million in stock-based compensation expense. Of the total amount reversed, $21.5 million related to expense recognized prior to December 31, 2019. See Note 12 "Stockholders' (Deficit) Equity" for further information.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 88	$ 17.5	$ 135.6	$ 56.8
Other comprehensive income (loss):
Change in foreign currency translation adjustments	1.1	2.9	(0.7)	(0.3)
Change in net unrealized gains and losses on short-term investments	0.1	6	(4.4)	4.4
Total other comprehensive income (loss)	1.2	8.9	(5.1)	4.1
Comprehensive income	$ 89.2	$ 26.4	$ 130.5	$ 60.9

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' (Deficit) Equity - USD ($) shares in Millions, $ in Millions	Total	Class A and Class B common stock	Additional paid in capital	Accumulated deficit	Accumulated other comprehensive income (loss)
Shares outstanding, beginning of the period (in shares) at Dec. 31, 2019		417
Shareholders equity, beginning balance at Dec. 31, 2019	$ 808.4	$ 0	$ 2,531.3	$ (1,726.2)	$ 3.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and awards (in shares)		6.1
Shares withheld related to net share settlement of restricted stock units and awards (in shares)		(2.2)
Shares withheld related to net share settlement of restricted stock units and awards	(44)		(20.3)	(23.7)
Repurchases of common stock (in shares)		(7.4)
Repurchases of common stock	(139.8)		(68.5)	(71.3)
Exercise of stock options and awards (in shares)		0.3
Exercise of stock options and awards	1.5		1.5
Assumed stock options in connection with acquisition	0
Purchase of bond hedges in connection with issuance of convertible senior notes	0
Sale of warrants in connection with issuance of convertible senior notes	0
Tax benefit attributable to bond hedges purchased in connection with issuance of convertible senior notes	0
Stock-based compensation	116.4		116.4
Other comprehensive income	4.1				4.1
Net income	56.8			56.8
Shares outstanding, end of the period (in shares) at Jun. 30, 2020		413.8
Shareholders equity, ending balance at Jun. 30, 2020	803.4	$ 0	2,560.4	(1,764.4)	7.4
Shares outstanding, beginning of the period (in shares) at Mar. 31, 2020		415.1
Shareholders equity, beginning balance at Mar. 31, 2020	800.4	$ 0	2,528.5	(1,726.6)	(1.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and awards (in shares)		3.4
Shares withheld related to net share settlement of restricted stock units and awards (in shares)		(1.2)
Shares withheld related to net share settlement of restricted stock units and awards	(25.1)		(11)	(14.1)
Repurchases of common stock (in shares)		(3.7)
Repurchases of common stock	(75.8)		(34.6)	(41.2)
Exercise of stock options and awards (in shares)		0.2
Exercise of stock options and awards	0.9		0.9
Tax benefit attributable to bond hedges purchased in connection with issuance of convertible senior notes	0
Stock-based compensation	76.6		76.6
Other comprehensive income	8.9				8.9
Net income	17.5			17.5
Shares outstanding, end of the period (in shares) at Jun. 30, 2020		413.8
Shareholders equity, ending balance at Jun. 30, 2020	803.4	$ 0	2,560.4	(1,764.4)	7.4
Shares outstanding, beginning of the period (in shares) at Dec. 31, 2020		405.7
Shareholders equity, beginning balance at Dec. 31, 2020	$ 333.8	$ 0	2,564.3	(2,241.4)	10.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and awards (in shares)		6.9
Shares withheld related to net share settlement of restricted stock units and awards (in shares)	(2.5)	(2.5)
Shares withheld related to net share settlement of restricted stock units and awards	$ (62.7)		(19.3)	(43.4)
Repurchases of common stock (in shares)		(24.1)
Repurchases of common stock	$ (582.7)		(184.4)	(398.3)
Exercise of stock options and awards (in shares)	0.5	0.5
Exercise of stock options and awards	$ 5.5		5.5
Assumed stock options in connection with acquisition	1.2		1.2
Purchase of bond hedges in connection with issuance of convertible senior notes	(265.3)		(265.3)
Sale of warrants in connection with issuance of convertible senior notes	202.9		202.9
Tax benefit attributable to bond hedges purchased in connection with issuance of convertible senior notes	0.2		0.2
Stock-based compensation	141.8		141.8
Other comprehensive income	(5.1)				(5.1)
Net income	135.6			135.6
Shares outstanding, end of the period (in shares) at Jun. 30, 2021		386.5
Shareholders equity, ending balance at Jun. 30, 2021	(94.8)	$ 0	2,446.9	(2,547.5)	5.8
Shares outstanding, beginning of the period (in shares) at Mar. 31, 2021		389.8
Shareholders equity, beginning balance at Mar. 31, 2021	(83)	$ 0	2,420.2	(2,507.8)	4.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and awards (in shares)		3.1
Shares withheld related to net share settlement of restricted stock units and awards (in shares)		(1)
Shares withheld related to net share settlement of restricted stock units and awards	(26.9)		(8.1)	(18.8)
Repurchases of common stock (in shares)		(5.5)
Repurchases of common stock	(150.8)		(41.9)	(108.9)
Exercise of stock options and awards (in shares)		0.1
Exercise of stock options and awards	2.6		2.6
Tax benefit attributable to bond hedges purchased in connection with issuance of convertible senior notes	0.2		0.2
Stock-based compensation	73.9		73.9
Other comprehensive income	1.2				1.2
Net income	88			88
Shares outstanding, end of the period (in shares) at Jun. 30, 2021		386.5
Shareholders equity, ending balance at Jun. 30, 2021	$ (94.8)	$ 0	$ 2,446.9	$ (2,547.5)	$ 5.8

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($)		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Cash flow from operating activities
Net income		$ 135,600,000	$ 56,800,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		71,500,000	79,600,000
Stock-based compensation		141,800,000	116,400,000
Impairment related to real estate assets	[1]	17,300,000	0
Amortization of debt issuance costs		1,700,000	300,000
Net gains on equity investments		0	(17,500,000)
Amortization of deferred commissions		15,400,000	10,800,000
Other		(6,200,000)	(100,000)
Changes in operating assets and liabilities:
Trade and other receivables, net		(8,600,000)	(8,800,000)
Prepaid expenses and other current assets		(23,800,000)	(22,400,000)
Other assets		39,100,000	32,800,000
Accounts payable		12,200,000	(12,800,000)
Accrued and other current liabilities		(8,300,000)	(24,700,000)
Accrued compensation and benefits		(37,600,000)	(30,300,000)
Deferred revenue		44,400,000	28,700,000
Other non-current liabilities		(60,500,000)	(26,200,000)
Tenant improvement allowance reimbursement		1,600,000	16,600,000
Net cash provided by operating activities		335,600,000	199,200,000
Cash flow from investing activities
Capital expenditures		(10,800,000)	(53,900,000)
Business combinations, net of cash acquired		(125,400,000)	0
Purchases of short-term investments		(693,700,000)	(429,200,000)
Proceeds from sales of short-term investments		171,200,000	145,300,000
Proceeds from maturities of short-term investments		264,000,000	138,900,000
Other		17,500,000	9,300,000
Net cash used in investing activities		(377,200,000)	(189,600,000)
Cash flow from financing activities
Proceeds from issuance of convertible senior notes		1,389,100,000	0
Purchases of convertible note hedge in connection with issuance of convertible senior notes		(265,300,000)	0
Proceeds from sale of warrants in connection with issuance of convertible senior notes		202,900,000	0
Payments of debt issuance costs		(23,700,000)	0
Payments for taxes related to net share settlement of restricted stock units and awards		(62,700,000)	(44,000,000)
Proceeds from issuance of common stock, net of taxes withheld		5,500,000	1,500,000
Principal payments on finance lease obligations		(50,700,000)	(43,400,000)
Common stock repurchases		(582,700,000)	(139,800,000)
Other		0	(500,000)
Net cash provided by (used in) financing activities		612,400,000	(226,200,000)
Effect of exchange rate changes on cash and cash equivalents		(400,000)	(600,000)
Change in cash and cash equivalents		570,400,000	(217,200,000)
Cash and cash equivalents - beginning of period		314,900,000	551,300,000
Cash and cash equivalents - end of period		885,300,000	334,100,000
Supplemental cash flow data:
Property and equipment acquired under finance leases		$ 67,300,000	$ 64,400,000
[1]	Includes stock-based compensation as follows (in millions): Three Months Ended Six Months Ended 2021 2020 2021 2020 Cost of revenue $ 5.9 $ 4.5 $ 11.3 $ 8.0 Research and development 49.5 47.0 93.0 84.2 Sales and marketing 6.2 9.5 13.1 16.2 General and administrative (2) 12.3 15.6 24.4 8.0

Description of the Business and

Description of the Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business and Summary of Significant Accounting Policies	Description of the Business and Summary of Significant Accounting Policies Business Dropbox, Inc. (the “Company” or “Dropbox”) helps keep life organized and work moving. Dropbox was incorporated in May 2007 as Evenflow, Inc., a Delaware corporation, and changed its name to Dropbox, Inc. in October 2009. The Company is headquartered in San Francisco, California. Basis of presentation and consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the United States of America generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the SEC regarding interim financial reporting. The accompanying unaudited condensed consolidated financial statements include the accounts of Dropbox and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated balance sheet as of December 31, 2020 included herein was derived from the audited financial statements as of that date. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, statements of comprehensive income, statements of stockholders' (deficit) equity and the statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ended December 31, 2021 or any future period. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended December 31, 2020, included in the Company's Annual Report on Form 10-K on file with the SEC ("Annual Report"). Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s condensed consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the condensed consolidated financial statements. Management evaluates these estimates and assumptions on a regular basis. Actual results may differ materially from these estimates. The Company’s most significant estimates and judgments involves the valuation of acquired intangible assets and goodwill from business combinations as well as the valuation of right-of-use and other lease related assets. Financial information about segments and geographic areas The Company manages its operations and allocates resources as a single operating segment. Further, the Company manages, monitors, and reports its financials as a single reporting segment. The Company’s chief operating decision-maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. See Note 15 "Geographic Areas" for information regarding the Company’s long-lived assets and revenue by geography. Foreign currency transactions The assets and liabilities of the Company’s foreign subsidiaries are translated from their respective functional currencies into U.S. dollars at the exchange rates in effect at the balance sheet date. Revenue and expense amounts are translated at the average exchange rate for the period. Foreign currency translation gains and losses are recorded in other comprehensive income. Gains and losses realized from foreign currency transactions (those transactions denominated in currencies other than the foreign subsidiaries’ functional currency) are included in other income, net. Monetary assets and liabilities are remeasured using foreign currency exchange rates at the end of the period, and non-monetary assets are remeasured based on historical exchange rates. The Company recorded net foreign currency transaction gains of $0.4 million and $0.6 million during the three and six months ended June 30, 2021, respectively, and net foreign currency transaction gains of $1.2 million and losses of $0.1 million during the three and six months ended June 30, 2020, respectively. Revenue recognition The Company derives its revenue from subscription fees from customers for access to its platform. The Company’s policy is to exclude sales and other indirect taxes when measuring the transaction price of its subscription agreements. The Company accounts for revenue contracts with customers through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, the Company satisfies a performance obligation The Company’s subscription agreements generally have monthly or annual contractual terms and a small percentage have multi-year contractual terms. Revenue is recognized ratably over the related contractual term beginning on the date that the platform is made available to a customer. Access to the platform represents a series of distinct services as the Company continually provides access to, and fulfills its obligation to the end customer over the subscription term. The series of distinct services represents a single performance obligation that is satisfied over time. The Company recognizes revenue ratably because the customer receives and consumes the benefits of the platform throughout the contract period. The Company’s contracts are generally non-cancelable. The Company bills in advance for monthly contracts and typically bills annually in advance for contracts with terms of one year or longer. The Company also recognizes an immaterial amount of contract assets, or unbilled receivables, primarily relating to consideration for services completed but not billed at the reporting date. Unbilled receivables are classified as receivables when the Company has the right to invoice the customer. The Company records contract liabilities when cash payments are received or due in advance of performance to deferred revenue. Deferred revenue primarily relates to the advance consideration received from the customer. The price of subscriptions is generally fixed at contract inception and therefore, the Company’s contracts do not contain a significant amount of variable consideration. As a result, the amount of revenue recognized in the periods presented from performance obligations satisfied (or partially satisfied) in previous periods was not material. The Company recognized $298.2 million and $463.2 million of revenue during the three and six months ended June 30, 2021, respectively, and recognized $267.1 million and $421.2 million of revenue during the three and six months ended June 30, 2020, respectively, that was included in the deferred revenue balances at the beginning of their respective periods. As of June 30, 2021, future estimated revenue related to performance obligations that were unsatisfied or partially unsatisfied was $715.0 million. The substantial majority of the unsatisfied performance obligations will be satisfied over the next twelve months. Stock-based compensation The Company has primarily granted restricted stock units ("RSUs") to its employees and members of the Board of Directors under the 2008 Equity Incentive Plan (“2008 Plan”), the 2017 Equity Incentive Plan (“2017 Plan”), and the 2018 Equity Incentive Plan ("2018 Plan" and together with the 2008 Plan and 2017 Plan, the "Dropbox Equity Incentive Plans"). The RSUs granted by the Company under the Dropbox Equity Incentive Plans have a service-based vesting condition over a four-year period. These awards typically have a cliff vesting period of one year and continue to vest quarterly thereafter. The Company recognizes compensation expense associated with RSUs ratably on a straight-line basis over the requisite service period and accounts for forfeitures in the period in which they occur. As of June 30, 2021, the Company had RSUs and restricted stock awards ("RSAs") granted to certain executives outstanding under the Dropbox Equity Incentive Plans. The fair values of the common stock underlying the RSUs granted in periods prior to the date of the Company's initial public offering ("IPO") were determined by the Board of Directors, with input from management and contemporaneous third-party valuations, which were performed at least quarterly. For valuations after the Company's IPO, the Board of Directors determines the fair value of each share of underlying common stock based on the closing price of the Company's Class A common stock as reported on the Nasdaq Global Select Market on the date of the grant. In connection with the acquisition of DocSend, Inc. ("DocSend"), the Company assumed unvested stock options and an immaterial number of unvested RSUs that had been granted under DocSend's 2013 Stock Plan and DocSend's 2015 Stock Option and Grant Plan. The fair value of the DocSend options assumed were based upon the Black-Scholes option-pricing model. See Note 12 "Stockholders' (Deficit) Equity" for further information. In December 2017, the Board of Directors approved a grant to the Company’s co-founders of RSAs with respect to 14.7 million shares of Class A common stock in the aggregate (collectively, the “Co-Founder Grants”), of which 10.3 million RSAs were granted to Mr. Houston, the Company’s co-founder and Chief Executive Officer, and 4.4 million RSAs were granted to Mr. Ferdowsi, the Company's co-founder and a former director. These Co-Founder Grants have service-based, market-based, and performance-based vesting conditions. The Company estimated the grant date fair value of the Co-Founder Grants using a model based on multiple stock price paths developed through the use of a Monte Carlo simulation that incorporates into the valuation the possibility that the Stock Price Targets may not be satisfied. Effective March 19, 2020, Mr. Ferdowsi resigned as a member of the Board of Directors and as an officer of the Company. As of the date of Mr. Ferdowsi's resignation, none of the Stock Price Targets had been met, resulting in the forfeiture of his 4.4 million RSAs. See Note 12 "Stockholders' (Deficit) Equity" for further information. Cost of revenue Cost of revenue consists primarily of expenses associated with the storage, delivery, and distribution of the Company’s platform for both paying users and free users, also known as Basic users. These costs, which are referred to as infrastructure costs, include depreciation of servers located in co-location facilities that the Company leases and operates, rent and facilities expense for those datacenters, network and bandwidth costs, support and maintenance costs for infrastructure equipment, and payments to third-party datacenter service providers. Cost of revenue also includes costs, such as salaries, bonuses, benefits, travel-related expenses, and stock-based compensation, which are referred to as employee-related costs, for employees whose primary responsibilities relate to supporting the Company’s infrastructure and delivering user support. Other non-employee costs included in cost of revenue include credit card fees related to processing customer transactions and allocated overhead, such as facilities, including rent, utilities, depreciation on leasehold improvements and other equipment shared by all departments, and shared information technology costs. In addition, cost of revenue includes amortization of developed technologies, professional fees related to user support initiatives, and property taxes related to the datacenters. Cash and cash equivalents Cash consists primarily of cash on deposit with banks and includes amounts in transit from payment processors for credit and debit card transactions, which typically settle within five business days. Cash equivalents include highly liquid investments purchased with an original maturity date of 90 days or less from the date of purchase. The Company monitors its credit risk by considering factors such as historical experience, credit ratings, current economic conditions, and reasonable and supportable forecasts. Short-term investments The Company’s short-term investments are primarily comprised of corporate notes and obligations, U.S. Treasury securities, certificates of deposit, asset-backed securities, commercial paper, U.S. agency obligations, foreign government securities, supranational securities and municipal securities. The Company determines the appropriate classification of its short-term investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its short-term investments as available-for-sale securities as the Company may sell these securities at any time for use in its current operations or for other purposes, even prior to maturity. As a result, the Company classifies its short-term investments, including securities with stated maturities beyond twelve months, within current assets in the condensed consolidated balance sheets. The Company's short-term investments are recorded at fair value each reporting period. Unrealized gains and losses on these short-term investments are reported as a separate component of accumulated other comprehensive income in the condensed consolidated balance sheets until realized. Unrealized gains and losses for any short-term investments that management intends to sell or it is more likely than not that management will be required to sell prior to their anticipated recovery are recorded in other income, net. The Company segments its portfolio based on the underlying risk profiles of the securities and has a zero-loss expectation for U.S. treasury and U.S. government agency securities. The Company regularly reviews the securities in an unrealized loss position and evaluates the current expected credit loss by considering factors such as credit ratings, issuer-specific factors, current economic conditions, and reasonable and supportable forecasts. The Company did not record any material credit losses during the three and six months ended June 30, 2021. Concentrations of credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, accounts receivable, and short-term investments. The Company places its cash and cash equivalents and short-term investments with well-established financial institutions. One distribution partner accounted for 47% of total trade and other receivables, net as of June 30, 2021. Two distribution partners accounted for 11% and 28% of total trade and other receivables, net as of December 31, 2020. No customer accounted for more than 10% of the Company’s revenue in the periods presented. Deferred commissions, net Deferred commissions, net is stated as gross deferred commissions less accumulated amortization. Sales commissions earned by the Company’s sales force and third-party resellers, as well as related payroll taxes, are considered to be incremental and recoverable costs of obtaining a contract with a customer. These amounts have been capitalized as deferred commissions within prepaid and other current assets and other assets on the condensed consolidated balance sheets. The Company deferred incremental costs of obtaining a contract of $4.9 million and $9.8 million during the three and six months ended June 30, 2021, respectively, and $11.2 million and $19.0 million during the three and six months ended June 30, 2020, respectively. Deferred commissions, net included in prepaid and other current assets were $27.7 million and $26.7 million as of June 30, 2021 and December 31, 2020, respectively. Deferred commissions, net included in other assets were $40.7 million and $47.3 million as of June 30, 2021 and December 31, 2020, respectively. Commissions related to new contracts are typically deferred and amortized over a period of benefit of five years. The period of benefit was estimated by considering factors such as historical customer attrition rates, the useful life of the Company’s technology, and the impact of competition in its industry. Commissions that are commensurate with renewal commissions are typically amortized over one year. Amortized costs were $7.7 million and $15.4 million for the three and six months ended June 30, 2021, respectively, $5.7 million and $10.8 million for the three and six months ended June 30, 2020. Amortized costs are included in sales and marketing expense in the accompanying condensed consolidated statements of operations. There was no material impairment loss in relation to the deferred costs during the three and six months ended June 30, 2021. Property and equipment, net Equipment is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of the related asset, which is generally three The following table presents the estimated useful lives of property and equipment: Property and equipment Useful life Buildings 20 to 30 years Datacenter and other computer equipment 3 to 5 years Office equipment and other 3 to 7 years Leasehold improvements Lesser of estimated useful life or remaining lease term Lease obligations The Company leases office space, data centers, and equipment under non-cancelable finance and operating leases with various expiration dates through 2036. The Company determines if an arrangement contains a lease at inception. Operating lease right-of-use assets and lease liabilities are recognized at the present value of the future lease payments at commencement date. The interest rate implicit in the Company’s operating leases is not readily determinable, and therefore an incremental borrowing rate is estimated to determine the present value of future payments. The estimated incremental borrowing rate factors in a hypothetical interest rate on a collateralized basis with similar terms, payments, and economic environments. Operating lease right-of-use assets also include any prepaid lease payments and lease incentives. Certain of the operating lease agreements contain rent concession, rent escalation, and option to renew provisions. Rent concession and rent escalation provisions are considered in determining the single lease cost to be recorded over the lease term. Single lease cost is recognized on a straight-line basis over the lease term commencing on the date the Company has the right to use the leased property. The lease terms may include options to extend or terminate the lease. The Company generally uses the base, non-cancelable, lease term when recognizing the lease assets and liabilities, unless it is reasonably certain that the option will be exercised. In addition, certain operating lease agreements contain tenant improvement allowances from its landlords. These allowances are accounted for as lease incentives and decrease the Company's right-of-use asset and reduce single lease cost over the lease term. As part of the Company's Virtual First strategy, Dropbox will retain a portion of its office space to be used for the Company’s team collaboration use and a portion will be marketed for sublease. During the first quarter of 2021, the Company recorded an impairment charge of $17.3 million related to right-of-use assets and other lease related property and equipment assets. During the fourth quarter of 2020, the Company recorded an impairment charge of $398.2 million related to right-of-use assets and other lease related property and equipment assets. These impairment charges were recorded in conjunction with the Company's decision to move towards a Virtual First work model. See Note 9 "Leases" for further information. The Company leases certain equipment from various third parties, through equipment finance leases. These leases either include a bargain purchase option, a full transfer of ownership at the completion of the lease term, or the terms of the leases are at least 75 percent of the useful lives of the assets and are therefore classified as finance leases. These leases are capitalized in property and equipment, net and the related amortization of assets under finance leases is included in depreciation and amortization expense in the Company’s condensed consolidated statements of operations. Initial asset values and finance lease obligations are based on the present value of future minimum lease payments. The Company’s finance lease agreements may contain lease and non-lease components. The non-lease components include payments for support on infrastructure equipment obtained via finance leases, which when not significant in relation to the overall agreement, are combined with the lease components and accounted for together as a single lease component. Business combinations The Company uses best estimates and assumptions, including but not limited to, future expected cash flows, expected asset lives, and discount rates, to assign a fair value to the tangible and intangible assets acquired and liabilities assumed in business combinations as of the acquisition date. These estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed may be recorded, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s condensed consolidated statements of operations. Long-lived assets, including goodwill and other acquired intangible assets, net The Company evaluates the recoverability of its property and equipment and finite-lived intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. The evaluation is performed at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If such review determines that the carrying amount of specific property and equipment or intangible assets is not recoverable, the carrying amount of such assets is reduced to its fair value. The Company reviews goodwill for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances would more likely than not reduce the fair value of its single reporting unit below its carrying value. The Company has not recorded impairment charges on goodwill or intangible assets for the periods presented in these condensed consolidated financial statements. During the first quarter of 2021 and the fourth quarter of 2020, the Company recorded impairment charges in conjunction with the Company's decision to move towards a Virtual First work model. See Note 9 "Leases" for further information. Acquired property and equipment and finite-lived intangible assets are amortized over their useful lives. The Company evaluates the estimated remaining useful life of these assets when events or changes in circumstances warrant a revision to the remaining period of amortization. If the Company revises the estimated useful life assumption for any asset, the remaining unamortized balance is amortized or depreciated over the revised estimated useful life on a prospective basis. Income taxes Deferred income tax balances reflect the effects of temporary differences between the financial reporting and tax bases of the Company’s assets and liabilities using enacted tax rates expected to apply when taxes are actually paid or recovered. In addition, deferred tax assets are recorded for net operating loss and credit carryforwards. A valuation allowance is provided against deferred tax assets unless it is more likely than not that they will be realized based on all available positive and negative evidence. Such evidence includes, but is not limited to, recent cumulative earnings or losses, expectations of future taxable income by taxing jurisdiction, and the carry-forward periods available for the utilization of deferred tax assets. The Company uses a two-step approach to recognizing and measuring uncertain income tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. Although the Company believes that it has adequately reserved for its uncertain tax positions, it can provide no assurance that the final tax outcome of these matters will not be materially different. The Company evaluates its uncertain tax positions on a regular basis and evaluations are based on a number of factors, including changes in facts and circumstances, changes in tax law, correspondence with tax authorities during the course of an audit, and effective settlement of audit issues. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made and could have a material impact on the Company’s financial condition and results of operations. Fair value measurement The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which it would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions, and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability. Recently adopted accounting pronouncements In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40). This ASU simplifies the accounting for convertible instruments and contracts in an entity’s own equity, as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. Among other changes, the new guidance eliminates the requirement to separate the convertible debt into debt and equity components, unless the conversion feature is required to be bifurcated and accounted for as a derivative or the debt is issued at a substantial premium. As a result, after adopting the guidance, entities will no longer separately present such embedded conversion features in equity, and will instead account for the convertible debt wholly as debt. The ASU also removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. Lastly, entities are required to use the if-converted method for convertible instruments in the diluted earnings per share calculation. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, but only at the beginning of the fiscal year. This update permits the use of either the modified retrospective or fully retrospective method of transition. The Company early adopted this guidance as of January 1, 2021 using the modified retrospective approach. The adoption of the guidance did not have an impact on the Company’s financial statement as of the adoption date. As further discussed in Note 8 "Debt", the Company issued certain convertible senior notes and entered into certain contracts in the Company’s own equity during the six months ended June 30, 2021, and the accounting for these instruments was based on the guidance in ASU 2020-06. Additionally, the impact on diluted earnings per share of the convertible senior notes was calculated based on the if-converted method, as further described in Note 13 "Net Income Per Share" for further information.

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-Term Investments	6 Months Ended
	Jun. 30, 2021
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Short-Term Investments	Cash, Cash Equivalents and Short-Term Investments The amortized cost, unrealized gains and losses and estimated fair value of the Company's cash, cash equivalents and short-term investments as of June 30, 2021 and December 31, 2020 consisted of the following: As of June 30, 2021 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash $ 70.5 $ — $ — $ 70.5 Cash equivalents Money market funds 790.1 — — 790.1 Commercial paper 21.1 — — 21.1 Certificates of deposit 3.6 — — 3.6 Total cash & cash equivalents $ 885.3 $ — $ — $ 885.3 Short-term investments Corporate notes and obligations 467.2 1.3 (0.5) 468.0 U.S. Treasury securities 229.4 0.2 (1.1) 228.5 Asset backed securities 119.0 0.3 (0.2) 119.1 Commercial paper 77.5 — — 77.5 Municipal securities 62.9 0.1 (0.2) 62.8 Certificates of deposit 53.1 — — 53.1 Foreign government obligations 18.4 — — 18.4 Supranational Securities 17.0 — — 17.0 U.S. agency obligations 14.6 — (0.1) 14.5 Total short-term investments 1,059.1 1.9 (2.1) 1,058.9 Total $ 1,944.4 $ 1.9 $ (2.1) $ 1,944.2 As of December 31, 2020 Amortized cost Unrealized gain Unrealized loss Estimated fair value Cash $ 67.2 $ — $ — $ 67.2 Cash equivalents Money market funds 222.6 — — 222.6 U.S. Treasury securities 10.6 — — 10.6 Commercial paper 8.0 — — 8.0 Corporate notes and obligations 5.0 — — 5.0 Municipal securities 1.5 1.5 Total cash and cash equivalents $ 314.9 $ — $ — 314.9 Short-term investments Corporate notes and obligations 374.3 2.5 (0.1) 376.7 U.S. Treasury securities 215.4 1.0 — 216.4 Asset backed securities 73.5 0.6 — 74.1 Municipal securities 38.7 0.1 — 38.8 U.S. agency obligations 23.0 0.1 — 23.1 Commercial paper 22.5 — — 22.5 Supranational Securities 18.7 — — 18.7 Foreign government obligations 18.5 — — 18.5 Certificates of deposit 17.6 — — 17.6 Total short-term investments 802.2 4.3 (0.1) 806.4 Total $ 1,117.1 $ 4.3 $ (0.1) $ 1,121.3 Included in cash and cash equivalents is cash in transit from payment processors for credit and debit card transactions of $10.7 million and $9.8 million as of June 30, 2021 and December 31, 2020, respectively. All short-term investments were designated as available-for-sale securities as of June 30, 2021 and December 31, 2020. The following table presents the contractual maturities of the Company’s short-term investments as of June 30, 2021: As of June 30, 2021 Amortized cost Estimated fair value Due within one year $ 295.4 $ 296.1 Due between one to three years 500.9 501.3 Due after three years 262.8 261.5 Total $ 1,059.1 $ 1,058.9 The Company had 232 short-term investments in unrealized loss positions as of June 30, 2021. There were no material unrealized losses from short-term investments and no material realized gains or losses from short-term investments that were reclassified out of accumulated other comprehensive income for the three and six months ended June 30, 2021. As of June 30, 2021, the Company’s short-term investments portfolio consisted of nine security types, six of which were in an unrealized loss position. The Company’s short-term investments had unrealized losses of approximately $2.1 million as of June 30, 2021. Unrealized losses on short-term investments have not been recorded into income because management does not intend to sell nor will be required to sell these securities prior to their anticipated recovery, and for which the decline in fair

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company measures its financial instruments at fair value each reporting period using a fair value hierarchy that prioritizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis using the input categories discussed in Note 1: As of June 30, 2021 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 790.1 $ — $ — $ 790.1 Commercial paper — 21.1 — 21.1 Certificates of deposit — 3.6 — 3.6 Total cash equivalents $790.1 $24.7 $ — $814.8 Short-term investments Corporate notes and obligations — 468.0 — 468.0 U.S. Treasury securities — 228.5 — 228.5 Asset backed securities — 119.1 — 119.1 Commercial paper — 77.5 — 77.5 Municipal securities — 62.8 — 62.8 Certificates of deposit — 53.1 — 53.1 Foreign government obligations — 18.4 — 18.4 Supranational Securities — 17.0 — 17.0 U.S. agency obligations — 14.5 — 14.5 Total short-term investments — 1,058.9 — 1,058.9 Total $ 790.1 $ 1,083.6 $ — $ 1,873.7 The Company has an investment in a non-marketable equity security in a privately held company without a readily determinable market value. The investments had a carrying value of $5.6 million and was categorized as Level 3 as of June 30, 2021 and December 31, 2020. As of December 31, 2020 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 222.6 $ — $ — $ 222.6 U.S. Treasury securities — 10.6 — 10.6 Commercial paper — 8.0 — 8.0 Corporate notes and obligations — 5.0 — 5.0 Municipal securities — 1.5 — 1.5 Total Cash Equivalents $ 222.6 $ 25.1 $ — $ 247.7 Short-term investments Corporate notes and obligations — 376.7 — 376.7 U.S. Treasury securities — 216.4 — 216.4 Asset-backed securities — 74.1 — 74.1 Municipal securities — 38.8 — 38.8 U.S. agency obligations — 23.1 — 23.1 Commercial paper — 22.5 — 22.5 Supranational securities — 18.7 — 18.7 Foreign government obligations — 18.5 — 18.5 Certificates of deposit — 17.6 — 17.6 Total short-term investments — 806.4 — 806.4 Total $ 222.6 $ 831.5 $ — $ 1,054.1 The Company had no transfers between levels of the fair value hierarchy. The carrying amounts of certain financial instruments, including cash held in banks, accounts receivable and accounts payable approximate fair value due to their short-term maturities and are excluded from the fair value table above. The Company has $695.8 million in aggregate principal amount of 0% convertible senior notes due in 2026 (the "2026 Notes"), and $693.3 million in aggregate principal amount of 0% convertible senior notes due in 2028 (the "2028 Notes" and together with the 2026 Notes, the "Notes"), outstanding as of June 30, 2021. Refer to Note 8 "Debt" for further details on the 2026 Notes and 2028 Notes. The estimated fair value of the 2026 Notes and the 2028 Notes, based on a market approach as of June 30, 2021 was approximately $745.8 million and $763.4 million, respectively. The Notes were categorized as Level 2 instruments as the estimated fair value was determined based on the estimated or actual bids and offers of the Notes in an over-the-counter market on the last business day of the period.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net consisted of the following: As of June 30, 2021 December 31, 2020 Data center and other computer equipment $ 656.4 $ 652.7 Furniture and fixtures 18.6 19.9 Leasehold improvements 96.8 96.9 Construction in progress 21.9 21.0 Total property and equipment 793.7 790.5 Accumulated depreciation and amortization (450.8) (451.8) Property and equipment, net $ 342.9 $ 338.7 The Company leases certain infrastructure, computer equipment, and furniture from various third parties, through equipment finance leases. Infrastructure assets as of June 30, 2021 and December 31, 2020, respectively, included a total of $452.9 million and $395.2 million acquired under finance lease agreements. These leases are capitalized in property and equipment, and the related amortization of assets under finance leases is included in depreciation and amortization expense. The accumulated depreciation of the equipment under finance leases totaled $202.9 million and $156.6 million as of June 30, 2021 and December 31, 2020, respectively. Construction in progress includes costs primarily related to construction of leasehold improvements for office spaces and data centers. Depreciation expense related to property and equipment was $32.7 million and $64.2

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations 2021 Business Combination On March 22, 2021, the Company acquired all outstanding stock of DocSend, a secure document sharing and analytics company. The combination of Dropbox, HelloSign, and DocSend will help customers across industries manage end-to-end document workflows—from content collaboration to sharing and e-signature—giving them more control over their business results. The results of DocSend's operations have been included in the Company’s consolidated results of operations since the date of acquisition and were immaterial for the periods presented. The purchase consideration transferred consisted of the following: Purchase consideration Cash paid to common and preferred stockholders and vested option holders $ 125.5 Transaction costs paid by Dropbox on behalf of DocSend 5.0 Fair value of assumed DocSend options attributable to pre-combination services (1) 1.2 Total purchase consideration $ 131.7 (1) The fair value of options assumed was determined based upon the Black-Scholes option-pricing model. In addition to the total purchase consideration above, the Company has compensation agreements with key DocSend personnel consisting of $30.7 million in future cash payments subject to ongoing employee service. The related expense will be recognized within sales and marketing and research and development expenses over the required service period of three years. The related payments will be paid out evenly on an annual basis in the first and second year, and in quarterly installments in the third year. Payments will begin in the first quarter of 2022 if the requisite service is provided. The purchase consideration was allocated to the tangible and intangible assets and liabilities acquired as of the acquisition date, with the excess recorded to goodwill as shown below. The fair value of assets and liabilities acquired may change as additional information is received during the measurement period. The measurement period will end no later than one-year from the acquisition date. Assets acquired: Cash and cash equivalents $ 5.1 Acquisition-related intangible assets 20.6 Accounts receivable, prepaid and other assets 6.1 Total assets acquired $ 31.8 Liabilities assumed: Accounts payable, accrued and other liabilities $ 6.4 Deferred revenue 1.9 Deferred tax liability 1.9 Total liabilities assumed 10.2 Net assets acquired, excluding goodwill 21.6 Total purchase consideration 131.7 Goodwill (2) $ 110.1 (2) The goodwill recognized was primarily attributable to the opportunity to expand the user base of the Company's platform. The goodwill is not deductible for U.S. federal income tax purposes. The fair value of the separately identifiable finite-lived intangible assets acquired and estimated weighted average useful lives are as follows: Estimated fair values Estimated weighted average useful lives Developed technology $ 11.5 5.0 Customer relationships 8.1 5.0 Trade name 1.0 5.0 Total acquisition-related intangible assets $ 20.6 The fair values of the acquisition-related intangible assets were determined using the following methodologies: the multi-period excess earnings method for customer relationships, and the relief from royalty method for developed technology, and the trade name, respectively. The valuation model inputs required the application of significant judgment by management. The acquired intangible assets have a total weighted average amortization period of 5.0 years. One-time acquisition-related diligence costs of $1.2 million were expensed within general and administrative expenses as incurred during the three months ended March 31, 2021. 2019 Business Combination On February 8, 2019, the Company acquired all outstanding stock of JN Projects, Inc. (d/b/a HelloSign) ("HelloSign"), which provides an e-signature and document workflow platform. The acquisition of HelloSign expands the Company's content collaboration capabilities to include additional business-critical workflows. The results of HelloSign operations have been included in the Company’s consolidated results of operations since the date of acquisition. The purchase consideration transferred consisted of the following: Purchase consideration Cash paid to common and preferred stockholders and vested option holders $ 175.2 Transaction costs paid by Dropbox on behalf of HelloSign 2.4 Fair value of assumed HelloSign options attributable to pre-combination services (1) 0.8 Purchase price adjustments (0.5) Total purchase consideration $ 177.9 (1) The fair value of options assumed were based upon the Black-Scholes option-pricing model. In addition to the total purchase consideration above, the Company has employee holdback agreements with key HelloSign personnel consisting of $48.5 million in cash payments subject to ongoing employee service. The related expenses are recognized within research and development expenses over the required service period of three years. The payments began in the first quarter of 2020, with $4.0 million and $8.0 million paid during the three and six months ended June 30, 2021 . The remaining balanc e of $12.1 million will be paid evenly in quarterly installments over the remaining required service period. The purchase consideration was allocated to the tangible and intangible assets and liabilities acquired as of the acquisition date, with the excess recorded to goodwill as shown below. Assets acquired: Cash and cash equivalents $ 5.5 Short-term investments 7.8 Acquisition-related intangible assets 44.6 Accounts receivable, prepaid and other assets 5.0 Total assets acquired $ 62.9 Liabilities assumed: Accounts payable, accrued and other liabilities $ 6.3 Deferred revenue 4.8 Deferred tax liability 6.9 Total liabilities assumed 18.0 Net assets acquired, excluding goodwill 44.9 Total purchase consideration 177.9 Goodwill (2) $ 133.0 (2) The goodwill recognized was primarily attributable to the opportunity to expand the user base of the Company's platform. The goodwill is not deductible for U.S. federal income tax purposes. The fair value of the separately identifiable finite-lived intangible assets acquired and estimated weighted average useful lives are as follows: Estimated fair values Estimated weighted average useful lives Customer relationships $ 20.5 4.9 Developed technology 19.6 5.0 Trade name 4.5 5.0 Total acquisition-related intangible assets $ 44.6

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets consisted of the following: As of June 30, As of December 31, Weighted- (In years) As of June 30, 2021 2020 2021 Developed technology $ 37.5 $ 26.0 3.7 Customer relationships 28.6 20.5 3.8 Patents 14.8 12.8 6.2 Software 9.0 9.0 0.8 Trademarks and trade names 5.6 4.6 3.1 Licenses 4.6 4.6 — Assembled workforce in asset acquisitions 3.0 3.0 — Other 0.8 0.8 4.2 Total intangibles 103.9 81.3 Accumulated amortization (55.0) (47.8) Intangible assets, net $ 48.9 $ 33.5 Amortization expense was $4.1 million and $7.2 million for the three and six months ended June 30, 2021, respectively, and $3.5 million and $7.0 million for the three and six months ended June 30, 2020, respectively. Expected future amortization expense for intangible assets as of June 30, 2021 is as follows: Remaining six months of Fiscal 2021 $ 7.9 2022 12.8 2023 12.2 2024 7.9 2025 6.0 Thereafter 2.1 Total $ 48.9

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. The changes in the carrying amounts of goodwill were as follows: Balance at December 31, 2020 $ 236.9 DocSend acquisition 110.1 Effect of foreign currency translation (0.2) Balance at June 30, 2021 $ 346.8

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Revolving credit facility In April 2017, the Company entered into an amended and restated credit and guaranty agreement which provided for a $600.0 million revolving loan facility (as amended from time to time, the “revolving credit facility”). In conjunction with the revolving credit facility, the Company paid upfront issuance fees of $2.6 million, which are being amortized over the five-year term of the agreement. In February 2018, the Company amended the revolving credit facility to, among other things, permit the Company to make certain investments, enter into an unsecured standby letter of credit facility and increase its standby letter of credit sublimit to $187.5 million. The Company increased its borrowing capacity under the revolving credit facility from $600.0 million to $725.0 million. In February 2021, the Company amended the revolving credit facility to decrease its borrowing capacity under the revolving credit facility from $725.0 million to $500.0 million. The Company may from time to time request increases in its borrowing capacity under the revolving credit facility of up to $250.0 million, provided no event of default has occurred or is continuing or would result from such increase. In conjunction with the February 2021 amendment, the Company paid upfront issuance fees of $1.7 million, which are being amortized over the remaining term of the agreement, and wrote-off $0.2 million in unamortized deferred debt issuance costs. Pursuant to the terms of the revolving credit facility, the Company may issue letters of credit under the revolving credit facility, which reduce the total amount available for borrowing. Pursuant to the terms of the revolving credit facility, the Company is required to pay an annual commitment fee that accrues at a rate of 0.20% per annum on the unused portion of the borrowing commitments under the revolving credit facility. In addition, the Company is required to pay a fee in connection with letters of credit issued under the revolving credit facility, which accrues at a rate of 1.375% per annum on the amount of such letters of credit outstanding. There is an additional fronting fee of 0.125% per annum multiplied by the average aggregate daily maximum amount available under all letters of credit. Borrowings under the revolving credit facility bear interest, at the Company’s option, at an annual rate based on LIBOR plus a spread of 1.375% or at an alternative base rate plus a spread of 0.375%. The revolving credit facility contains customary conditions to borrowing, events of default and covenants, including covenants that restrict the Company’s ability to incur indebtedness, grant liens, make distributions to holders of the Company or its subsidiaries’ equity interests, make investments, or engage in transactions with its affiliates. In addition, the revolving credit facility contains financial covenants, including a consolidated leverage ratio incurrence covenant and a minimum liquidity balance of $100.0 million, which includes any available borrowing capacity. The Company was in compliance with the covenants of the revolving credit facility as of June 30, 2021 and December 31, 2020, respectively. The Company had an aggregate of $52.4 million of letters of credit outstanding under the revolving credit facility as of June 30, 2021, and the Company’s total available borrowing capacity under the revolving credit facility was $447.6 million as of June 30, 2021. The Company’s letters of credit have final expiration dates through 2036. Convertible senior notes During the first quarter of 2021, the Company issued $695.8 million aggregate principal amount of the 2026 Notes. Additionally, during the first quarter of 2021, the Company issued $693.3 million aggregate principal amount of the 2028 Notes. The Notes were issued in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The net proceeds from the sale of the Notes were approximately $1.4 billion after deducting offering and issuance costs related to the Notes. The Notes of each series do not bear regular interest. The Notes of each series may bear special interest as the remedy relating to the Company’s failure to comply with certain of its reporting obligations. The Company has complied with this reporting obligations from the issuance date through June 30, 2021. The 2026 Notes will mature on March 1, 2026, and the 2028 Notes will mature on March 1, 2028, in each case, unless earlier converted, redeemed or repurchased. The initial conversion rate for the 2026 Notes is 26.1458 shares of the Company’s Class A common stock per $1,000 principal amount of such Note, which is equivalent to an initial conversion price of approximately $38.25 per share. The initial conversion rate for the 2028 Notes is 28.2889 shares of Class A common stock per $1,000 principal amount of such Notes, which is equivalent to an initial conversion price of approximately $35.35 per share. The conversion rate for each series of Notes will be subject to adjustment upon the occurrence of certain specified events but will not be adjusted for accrued and unpaid special interest. In addition, upon the occurrence of a make-whole fundamental change (as defined in the relevant indentures governing the Notes) or a notice of redemption, the Company will, in certain circumstances, increase the conversion rate of the relevant series of Notes by a number of additional shares for a holder that elects to convert all or a portion of its Notes of such series in connection with such make-whole fundamental change or who elects to convert such Notes that are subject to such notice of redemption. The conversion rate for the 2026 Notes and the 2028 Notes shall not exceed 43.1406 shares per $1,000 principal amount of such Notes, subject to certain customary anti-dilution adjustments (as defined in the relevant indentures governing the Notes). There have been no changes to the initial conversion price of the Notes since issuance as of June 30, 2021. Upon conversion, the principal portion of the Notes of the applicable series being converted will be settled in cash, and any amount in excess of the principal portion of such Notes will be settled in cash or shares of the Company’s Class A common stock or any combination thereof at the Company’s option. The if-converted value of the 2026 Notes and the 2028 Notes was below the principal value of the respective Notes as of June 30, 2021. In addition, during the three and six months ended June 30, 2021, the conditions allowing holders of the Notes to convert were not met. As a result, the Notes are not convertible during the three and six months ended June 30, 2021. Prior to the close of business on the business day immediately preceding December 1, 2025, in the case of the 2026 Notes, and prior to the close of business on the business day immediately preceding December 1, 2027, in the case of the 2028 Notes, the Notes of the applicable series will be convertible only under the following circumstances: (1) during any calendar quarter commencing after June 30, 2021 (and only during such calendar quarter), if the last reported sale price of the Class A common stock for at least 20 trading days (whether or not consecutive) during the 30 consecutive trading day period ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price for the relevant series of Notes on each applicable trading day; (2) during the five business day period after any five consecutive trading day period in which, for each trading day of that period, the trading price per $1,000 principal amount of 2026 Notes or 2028 Notes, as applicable, for such trading day was less than 98% of the product of the last reported sale price of the Class A common stock and the conversion rate for such series of Notes on each such trading day; (3) if the Company calls any or all of the Notes for redemption, such Notes of the applicable series called for redemption may be converted at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate transactions. On or after December 1, 2025, in the case of the 2026 Notes, and on or after December 1, 2027, in the case of the 2028 Notes, until the close of business on the second scheduled trading day immediately preceding the relevant maturity date, holders of the relevant series of Notes may convert all or a portion of their Notes of such series regardless of the foregoing conditions. The Company may redeem for cash all or any part of the Notes, at its option, on or after March 6, 2024, in the case of the 2026 Notes, and on or after March 6, 2025, in the case of the 2028 Notes, if the last reported sale price of its Class A common stock has been at least 130% of the conversion price for the relevant series of Notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the series of Notes to be redeemed, plus any accrued and unpaid special interest to, but excluding, the redemption date. No sinking fund is provided for the Notes. Upon the occurrence of a fundamental change (as defined in the relevant indentures governing the Notes) prior to the relevant maturity date, holders of the relevant series of Notes may require the Company to repurchase all or a portion of the Notes of such series for cash at a price equal to 100% of the principal amount of the series of Notes to be repurchased, plus any accrued and unpaid special interest to, but excluding, the fundamental change repurchase date. Additionally, and upon events of default (as defined in the relevant indentures governing the Notes), the maturity of the Notes may be accelerated. The Notes are the Company’s general unsecured obligations and will rank senior in right of payment to any existing and future indebtedness that is contractually subordinated to the Notes; rank equal in right of payment with the Company’s existing and future senior unsecured indebtedness that is not so subordinated; effectively rank junior in right of payment to any of the Company’s existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness; and be structurally subordinated to all indebtedness and other liabilities (including trade payables) of subsidiaries of the Company. In accounting for the Notes, issuance costs of $11.0 million and $11.0 million for the 2026 Notes and the 2028 Notes were deducted from the carrying value of the Notes in the consolidated balance sheet. Issuance costs will be recognized as interest expense over the five-year term and seven-year term for the 2026 Notes and the 2028 Notes, respectively. The following is a summary of the Company’s convertible senior notes as of June 30, 2021. 2026 Notes 2028 Notes Total Principal balance $ 695.8 $ 693.3 $ 1,389.1 Unamortized issuance costs (10.3) (10.4) (20.7) Carrying value, net 685.5 682.9 1,368.4 During the three months ended June 30, 2021, the Company recognized $0.6 million and $0.3 million in interest expense for the 2026 Notes and the 2028 Notes, respectively, with such interest expense solely consisting of amortization of issuance costs. During the six months ended June 30, 2021, the Company recognized $0.8 million and $0.5 million in interest expense for the 2026 Notes and the 2028 Notes, respectively, with such interest expense solely consisting of amortization of issuance costs. The effective interest rate for the 2026 Notes and the 2028 Notes was 0.32% and 0.22%, respectively, as of June 30, 2021. Maturities on the Company's long-term convertible debt are as follows: Convertible Debt July 1, 2021 through December 31, 2021 $ — 2022 — 2023 — 2024 — 2025 — 2026 695.8 Thereafter 693.3 Total $ 1,389.1 Convertible Note Hedges and Warrants Concurrent with the offering of the Notes, the Company entered into convertible note hedge transactions with certain counterparties whereby the Company had the option to purchase a total of approximately 18.2 million shares for note hedges expiring in March 2026 (the “2026 Note Hedges”) and 19.6 million shares for note hedges expiring in March 2028 (the “2028 Note Hedges”, together with the 2026 Note Hedges, the “Note Hedges”), respectively, of its common stock at a price of approximately $38.25 and $35.35 per share, respectively. The aggregate cost of the convertible note hedge transactions was $265.3 million. The Note Hedges, or a portion thereof, are exercisable upon conversion of the Notes and the satisfaction of certain conditions set forth in the Note Hedges. Additionally, the Note Hedges may be terminated and early settled upon the occurrence of certain events, including certain merger events, events of default, and upon a fundamental change (as defined in the relevant indentures for the Notes). The Note Hedges are settleable in cash, shares or a combination of cash and shares, at the option of the Company, and the settlement alternative will be the same as the settlement alternative of the conversion spread for the respective Notes. The convertible note hedge transactions are expected generally to reduce the potential dilution to the Class A common stock upon conversion of the relevant series of Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of such converted Notes, as the case may be, in the event that the market price per share of the Class A common stock, as measured under the terms of the convertible note hedge transactions, is greater than the applicable strike price of those convertible note hedge transactions. As of June 30, 2021, the Company’s stock price was below the exercise price of the respective Note Hedges. In addition, the Company sold warrants to certain counterparties whereby the holders of the warrants had the option to purchase a total of approximately 18.1 million shares underlying warrants expiring in 2026 (the “2026 Warrants”) and 20.1 million shares underlying warrants expiring in 2028 (the “2028 Warrants, together with the 2026 Warrants, the “Warrants”), respectively, of the Company’s Class A common stock at an initial strike price of $46.36 and $46.36 per share, respectively. The Company received aggregate cash proceeds of $202.9 million from the sale of these Warrants. If the market price per share of the Company’s Class A common stock, as measured under the terms of the Warrants, exceeds the strike price of the Warrants, the Warrants could have a dilutive effect, unless the Company elects, subject to certain conditions, to settle the Warrants in cash. The Warrants are only exercisable on the applicable expiration dates in accordance with the terms of the Warrants. Subject to the other terms of the Warrants, the first expiration date applicable to the 2026 Warrants and to the 2028 Warrants is June 1, 2026, and June 1, 2028, respectively, and the final expiration date applicable to the 2026 Warrants and 2028 Warrants is August 10, 2026 and August 10, 2028, respectively. As of June 30, 2021, the Company’s Class common stock price was below the exercise price of the Warrants. Taken together, the purchase of the Note Hedges and the sale of the Warrants are intended to reduce potential dilution from the conversion of the 2026 Notes and the 2028 Notes, and to effectively increase the overall conversion price from $38.25 per share to $46.36 per share and from $35.35 per share to $46.36 for the 2026 Notes and the 2028 Notes, respectively.

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	Leases The Company has operating leases for corporate offices and data centers, and finance leases for infrastructure and office equipment. The Company’s leases have remaining lease terms of 1 year to 15 years, some of which include options to extend the leases for up to 5 years. The Company also has subleases for several floors of its former corporate offices. The Company classifies its subleases as operating leases. The subleases have remaining lease terms of 1 year to 12 years. Sublease income, which is recorded as a reduction of rental expense, was $4.0 million and $7.9 million during the three and six months ended June 30, 2021, respectively, and $1.7 million and $3.5 million during the three and six months ended June 30, 2020, respectively. Future minimum lease payments under non-cancellable leases as of June 30, 2021 were as follows: Year ending December 31, Operating leases (1) Finance leases 2021 (excluding the six months ended June 30, 2021) $ 60.8 $ 65.0 2022 118.5 110.4 2023 102.7 77.3 2024 92.0 42.2 2025 86.9 5.0 Thereafter 566.2 — Total future minimum lease payments 1,027.1 299.9 Less imputed interest (208.8) (12.0) Less tenant improvement receivables (8.0) — Total liability $ 810.3 $ 287.9 (1) Consists of future non-cancelable minimum rental payments under operating leases for the Company’s corporate offices and data centers where the Company has possession, excluding rent payments from the Company’s sub-tenants and variable operating expenses. Future non-cancelable rent payments from the Company's subtenants as of June 30, 2021 were as follows: Year ending December 31, Operating leases 2021 (excluding the six months ended June 30, 2021) $ 8.5 2022 20.9 2023 12.3 2024 11.5 2025 11.0 Thereafter 67.5 Total future sublease rent payments 131.7 Less sub-tenant incentive (10.5) Total future sublease rent payments, net $ 121.2 In 2017, the Company entered into a lease agreement for office space in San Francisco, California, to serve as its corporate headquarters. The Company took possession of three phases of the space between June 2018 and December 2019, and began to recognize lease costs and lease obligations, net of tenant improvement reimbursements related to the space. The Company's total expected minimum obligations for all three phases of the lease are $842.9 million, which exclude expected tenant improvement reimbursements from the landlord of approximately $75.0 million and variable operating expenses. The Company’s obligations under the lease are supported by a $34.2 million letter of credit, which reduced the borrowing capacity under the revolving credit facility. During the second quarter, the Company did not collect any tenant improvement reimbursements. The Company does not expect to collect further tenant improvement reimbursements through the remainder of the lease. In the fourth quarter of 2020, the Company announced a new Virtual First work model pursuant to which remote work will become the primary experience for all of its employees. As part of the Virtual First strategy, Dropbox will retain a portion of its office space to be used for the Company’s team collaboration use and a portion will be marketed for sublease. The Company evaluated certain of its right-of-use assets and other lease related assets including leasehold improvements, furniture and fixtures, and computer equipment for impairment under ASC 360. The Company did not record impairment during the three months ended June 30, 2021 and recorded total impairment of $17.3 million for right-of-use and other lease related assets during the six months ended June 30, 2021. The Company did not record impairment during the three and six months ended June 30, 2020. As of June 30, 2021, the Company had commitments of $108.6 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use asset or operating lease liability. These operating leases will commence in 2021 and 2022 with lease terms of up to 15 years. The Company has a sublease commitment of $16.9 million that has not yet commenced, with a sublease term of 10 years.
Leases	Leases The Company has operating leases for corporate offices and data centers, and finance leases for infrastructure and office equipment. The Company’s leases have remaining lease terms of 1 year to 15 years, some of which include options to extend the leases for up to 5 years. The Company also has subleases for several floors of its former corporate offices. The Company classifies its subleases as operating leases. The subleases have remaining lease terms of 1 year to 12 years. Sublease income, which is recorded as a reduction of rental expense, was $4.0 million and $7.9 million during the three and six months ended June 30, 2021, respectively, and $1.7 million and $3.5 million during the three and six months ended June 30, 2020, respectively. Future minimum lease payments under non-cancellable leases as of June 30, 2021 were as follows: Year ending December 31, Operating leases (1) Finance leases 2021 (excluding the six months ended June 30, 2021) $ 60.8 $ 65.0 2022 118.5 110.4 2023 102.7 77.3 2024 92.0 42.2 2025 86.9 5.0 Thereafter 566.2 — Total future minimum lease payments 1,027.1 299.9 Less imputed interest (208.8) (12.0) Less tenant improvement receivables (8.0) — Total liability $ 810.3 $ 287.9 (1) Consists of future non-cancelable minimum rental payments under operating leases for the Company’s corporate offices and data centers where the Company has possession, excluding rent payments from the Company’s sub-tenants and variable operating expenses. Future non-cancelable rent payments from the Company's subtenants as of June 30, 2021 were as follows: Year ending December 31, Operating leases 2021 (excluding the six months ended June 30, 2021) $ 8.5 2022 20.9 2023 12.3 2024 11.5 2025 11.0 Thereafter 67.5 Total future sublease rent payments 131.7 Less sub-tenant incentive (10.5) Total future sublease rent payments, net $ 121.2 In 2017, the Company entered into a lease agreement for office space in San Francisco, California, to serve as its corporate headquarters. The Company took possession of three phases of the space between June 2018 and December 2019, and began to recognize lease costs and lease obligations, net of tenant improvement reimbursements related to the space. The Company's total expected minimum obligations for all three phases of the lease are $842.9 million, which exclude expected tenant improvement reimbursements from the landlord of approximately $75.0 million and variable operating expenses. The Company’s obligations under the lease are supported by a $34.2 million letter of credit, which reduced the borrowing capacity under the revolving credit facility. During the second quarter, the Company did not collect any tenant improvement reimbursements. The Company does not expect to collect further tenant improvement reimbursements through the remainder of the lease. In the fourth quarter of 2020, the Company announced a new Virtual First work model pursuant to which remote work will become the primary experience for all of its employees. As part of the Virtual First strategy, Dropbox will retain a portion of its office space to be used for the Company’s team collaboration use and a portion will be marketed for sublease. The Company evaluated certain of its right-of-use assets and other lease related assets including leasehold improvements, furniture and fixtures, and computer equipment for impairment under ASC 360. The Company did not record impairment during the three months ended June 30, 2021 and recorded total impairment of $17.3 million for right-of-use and other lease related assets during the six months ended June 30, 2021. The Company did not record impairment during the three and six months ended June 30, 2020. As of June 30, 2021, the Company had commitments of $108.6 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use asset or operating lease liability. These operating leases will commence in 2021 and 2022 with lease terms of up to 15 years. The Company has a sublease commitment of $16.9 million that has not yet commenced, with a sublease term of 10 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal matters From time to time, the Company is a party to a variety of claims, lawsuits, and proceedings which arise in the ordinary course of business, including claims of alleged infringement of intellectual property rights. The Company records a liability when it believes that it is probable that a loss will be incurred and the amount of loss or range of loss can be reasonably estimated. In its opinion, resolution of pending matters is not likely to have a material adverse impact on its condensed consolidated results of operations, cash flows, or its financial position. Given the unpredictable nature of legal proceedings, the Company bases its estimate on the information available at the time of the assessment. As additional information becomes available, the Company reassesses the potential liability and may revise the estimate. The Company is currently involved in four putative class action lawsuits alleging violations of the federal securities laws that were filed on August 30, 2019, September 5, 2019, September 13, 2019, and October 3, 2019, in the Superior Court of the State of California, San Mateo County, against the Company, certain of its officers and directors, underwriters of its IPO, and Sequoia Capital XII, L.P. and certain of its affiliated entities (collectively, the “Dropbox Defendants”). On October 4, 2019, two putative class action lawsuits alleging violations of the federal securities laws were filed against the Dropbox Defendants in the U.S. District Court for the Northern District of California (the "Federal Plaintiffs"). The six lawsuits each make the same or similar allegations of violations of federal securities laws, for allegedly making materially false and misleading statements in, or omitting material information from, the Company's IPO registration statement. The plaintiffs seek unspecified monetary damages and other relief. On March 2, 2020, the Federal Plaintiffs filed a consolidated class action complaint. On April 16, 2020, the Dropbox Defendants filed a motion to dismiss the federal consolidated class action complaint. On October 21, 2020, the court issued an order granting the Company's motion to dismiss the Federal Plaintiffs’ complaint, setting a deadline of January 6, 2021 for the Federal Plaintiffs to file any amended complaint. The federal court extended this deadline to February 22, 2021 to provide time for the parties to explore resolving the case. On February 11, 2021, the parties attended mediation and reached a settlement in principle for an immaterial amount subject to final documentation and preliminary and final approval by the court. On July 22, 2021, the Court held a preliminary settlement approval hearing. On August 3, 2021, the Court entered an order preliminarily approving the settlement and providing for notice to the class. The Court set a hearing for final approval of the settlement on December 2, 2021. On May 11, 2020, the Dropbox Defendants filed a motion to dismiss the consolidated state court case based on the exclusive federal forum provisions contained in the Company's amended and restated bylaws. On December 4, 2020, the state court issued an order granting the Company's motion to dismiss the consolidated state court case. On December 15, 2020, the State Plaintiffs filed a notice of appeal of this order. The Company believes the appeal and claims are without merit and intends to vigorously defend against them. Indemnification The Company’s arrangements generally include certain provisions for indemnifying customers against liabilities if its products or services infringe a third party’s intellectual property rights. It is not possible to determine the maximum potential amount under these indemnification obligations due to the limited history of prior indemnification claims. Other commitments

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Accrued and Other Current Liabilities	Accrued and Other Current Liabilities Accrued and other current liabilities consisted of the following: As of June 30, 2021 December 31, 2020 Non-income taxes payable $ 81.6 $ 85.9 Accrued legal and other external fees 28.2 23.4 Other accrued and current liabilities 48.9 47.4 Total accrued and other current liabilities $ 158.7 $ 156.7

Stockholders' (Deficit) Equity

Stockholders' (Deficit) Equity	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Stockholders' (Deficit) Equity	Stockholders’ (Deficit) Equity Common stock The Company’s amended and restated certificate of incorporation authorizes the issuance of Class A common stock, Class B common stock, and Class C common stock. Holders of Class A common stock, Class B common stock, and Class C common stock are entitled to dividends on a pro rata basis, when, as, and if declared by the Company’s Board of Directors, subject to the rights of the holders of the Company’s preferred stock. Holders of Class A common stock are entitled to one vote per share, holders of Class B common stock are entitled to 10 votes per share, and holders of Class C common stock are entitled to zero votes per share. Holders of Class B common stock voluntarily converted 0.3 million shares into an equivalent number of shares of Class A common stock during the six months ended June 30, 2021, and 53.5 million and 63.4 million during the three and six months ended June 30, 2020. As of June 30, 2021, the Company had authorized 2,400.0 million shares of Class A common stock, 475.0 million shares of Class B common stock, and 800.0 million shares of Class C common stock, each at par value of $0.00001. As of June 30, 2021, 303.4 million shares of Class A common stock, 83.2 million shares of Class B common stock, and no shares of Class C common stock were issued and outstanding. As of December 31, 2020, 322.3 million shares of Class A common stock, 83.5 million shares of Class B common stock, and no shares of Class C common stock were issued and outstanding. Class A shares issued and outstanding as of June 30, 2021 and December 31, 2020 excludes unvested restricted stock awards granted to certain executives. Class A shares issued and outstanding also excludes 10.3 million unvested restricted stock awards granted to one of the Company's co-founders as of June 30, 2021 and December 31, 2020, resp ectively. See "Co-Founder Grants" section below for further details. Preferred stock The Company's Board of Directors will have the authority, without further action by the Company's stockholders, to issue up to 240.0 million shares of undesignated preferred stock with rights and preferences, including voting rights, designated from time to time by the Board of Directors. Stock repurchase program In February 2020, the Company's Board of Directors approved a stock repurchase program for the repurchase of up to $600 million of the Company’s outstanding shares of Class A common stock. In February 2021, the Board of Directors authorized the Company to repurchase up to an additional $1 billion of the Company's outstanding shares of Class A common stock. The Company completed the February 2020 stock repurchase program of up to $600 million during the six months ended June 30, 2021 . Share repurchases will be made from time to time in private transactions or open market purchases, as permitted by securities laws and other legal requirements and will be subject to a review of the circumstances in place at that time, including prevailing market prices. The program does not obligate the Company to repurchase any specific number of shares and may be discontinued at any time. During the three and six months ended June 30, 2021, the Company repurchased and subsequently retired 5.5 million and 24.1 million shares of its Class A common stock for an aggregate amount of $150.8 million and $582.7 million, respectively. This includes $200.0 million in repurchases of 8.6 million shares of our Class A common stock in conjunction with the issuance of the Notes, which was outside of our stock repurchase program. During the three and six months ended June 30, 2020, the Company repurchased and subsequently retired 3.7 million and 7.4 million of its Class A common stock for an aggregate amount of $75.8 million and $139.8 million, respectively. Equity incentive plans Under the 2018 Plan, the Company may grant stock-based awards to purchase or directly issue shares of common stock to employees, directors, and consultants. Options are granted at a price per share equal to the fair market value of the Company's common stock at the date of grant. Options granted are exercisable over a maximum term of 10 years from the date of grant and generally vest over a period of four years. RSUs and RSAs are also granted under the 2018 Plan. The 2018 Plan will terminate 10 years after the later of (i) its adoption or (ii) the most recent stockholder-approved increase in the number of shares reserved under the 2018 Plan, unless terminated earlier by the Company's Board of Directors. The 2018 Plan was adopted on March 22, 2018. In connection with the acquisition of DocSend, the Company assumed unvested stock options and an immaterial number of unvested RSUs that had been granted under DocSend's 2013 Stock Plan and DocSend's 2015 Stock Option and Grant Plan. As of June 30, 2021, there were 31.7 million stock-based awards issued and outstanding and 96.2 million shares available for issuance under the Dropbox Equity Incentive Plans, HelloSign's 2011 Equity Incentive Plan, DocSend's 2013 Stock Plan and DocSend's 2015 Stock Option and Grant Plan (collectively, the "Plans"). Stock option and restricted stock activity for the Plans was as follows for the six months ended June 30, 2021: Options outstanding Restricted stock Number of Number of Weighted- Weighted- Aggregate intrinsic value Number of Plan shares outstanding Weighted- Balance at December 31, 2020 78.5 1.3 $ 13.73 5.7 $ 11.35 31.9 $ 19.79 Additional shares authorized 20.3 — — — — — — Stock options assumed (1) 0.4 0.4 $ 2.17 — — Options exercised and restricted stock units and awards released — (0.5) 10.03 — — (6.9) 20.43 Options and restricted stock units and awards canceled 7.2 (0.1) 14.91 — — (7.1) 20.44 Shares withheld related to net share settlement of restricted stock units and awards 2.5 — — — — — 20.36 Options and restricted stock units and awards granted (12.6) — — — — 12.6 25.63 Balance as of June 30, 2021 (2) 96.3 1.1 $ 11.39 6.1 $ 18.97 30.5 $ 21.90 Vested at June 30, 2021 0.6 $ 18.79 4.5 $ 6.00 — $ — Unvested at June 30, 2021 0.5 $ 3.54 $ 12.97 30.5 $ 21.90 (1) This amount includes an immaterial amount of unvested RSUs that were assumed as part of the acquisition of DocSend. The RSUs had a weighted-average grant date fair value of $26.86 per share and a total fair value of $0.4 million, all of which will be recognized as post-combination stock-based compensation expense. (2) This amount excludes restricted stock awards granted with service and market based vesting conditions. The following table summarizes information about the pre-tax intrinsic value of options exercised during the three and six months ended June 30, 2021 and 2020: Three Months Ended Six Months Ended 2021 2020 2021 2020 Intrinsic value of options exercised $ 4.0 $ 3.0 $ 8.7 $ 4.8 As of June 30, 2021, unamortized stock-based compensation related to unvested stock options, restricted stock awards (excluding the Co-Founder Grants), and RSUs was $665.7 millio n. The weighted-average period over which such compensation expense will be recognized if the requisite service is provided is approximately 2.8 years as of June 30, 2021. Assumed stock options In connection with the acquisition of DocSend the Company assumed 0.4 million unvested stock options which were valued using the Black-Scholes option-pricing model. The fair value of stock options assumed were estimated using the following assumptions: Expected volatility 47 % Expected term (in years) 2.0 - 6.8 Risk-free interest rate 0.15% - 1.29% Dividend yield — % Expected volatility. The expected volatility is based on the Company's historical volatility. Management believes this is the best estimate of the expected volatility over the expected life of its stock options. Expected term. The Company determines the expected term based on the average period the stock options are expected to remain outstanding, generally calculated as the midpoint of the stock options’ remaining vesting term and contractual expiration period, as the Company does not have sufficient historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior. Risk-free interest rate . The risk-free interest rate is based on the U.S. Treasury security in effect at the time the options were assumed for maturities corresponding with the expected term of the option. Expected dividend yield . The Company has not paid and does not expect to pay dividends. Consequently, the Company uses an expected dividend yield of zero. In connection with the acquisition of DocSend, the estimated weighted-average grant date fair value for stock options assumed was $25.28 per share and a total fair value of $9.3 million, of which, $8.1 million will be recognized as post-combination stock-based compensation expense. Co-Founder Grants In December 2017, the Board of Directors approved a grant to the Company’s co-founders of non-Plan RSAs with respect to 14.7 million shares of Class A common stock in the aggregate (collectively, the “Co-Founder Grants”), of which 10.3 million RSAs were granted to Mr. Houston, the Company’s co-founder and Chief Executive Officer, and 4.4 million RSAs were granted to Mr. Ferdowsi, the Company's co-founder and a former director. These Co-Founder Grants have service-based, market-based, and performance-based vesting conditions. The Co-Founder Grants are excluded from Class A common stock issued and outstanding until the satisfaction of these vesting conditions. The Co-Founder Grants also provide the holders with certain stockholder rights, such as the right to vote the shares with the other holders of Class A common stock and a right to cumulative declared dividends. However, the Co-Founder Grants are not considered a participating security for purposes of calculating net income per share attributable to common stockholders in Note 13 "Net Income Per Share", as the right to the cumulative declared dividends is forfeitable if the service condition is not met. The Co-Founder Grants are eligible to vest over the ten-year period following the date the Company’s shares of Class A common stock commenced trading on the Nasdaq Global Select Market in connection with the Company’s IPO. The Co-Founder Grants comprise nine tranches that are eligible to vest based on the achievement of stock price goals, each of which are referred to as a Stock Price Target, measured over a consecutive thirty-day trading period during the Performance Period. The Performance Period began on January 1, 2019. During the first four years of the Performance Period, no more than 20% of the shares subject to each Co-Founder Grant would be eligible to vest in any calendar year. After the first four years, all shares are eligible to vest based on the achievement of the Stock Price Targets. In March 2020, one of the Company's co-founders, Mr. Ferdowsi, resigned as a member of the Board of Directors and as an officer of the Company. As of the date of Mr. Ferdowsi’s resignation, none of the Stock Price Targets had been met, resulting in the forfeiture of his 4.4 million RSAs. As he did not provide the requisite service associated with the Co-Founder Grants, the Company reversed all stock-based compensation expense that had been recognized from the grant date through March 19, 2020, which totaled $23.8 million, of which $21.5 million related to expense recognized prior to December 31, 2019, and ceased recognizing further expense related to the award. The Company recognized stock-based compensation expense related to the Co-Founder Grant of $3.6 million and $7.2 million during the three and six months ended June 30, 2021, respectively and $6.1 million and $12.2 million during the three and six months ended June 30, 2020. As of June 30, 2021, unamortized s tock-based compensation expense related to the Co-Founder Grants was $28.5 million.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The Company computes net income per share using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock share equally in the Company’s net income and losses. Basic net income per share is computed by dividing net income attributable to common stockholders by the weighted-average number of shares of the Class A and Class B common stock outstanding. Diluted net income per share is computed by dividing net income attributable to common stockholders by the weighted-average number of diluted common shares outstanding. The computation of the diluted net income per share of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted net income per share of Class B common stock does not assume the conversion of those shares to Class A common stock. The dilutive effect of potentially dilutive common shares is reflected in diluted earnings per share by application of the if-converted method for the 2026 Notes and the 2028 Notes, and by application of the treasury stock method for the Company's other potentially dilutive securities. The numerators and denominators of the basic and diluted EPS computations for our common stock are calculated as follows (in millions, except for per share amounts): Three Months Ended Three Months Ended 2021 2020 Class A Class B Class A Class B Basic net income per share: Numerator Net income attributable to common stockholders $ 69.1 $ 18.8 $ 11.9 $ 5.6 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 305.3 83.2 281.5 132.7 Net income per common share, basic $ 0.23 $ 0.23 $ 0.04 $ 0.04 Diluted net income per share: Numerator Net income attributable to common stockholders $ 69.1 $ 18.8 $ 11.9 $ 5.6 Reallocation of net income as a result of conversion of Class B to Class A common stock 18.8 — 5.6 — Reallocation of net income to Class B common stock — (0.4) — (0.1) Net income attributable to common stockholders for diluted EPS $ 87.9 $ 18.4 $ 17.5 $ 5.5 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 305.3 83.2 281.5 132.7 Weighted-average effect of dilutive restricted stock units and awards and employee stock options 8.5 0.1 6.0 0.3 Conversion of Class B to Class A common stock 83.2 — 132.7 — Weighted-average number of common shares outstanding used in computing diluted net income per share 397.0 83.3 420.2 133.0 Net income per common share, diluted $ 0.22 $ 0.22 $ 0.04 $ 0.04 Six Months Ended Six Months Ended 2021 2020 Class A Class B Class A Class B Basic net income per share: Numerator Net income attributable to common stockholders $ 106.9 $ 28.7 $ 37.0 $ 19.8 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 310.0 83.3 270.7 145.0 Net income per common share, basic $ 0.34 $ 0.34 $ 0.14 $ 0.14 Diluted net income per share: Numerator Net income attributable to common stockholders $ 106.9 $ 28.7 $ 37.0 $ 19.8 Reallocation of net income as a result of conversion of Class B to Class A common stock 28.7 — 19.8 — Reallocation of net income to Class B common stock — (0.5) — (0.1) Net income attributable to common stockholders for diluted EPS $ 135.6 $ 28.2 $ 56.8 $ 19.7 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 310.0 83.3 270.7 145.0 Weighted-average effect of dilutive restricted stock units and awards and employee stock options 7.9 0.1 3.6 0.3 Conversion of Class B to Class A common stock 83.3 — 145.0 — Weighted-average number of common shares outstanding used in computing diluted net income per share 401.2 83.4 419.3 145.3 Net income per common share, diluted $ 0.34 $ 0.34 $ 0.14 $ 0.14 The weighted-average impact of potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive was as follows: Three Months Ended Six Months Ended 2021 2020 2021 2020 Restricted stock units and awards 0.2 9.4 4.9 11.1 Options to purchase shares of common stock 0.1 0.8 0.3 0.9 Co-Founder Grants 10.3 10.3 10.3 12.2 Convertible Senior Notes 37.8 — 26.0 — Warrants 37.8 — 26.0 — Total 86.2 20.5 67.5 24.2

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company computed the year-to-date income tax provision by applying the estimated annual effective tax rate to the year-to-date pre-tax income and adjusted for discrete tax items in the period. The Company's income tax was an expense o f $3.0 million and $1.8 million for the three and six months ended June 30, 2021, respectively, and an expense $4.4 million and $4.9 million for the three and six months ended June 30, 2020, respectively. Provision for income taxes decreased during the six months ended June 30, 2021 primarily due to tax benefits from the DocSend acquisition and a decrease in state taxes. The income tax expense for the three and six months ended June 30, 2021 was primarily attributable to foreign and state income taxes. For the periods presented, the difference between the U.S. statutory rate and the Company's effective tax rate is primarily due to the full valuation allowance on its U.S. and Irish deferred tax assets. The effective tax rate is also impacted by earnings realized in foreign jurisdictions with statutory tax rates lower than the federal statutory tax rate. The Company periodically evaluates the realizability of its net deferred tax assets based on all available evidence, both positive and negative. The realization of net deferred tax assets is dependent on the Company's ability to generate sufficient future taxable income during periods prior to the expiration of tax attributes to fully utilize these assets. As of June 30, 2021, the Company continues to maintain valuation allowances on all of its deferred tax assets in the U.S. and Ireland and on a portion of its deferred tax assets in one of its foreign jurisdictions. Given the Company’s recent history of foreign earnings, management believes that there is a reasonable possibility that, within the next twelve months, sufficient positive evidence may become available to allow management to reach a conclusion that a significant portion of the valuation allowance recorded against the deferred tax assets held by its Irish subsidiary will be reversed. The reversal would result in an income tax benefit for the quarterly and annual fiscal period in which the Company releases the valuation allowance. However, the exact timing and amount of the valuation allowance release are subject to change on the basis of the level of profitability that the Company actually achieves. The Company is subject to income tax audits in the U.S. and foreign jurisdictions. The Company records liabilities related to uncertain tax positions and believes that it has provided adequate reserves for income tax uncertainties in all open tax years. Unrecognized tax benefits increased by approximately $4.5 million and $8.6 million for the three and six months ended June 30, 2021, of which $1.5 million, if recognized, would affect the Company's effective tax rate. Additionally, unrecognized tax benefits decreased by approximately $0.8 million for the three and six months ended June 30, 2021 due to a statute of limitations lapse related to prior period tax positions. It is reasonably possible that there could be changes to the amount of uncertain tax positions due to activities of the taxing authorities, settlement of audit issues, reassessment of existing uncertain tax positions, or the expiration of applicable statutes of limitations; however, the Company is not able to estimate the impact of these items at this time.

Geographic Areas

Geographic Areas	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Geographic Areas	Geographic Areas Long-lived assets The following table sets forth long-lived assets by geographic area: As of June 30, 2021 December 31, 2020 United States $ 339.1 $ 334.2 International (1) 3.8 4.5 Total property and equipment, net $ 342.9 $ 338.7 (1) No single country other than the United States had a property and equipment balance greater than 10% of total property and equipment, net, as of June 30, 2021 and December 31, 2020. Revenue Revenue by geography is generally based on the address of the customer as defined in the Company’s subscription agreement. The following table sets forth revenue by geographic area for the three and six months ended June 30, 2021 and 2020. Three Months Ended Six Months Ended 2021 2020 2021 2020 United States $ 277.3 $ 244.6 $ 544.6 $ 480.2 International (1) 253.3 222.8 497.6 442.2 Total revenue $ 530.6 $ 467.4 $ 1,042.2 $ 922.4 (1) No single country outside of the United States accounted for more than 10% of total revenue during the three and six months ended June 30, 2021 and 2020, respectively

Description of the Business a_2

Description of the Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the United States of America generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the SEC regarding interim financial reporting. The accompanying unaudited condensed consolidated financial statements include the accounts of Dropbox and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Basis of consolidation	The condensed consolidated balance sheet as of December 31, 2020 included herein was derived from the audited financial statements as of that date. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, statements of comprehensive income, statements of stockholders' (deficit) equity and the statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ended December 31, 2021 or any future period.
Use of estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s condensed consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the condensed consolidated financial statements. Management evaluates these estimates and assumptions on a regular basis. Actual results may differ materially from these estimates.The Company’s most significant estimates and judgments involves the valuation of acquired intangible assets and goodwill from business combinations as well as the valuation of right-of-use and other lease related assets.
Financial information about segments and geographic areas	The Company manages its operations and allocates resources as a single operating segment. Further, the Company manages, monitors, and reports its financials as a single reporting segment. The Company’s chief operating decision-maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources.
Foreign currency transactions	The assets and liabilities of the Company’s foreign subsidiaries are translated from their respective functional currencies into U.S. dollars at the exchange rates in effect at the balance sheet date. Revenue and expense amounts are translated at the average exchange rate for the period. Foreign currency translation gains and losses are recorded in other comprehensive income.Gains and losses realized from foreign currency transactions (those transactions denominated in currencies other than the foreign subsidiaries’ functional currency) are included in other income, net. Monetary assets and liabilities are remeasured using foreign currency exchange rates at the end of the period, and non-monetary assets are remeasured based on historical exchange rates.
Revenue recognition, cost of revenue, and deferred commissions, net	The Company derives its revenue from subscription fees from customers for access to its platform. The Company’s policy is to exclude sales and other indirect taxes when measuring the transaction price of its subscription agreements. The Company accounts for revenue contracts with customers through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, the Company satisfies a performance obligation The Company’s subscription agreements generally have monthly or annual contractual terms and a small percentage have multi-year contractual terms. Revenue is recognized ratably over the related contractual term beginning on the date that the platform is made available to a customer. Access to the platform represents a series of distinct services as the Company continually provides access to, and fulfills its obligation to the end customer over the subscription term. The series of distinct services represents a single performance obligation that is satisfied over time. The Company recognizes revenue ratably because the customer receives and consumes the benefits of the platform throughout the contract period. The Company’s contracts are generally non-cancelable. The Company bills in advance for monthly contracts and typically bills annually in advance for contracts with terms of one year or longer. The Company also recognizes an immaterial amount of contract assets, or unbilled receivables, primarily relating to consideration for services completed but not billed at the reporting date. Unbilled receivables are classified as receivables when the Company has the right to invoice the customer. The Company records contract liabilities when cash payments are received or due in advance of performance to deferred revenue. Deferred revenue primarily relates to the advance consideration received from the customer. The price of subscriptions is generally fixed at contract inception and therefore, the Company’s contracts do not contain a significant amount of variable consideration. As a result, the amount of revenue recognized in the periods presented from performance obligations satisfied (or partially satisfied) in previous periods was not material.
Stock-based compensation	The Company has primarily granted restricted stock units ("RSUs") to its employees and members of the Board of Directors under the 2008 Equity Incentive Plan (“2008 Plan”), the 2017 Equity Incentive Plan (“2017 Plan”), and the 2018 Equity Incentive Plan ("2018 Plan" and together with the 2008 Plan and 2017 Plan, the "Dropbox Equity Incentive Plans"). The RSUs granted by the Company under the Dropbox Equity Incentive Plans have a service-based vesting condition over a four-year period. These awards typically have a cliff vesting period of one year and continue to vest quarterly thereafter. The Company recognizes compensation expense associated with RSUs ratably on a straight-line basis over the requisite service period and accounts for forfeitures in the period in which they occur. As of June 30, 2021, the Company had RSUs and restricted stock awards ("RSAs") granted to certain executives outstanding under the Dropbox Equity Incentive Plans. The fair values of the common stock underlying the RSUs granted in periods prior to the date of the Company's initial public offering ("IPO") were determined by the Board of Directors, with input from management and contemporaneous third-party valuations, which were performed at least quarterly. For valuations after the Company's IPO, the Board of Directors determines the fair value of each share of underlying common stock based on the closing price of the Company's Class A common stock as reported on the Nasdaq Global Select Market on the date of the grant. In connection with the acquisition of DocSend, Inc. ("DocSend"), the Company assumed unvested stock options and an immaterial number of unvested RSUs that had been granted under DocSend's 2013 Stock Plan and DocSend's 2015 Stock Option and Grant Plan. The fair value of the DocSend options assumed were based upon the Black-Scholes option-pricing model. See Note 12 "Stockholders' (Deficit) Equity" for further information.
Cash and cash equivalents	Cash consists primarily of cash on deposit with banks and includes amounts in transit from payment processors for credit and debit card transactions, which typically settle within five business days. Cash equivalents include highly liquid investments purchased with an original maturity date of 90 days or less from the date of purchase. The Company monitors its credit risk by considering factors such as historical experience, credit ratings, current economic conditions, and reasonable and supportable forecasts.
Short-term investments	The Company’s short-term investments are primarily comprised of corporate notes and obligations, U.S. Treasury securities, certificates of deposit, asset-backed securities, commercial paper, U.S. agency obligations, foreign government securities, supranational securities and municipal securities. The Company determines the appropriate classification of its short-term investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its short-term investments as available-for-sale securities as the Company may sell these securities at any time for use in its current operations or for other purposes, even prior to maturity. As a result, the Company classifies its short-term investments, including securities with stated maturities beyond twelve months, within current assets in the condensed consolidated balance sheets. The Company's short-term investments are recorded at fair value each reporting period. Unrealized gains and losses on these short-term investments are reported as a separate component of accumulated other comprehensive income in the condensed consolidated balance sheets until realized. Unrealized gains and losses for any short-term investments that management intends to sell or it is more likely than not that management will be required to sell prior to their anticipated recovery are recorded in other income, net. The Company segments its portfolio based on the underlying risk profiles of the securities and has a zero-loss expectation for U.S. treasury and U.S. government agency securities. The Company regularly reviews the securities in an unrealized loss position and evaluates the current expected credit loss by considering factors such as credit ratings, issuer-specific factors, current economic conditions, and reasonable and supportable forecasts.
Concentrations of credit risk	Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, accounts receivable, and short-term investments. The Company places its cash and cash equivalents and short-term investments with well-established financial institutions.
Property and equipment, net	Equipment is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of the related asset, which is generally three The following table presents the estimated useful lives of property and equipment: Property and equipment Useful life Buildings 20 to 30 years Datacenter and other computer equipment 3 to 5 years Office equipment and other 3 to 7 years Leasehold improvements Lesser of estimated useful life or remaining lease term
Lease obligations	The Company leases office space, data centers, and equipment under non-cancelable finance and operating leases with various expiration dates through 2036. The Company determines if an arrangement contains a lease at inception. Operating lease right-of-use assets and lease liabilities are recognized at the present value of the future lease payments at commencement date. The interest rate implicit in the Company’s operating leases is not readily determinable, and therefore an incremental borrowing rate is estimated to determine the present value of future payments. The estimated incremental borrowing rate factors in a hypothetical interest rate on a collateralized basis with similar terms, payments, and economic environments. Operating lease right-of-use assets also include any prepaid lease payments and lease incentives. Certain of the operating lease agreements contain rent concession, rent escalation, and option to renew provisions. Rent concession and rent escalation provisions are considered in determining the single lease cost to be recorded over the lease term. Single lease cost is recognized on a straight-line basis over the lease term commencing on the date the Company has the right to use the leased property. The lease terms may include options to extend or terminate the lease. The Company generally uses the base, non-cancelable, lease term when recognizing the lease assets and liabilities, unless it is reasonably certain that the option will be exercised. In addition, certain operating lease agreements contain tenant improvement allowances from its landlords. These allowances are accounted for as lease incentives and decrease the Company's right-of-use asset and reduce single lease cost over the lease term. As part of the Company's Virtual First strategy, Dropbox will retain a portion of its office space to be used for the Company’s team collaboration use and a portion will be marketed for sublease. During the first quarter of 2021, the Company recorded an impairment charge of $17.3 million related to right-of-use assets and other lease related property and equipment assets. During the fourth quarter of 2020, the Company recorded an impairment charge of $398.2 million related to right-of-use assets and other lease related property and equipment assets. These impairment charges were recorded in conjunction with the Company's decision to move towards a Virtual First work model. See Note 9 "Leases" for further information. The Company leases certain equipment from various third parties, through equipment finance leases. These leases either include a bargain purchase option, a full transfer of ownership at the completion of the lease term, or the terms of the leases are at least 75 percent of the useful lives of the assets and are therefore classified as finance leases. These leases are capitalized in property and equipment, net and the related amortization of assets under finance leases is included in depreciation and amortization expense in the Company’s condensed consolidated statements of operations. Initial asset values and finance lease obligations are based on the present value of future minimum lease payments.
Business combinations	The Company uses best estimates and assumptions, including but not limited to, future expected cash flows, expected asset lives, and discount rates, to assign a fair value to the tangible and intangible assets acquired and liabilities assumed in business combinations as of the acquisition date. These estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed may be recorded, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s condensed consolidated statements of operations.
Long-lived assets, including goodwill and other acquired intangible assets, net	The Company evaluates the recoverability of its property and equipment and finite-lived intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. The evaluation is performed at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If such review determines that the carrying amount of specific property and equipment or intangible assets is not recoverable, the carrying amount of such assets is reduced to its fair value. The Company reviews goodwill for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances would more likely than not reduce the fair value of its single reporting unit below its carrying value. The Company has not recorded impairment charges on goodwill or intangible assets for the periods presented in these condensed consolidated financial statements. During the first quarter of 2021 and the fourth quarter of 2020, the Company recorded impairment charges in conjunction with the Company's decision to move towards a Virtual First work model. See Note 9 "Leases" for further information. Acquired property and equipment and finite-lived intangible assets are amortized over their useful lives. The Company evaluates the estimated remaining useful life of these assets when events or changes in circumstances warrant a revision to the remaining period of amortization. If the Company revises the estimated useful life assumption for any asset, the remaining unamortized balance is amortized or depreciated over the revised estimated useful life on a prospective basis.
Income taxes	Deferred income tax balances reflect the effects of temporary differences between the financial reporting and tax bases of the Company’s assets and liabilities using enacted tax rates expected to apply when taxes are actually paid or recovered. In addition, deferred tax assets are recorded for net operating loss and credit carryforwards. A valuation allowance is provided against deferred tax assets unless it is more likely than not that they will be realized based on all available positive and negative evidence. Such evidence includes, but is not limited to, recent cumulative earnings or losses, expectations of future taxable income by taxing jurisdiction, and the carry-forward periods available for the utilization of deferred tax assets. The Company uses a two-step approach to recognizing and measuring uncertain income tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. Although the Company believes that it has adequately reserved for its uncertain tax positions, it can provide no assurance that the final tax outcome of these matters will not be materially different. The Company evaluates its uncertain tax positions on a regular basis and evaluations are based on a number of factors, including changes in facts and circumstances, changes in tax law, correspondence with tax authorities during the course of an audit, and effective settlement of audit issues. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made and could have a material impact on the Company’s financial condition and results of operations.
Fair value measurement	The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which it would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions, and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability.
Recently issued accounting pronouncements not yet adopted and Recently adopted accounting pronouncements	Recently adopted accounting pronouncements In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40). This ASU simplifies the accounting for convertible instruments and contracts in an entity’s own equity, as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. Among other changes, the new guidance eliminates the requirement to separate the convertible debt into debt and equity components, unless the conversion feature is required to be bifurcated and accounted for as a derivative or the debt is issued at a substantial premium. As a result, after adopting the guidance, entities will no longer separately present such embedded conversion features in equity, and will instead account for the convertible debt wholly as debt. The ASU also removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. Lastly, entities are required to use the if-converted method for convertible instruments in the diluted earnings per share calculation. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, but only at the beginning of the fiscal year. This update permits the use of either the modified retrospective or fully retrospective method of transition. The Company early adopted this guidance as of January 1, 2021 using the modified retrospective approach. The adoption of the guidance did not have an impact on the Company’s financial statement as of the adoption date. As further discussed in Note 8 "Debt", the Company issued certain convertible senior notes and entered into certain contracts in the Company’s own equity during the six months ended June 30, 2021, and the accounting for these instruments was based on the guidance in ASU 2020-06. Additionally, the impact on diluted earnings per share of the convertible senior notes was calculated based on the if-converted method, as further described in Note 13 "Net Income Per Share" for further information.
Goodwill	Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquiredGoodwill amounts are not amortized, but tested for impairment on an annual basis.
Net loss per share	The Company computes net income per share using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock share equally in the Company’s net income and losses.

Description of the Business a_3

Description of the Business and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Estimated Useful Lives of Property and Equipment	The following table presents the estimated useful lives of property and equipment: Property and equipment Useful life Buildings 20 to 30 years Datacenter and other computer equipment 3 to 5 years Office equipment and other 3 to 7 years Leasehold improvements Lesser of estimated useful life or remaining lease term Property and equipment, net consisted of the following: As of June 30, 2021 December 31, 2020 Data center and other computer equipment $ 656.4 $ 652.7 Furniture and fixtures 18.6 19.9 Leasehold improvements 96.8 96.9 Construction in progress 21.9 21.0 Total property and equipment 793.7 790.5 Accumulated depreciation and amortization (450.8) (451.8) Property and equipment, net $ 342.9 $ 338.7

Cash, Cash Equivalents and Sh_2

Cash, Cash Equivalents and Short-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2021
Cash and Cash Equivalents [Abstract]
Schedule of Cash, Cash Equivalents and Short-Term Investments	The amortized cost, unrealized gains and losses and estimated fair value of the Company's cash, cash equivalents and short-term investments as of June 30, 2021 and December 31, 2020 consisted of the following: As of June 30, 2021 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash $ 70.5 $ — $ — $ 70.5 Cash equivalents Money market funds 790.1 — — 790.1 Commercial paper 21.1 — — 21.1 Certificates of deposit 3.6 — — 3.6 Total cash & cash equivalents $ 885.3 $ — $ — $ 885.3 Short-term investments Corporate notes and obligations 467.2 1.3 (0.5) 468.0 U.S. Treasury securities 229.4 0.2 (1.1) 228.5 Asset backed securities 119.0 0.3 (0.2) 119.1 Commercial paper 77.5 — — 77.5 Municipal securities 62.9 0.1 (0.2) 62.8 Certificates of deposit 53.1 — — 53.1 Foreign government obligations 18.4 — — 18.4 Supranational Securities 17.0 — — 17.0 U.S. agency obligations 14.6 — (0.1) 14.5 Total short-term investments 1,059.1 1.9 (2.1) 1,058.9 Total $ 1,944.4 $ 1.9 $ (2.1) $ 1,944.2 As of December 31, 2020 Amortized cost Unrealized gain Unrealized loss Estimated fair value Cash $ 67.2 $ — $ — $ 67.2 Cash equivalents Money market funds 222.6 — — 222.6 U.S. Treasury securities 10.6 — — 10.6 Commercial paper 8.0 — — 8.0 Corporate notes and obligations 5.0 — — 5.0 Municipal securities 1.5 1.5 Total cash and cash equivalents $ 314.9 $ — $ — 314.9 Short-term investments Corporate notes and obligations 374.3 2.5 (0.1) 376.7 U.S. Treasury securities 215.4 1.0 — 216.4 Asset backed securities 73.5 0.6 — 74.1 Municipal securities 38.7 0.1 — 38.8 U.S. agency obligations 23.0 0.1 — 23.1 Commercial paper 22.5 — — 22.5 Supranational Securities 18.7 — — 18.7 Foreign government obligations 18.5 — — 18.5 Certificates of deposit 17.6 — — 17.6 Total short-term investments 802.2 4.3 (0.1) 806.4 Total $ 1,117.1 $ 4.3 $ (0.1) $ 1,121.3
Contractual Maturities of Short Term Investments	The following table presents the contractual maturities of the Company’s short-term investments as of June 30, 2021: As of June 30, 2021 Amortized cost Estimated fair value Due within one year $ 295.4 $ 296.1 Due between one to three years 500.9 501.3 Due after three years 262.8 261.5 Total $ 1,059.1 $ 1,058.9

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets Measured On Recurring Basis	The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis using the input categories discussed in Note 1: As of June 30, 2021 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 790.1 $ — $ — $ 790.1 Commercial paper — 21.1 — 21.1 Certificates of deposit — 3.6 — 3.6 Total cash equivalents $790.1 $24.7 $ — $814.8 Short-term investments Corporate notes and obligations — 468.0 — 468.0 U.S. Treasury securities — 228.5 — 228.5 Asset backed securities — 119.1 — 119.1 Commercial paper — 77.5 — 77.5 Municipal securities — 62.8 — 62.8 Certificates of deposit — 53.1 — 53.1 Foreign government obligations — 18.4 — 18.4 Supranational Securities — 17.0 — 17.0 U.S. agency obligations — 14.5 — 14.5 Total short-term investments — 1,058.9 — 1,058.9 Total $ 790.1 $ 1,083.6 $ — $ 1,873.7 The Company has an investment in a non-marketable equity security in a privately held company without a readily determinable market value. The investments had a carrying value of $5.6 million and was categorized as Level 3 as of June 30, 2021 and December 31, 2020. As of December 31, 2020 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 222.6 $ — $ — $ 222.6 U.S. Treasury securities — 10.6 — 10.6 Commercial paper — 8.0 — 8.0 Corporate notes and obligations — 5.0 — 5.0 Municipal securities — 1.5 — 1.5 Total Cash Equivalents $ 222.6 $ 25.1 $ — $ 247.7 Short-term investments Corporate notes and obligations — 376.7 — 376.7 U.S. Treasury securities — 216.4 — 216.4 Asset-backed securities — 74.1 — 74.1 Municipal securities — 38.8 — 38.8 U.S. agency obligations — 23.1 — 23.1 Commercial paper — 22.5 — 22.5 Supranational securities — 18.7 — 18.7 Foreign government obligations — 18.5 — 18.5 Certificates of deposit — 17.6 — 17.6 Total short-term investments — 806.4 — 806.4 Total $ 222.6 $ 831.5 $ — $ 1,054.1

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	The following table presents the estimated useful lives of property and equipment: Property and equipment Useful life Buildings 20 to 30 years Datacenter and other computer equipment 3 to 5 years Office equipment and other 3 to 7 years Leasehold improvements Lesser of estimated useful life or remaining lease term Property and equipment, net consisted of the following: As of June 30, 2021 December 31, 2020 Data center and other computer equipment $ 656.4 $ 652.7 Furniture and fixtures 18.6 19.9 Leasehold improvements 96.8 96.9 Construction in progress 21.9 21.0 Total property and equipment 793.7 790.5 Accumulated depreciation and amortization (450.8) (451.8) Property and equipment, net $ 342.9 $ 338.7

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Purchase Consideration Transferred	The purchase consideration transferred consisted of the following: Purchase consideration Cash paid to common and preferred stockholders and vested option holders $ 125.5 Transaction costs paid by Dropbox on behalf of DocSend 5.0 Fair value of assumed DocSend options attributable to pre-combination services (1) 1.2 Total purchase consideration $ 131.7 (1) The fair value of options assumed was determined based upon the Black-Scholes option-pricing model. The purchase consideration transferred consisted of the following: Purchase consideration Cash paid to common and preferred stockholders and vested option holders $ 175.2 Transaction costs paid by Dropbox on behalf of HelloSign 2.4 Fair value of assumed HelloSign options attributable to pre-combination services (1) 0.8 Purchase price adjustments (0.5) Total purchase consideration $ 177.9 (1) The fair value of options assumed were based upon the Black-Scholes option-pricing model.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The purchase consideration was allocated to the tangible and intangible assets and liabilities acquired as of the acquisition date, with the excess recorded to goodwill as shown below. The fair value of assets and liabilities acquired may change as additional information is received during the measurement period. The measurement period will end no later than one-year from the acquisition date. Assets acquired: Cash and cash equivalents $ 5.1 Acquisition-related intangible assets 20.6 Accounts receivable, prepaid and other assets 6.1 Total assets acquired $ 31.8 Liabilities assumed: Accounts payable, accrued and other liabilities $ 6.4 Deferred revenue 1.9 Deferred tax liability 1.9 Total liabilities assumed 10.2 Net assets acquired, excluding goodwill 21.6 Total purchase consideration 131.7 Goodwill (2) $ 110.1 (2) The goodwill recognized was primarily attributable to the opportunity to expand the user base of the Company's platform. The goodwill is not deductible for U.S. federal income tax purposes. The purchase consideration was allocated to the tangible and intangible assets and liabilities acquired as of the acquisition date, with the excess recorded to goodwill as shown below. Assets acquired: Cash and cash equivalents $ 5.5 Short-term investments 7.8 Acquisition-related intangible assets 44.6 Accounts receivable, prepaid and other assets 5.0 Total assets acquired $ 62.9 Liabilities assumed: Accounts payable, accrued and other liabilities $ 6.3 Deferred revenue 4.8 Deferred tax liability 6.9 Total liabilities assumed 18.0 Net assets acquired, excluding goodwill 44.9 Total purchase consideration 177.9 Goodwill (2) $ 133.0 (2) The goodwill recognized was primarily attributable to the opportunity to expand the user base of the Company's platform. The goodwill is not deductible for U.S. federal income tax purposes.
Schedule of Finite-Lived Intangible Assets Acquired and Estimated Useful Lives	The fair value of the separately identifiable finite-lived intangible assets acquired and estimated weighted average useful lives are as follows: Estimated fair values Estimated weighted average useful lives Developed technology $ 11.5 5.0 Customer relationships 8.1 5.0 Trade name 1.0 5.0 Total acquisition-related intangible assets $ 20.6 The fair value of the separately identifiable finite-lived intangible assets acquired and estimated weighted average useful lives are as follows: Estimated fair values Estimated weighted average useful lives Customer relationships $ 20.5 4.9 Developed technology 19.6 5.0 Trade name 4.5 5.0 Total acquisition-related intangible assets $ 44.6

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consisted of the following: As of June 30, As of December 31, Weighted- (In years) As of June 30, 2021 2020 2021 Developed technology $ 37.5 $ 26.0 3.7 Customer relationships 28.6 20.5 3.8 Patents 14.8 12.8 6.2 Software 9.0 9.0 0.8 Trademarks and trade names 5.6 4.6 3.1 Licenses 4.6 4.6 — Assembled workforce in asset acquisitions 3.0 3.0 — Other 0.8 0.8 4.2 Total intangibles 103.9 81.3 Accumulated amortization (55.0) (47.8) Intangible assets, net $ 48.9 $ 33.5
Schedule of Future Amortization Expense	Expected future amortization expense for intangible assets as of June 30, 2021 is as follows: Remaining six months of Fiscal 2021 $ 7.9 2022 12.8 2023 12.2 2024 7.9 2025 6.0 Thereafter 2.1 Total $ 48.9

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amounts of goodwill were as follows: Balance at December 31, 2020 $ 236.9 DocSend acquisition 110.1 Effect of foreign currency translation (0.2) Balance at June 30, 2021 $ 346.8

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Convertible Debt	The following is a summary of the Company’s convertible senior notes as of June 30, 2021. 2026 Notes 2028 Notes Total Principal balance $ 695.8 $ 693.3 $ 1,389.1 Unamortized issuance costs (10.3) (10.4) (20.7) Carrying value, net 685.5 682.9 1,368.4
Schedule of Maturities of Long-term Debt	Maturities on the Company's long-term convertible debt are as follows: Convertible Debt July 1, 2021 through December 31, 2021 $ — 2022 — 2023 — 2024 — 2025 — 2026 695.8 Thereafter 693.3 Total $ 1,389.1

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Maturities of Operating Lease Liabilities	Future minimum lease payments under non-cancellable leases as of June 30, 2021 were as follows: Year ending December 31, Operating leases (1) Finance leases 2021 (excluding the six months ended June 30, 2021) $ 60.8 $ 65.0 2022 118.5 110.4 2023 102.7 77.3 2024 92.0 42.2 2025 86.9 5.0 Thereafter 566.2 — Total future minimum lease payments 1,027.1 299.9 Less imputed interest (208.8) (12.0) Less tenant improvement receivables (8.0) — Total liability $ 810.3 $ 287.9
Maturities of Finance Lease Liabilities	Future minimum lease payments under non-cancellable leases as of June 30, 2021 were as follows: Year ending December 31, Operating leases (1) Finance leases 2021 (excluding the six months ended June 30, 2021) $ 60.8 $ 65.0 2022 118.5 110.4 2023 102.7 77.3 2024 92.0 42.2 2025 86.9 5.0 Thereafter 566.2 — Total future minimum lease payments 1,027.1 299.9 Less imputed interest (208.8) (12.0) Less tenant improvement receivables (8.0) — Total liability $ 810.3 $ 287.9
Payment to be Received on Operating Leases to Subtenants	Future non-cancelable rent payments from the Company's subtenants as of June 30, 2021 were as follows: Year ending December 31, Operating leases 2021 (excluding the six months ended June 30, 2021) $ 8.5 2022 20.9 2023 12.3 2024 11.5 2025 11.0 Thereafter 67.5 Total future sublease rent payments 131.7 Less sub-tenant incentive (10.5) Total future sublease rent payments, net $ 121.2

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Schedule Of Accrued And Other Current Liabilities	Accrued and other current liabilities consisted of the following: As of June 30, 2021 December 31, 2020 Non-income taxes payable $ 81.6 $ 85.9 Accrued legal and other external fees 28.2 23.4 Other accrued and current liabilities 48.9 47.4 Total accrued and other current liabilities $ 158.7 $ 156.7

Stockholders' (Deficit) Equity

Stockholders' (Deficit) Equity (Tables)	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Schedule of Stock Option and Restricted Stock Activity	Stock option and restricted stock activity for the Plans was as follows for the six months ended June 30, 2021: Options outstanding Restricted stock Number of Number of Weighted- Weighted- Aggregate intrinsic value Number of Plan shares outstanding Weighted- Balance at December 31, 2020 78.5 1.3 $ 13.73 5.7 $ 11.35 31.9 $ 19.79 Additional shares authorized 20.3 — — — — — — Stock options assumed (1) 0.4 0.4 $ 2.17 — — Options exercised and restricted stock units and awards released — (0.5) 10.03 — — (6.9) 20.43 Options and restricted stock units and awards canceled 7.2 (0.1) 14.91 — — (7.1) 20.44 Shares withheld related to net share settlement of restricted stock units and awards 2.5 — — — — — 20.36 Options and restricted stock units and awards granted (12.6) — — — — 12.6 25.63 Balance as of June 30, 2021 (2) 96.3 1.1 $ 11.39 6.1 $ 18.97 30.5 $ 21.90 Vested at June 30, 2021 0.6 $ 18.79 4.5 $ 6.00 — $ — Unvested at June 30, 2021 0.5 $ 3.54 $ 12.97 30.5 $ 21.90 (1) This amount includes an immaterial amount of unvested RSUs that were assumed as part of the acquisition of DocSend. The RSUs had a weighted-average grant date fair value of $26.86 per share and a total fair value of $0.4 million, all of which will be recognized as post-combination stock-based compensation expense. (2) This amount excludes restricted stock awards granted with service and market based vesting conditions.
Schedule of Pre-Tax Intrinsic Value	The following table summarizes information about the pre-tax intrinsic value of options exercised during the three and six months ended June 30, 2021 and 2020: Three Months Ended Six Months Ended 2021 2020 2021 2020 Intrinsic value of options exercised $ 4.0 $ 3.0 $ 8.7 $ 4.8
Fair Value of Stock Options Assumptions Used	The fair value of stock options assumed were estimated using the following assumptions: Expected volatility 47 % Expected term (in years) 2.0 - 6.8 Risk-free interest rate 0.15% - 1.29% Dividend yield — %

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The numerators and denominators of the basic and diluted EPS computations for our common stock are calculated as follows (in millions, except for per share amounts): Three Months Ended Three Months Ended 2021 2020 Class A Class B Class A Class B Basic net income per share: Numerator Net income attributable to common stockholders $ 69.1 $ 18.8 $ 11.9 $ 5.6 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 305.3 83.2 281.5 132.7 Net income per common share, basic $ 0.23 $ 0.23 $ 0.04 $ 0.04 Diluted net income per share: Numerator Net income attributable to common stockholders $ 69.1 $ 18.8 $ 11.9 $ 5.6 Reallocation of net income as a result of conversion of Class B to Class A common stock 18.8 — 5.6 — Reallocation of net income to Class B common stock — (0.4) — (0.1) Net income attributable to common stockholders for diluted EPS $ 87.9 $ 18.4 $ 17.5 $ 5.5 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 305.3 83.2 281.5 132.7 Weighted-average effect of dilutive restricted stock units and awards and employee stock options 8.5 0.1 6.0 0.3 Conversion of Class B to Class A common stock 83.2 — 132.7 — Weighted-average number of common shares outstanding used in computing diluted net income per share 397.0 83.3 420.2 133.0 Net income per common share, diluted $ 0.22 $ 0.22 $ 0.04 $ 0.04 Six Months Ended Six Months Ended 2021 2020 Class A Class B Class A Class B Basic net income per share: Numerator Net income attributable to common stockholders $ 106.9 $ 28.7 $ 37.0 $ 19.8 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 310.0 83.3 270.7 145.0 Net income per common share, basic $ 0.34 $ 0.34 $ 0.14 $ 0.14 Diluted net income per share: Numerator Net income attributable to common stockholders $ 106.9 $ 28.7 $ 37.0 $ 19.8 Reallocation of net income as a result of conversion of Class B to Class A common stock 28.7 — 19.8 — Reallocation of net income to Class B common stock — (0.5) — (0.1) Net income attributable to common stockholders for diluted EPS $ 135.6 $ 28.2 $ 56.8 $ 19.7 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 310.0 83.3 270.7 145.0 Weighted-average effect of dilutive restricted stock units and awards and employee stock options 7.9 0.1 3.6 0.3 Conversion of Class B to Class A common stock 83.3 — 145.0 — Weighted-average number of common shares outstanding used in computing diluted net income per share 401.2 83.4 419.3 145.3 Net income per common share, diluted $ 0.34 $ 0.34 $ 0.14 $ 0.14
Schedule of Potentially Dilutive Securities Excluded from Computation of Earnings Per Share	The weighted-average impact of potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive was as follows: Three Months Ended Six Months Ended 2021 2020 2021 2020 Restricted stock units and awards 0.2 9.4 4.9 11.1 Options to purchase shares of common stock 0.1 0.8 0.3 0.9 Co-Founder Grants 10.3 10.3 10.3 12.2 Convertible Senior Notes 37.8 — 26.0 — Warrants 37.8 — 26.0 — Total 86.2 20.5 67.5 24.2

Geographic Areas (Tables)

Geographic Areas (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Long-lived Assets by Geographic Areas	The following table sets forth long-lived assets by geographic area: As of June 30, 2021 December 31, 2020 United States $ 339.1 $ 334.2 International (1) 3.8 4.5 Total property and equipment, net $ 342.9 $ 338.7
Revenue by Geographic Areas	The following table sets forth revenue by geographic area for the three and six months ended June 30, 2021 and 2020. Three Months Ended Six Months Ended 2021 2020 2021 2020 United States $ 277.3 $ 244.6 $ 544.6 $ 480.2 International (1) 253.3 222.8 497.6 442.2 Total revenue $ 530.6 $ 467.4 $ 1,042.2 $ 922.4 (1) No single country outside of the United States accounted for more than 10% of total revenue during the three and six months ended June 30, 2021 and 2020, respectively

Description of the Business a_4

Description of the Business and Summary of Significant Accounting Policies - Foreign Currency Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foreign currency transaction gains (losses)	$ 0.4	$ 1.2	$ 0.6	$ (0.1)

Description of the Business a_5

Description of the Business and Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenue, performance obligation, description of timing			one year or longer
Revenue recognized	$ 298.2	$ 267.1	$ 463.2	$ 421.2
Remaining performance obligation	$ 715		$ 715
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation satisfaction period	12 months		12 months

Description of the Business a_6

Description of the Business and Summary of Significant Accounting Policies - Stock-based Compensation (Details) - shares shares in Millions	Mar. 19, 2020	Dec. 31, 2017	Jun. 30, 2021
One-Tier RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)			12.6
Shares forfeited (in shares)			7.1
Tranche One | One-Tier RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Co-Founder Grants | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		14.7
Shares forfeited (in shares)	4.4
Co-Founder Grants | Tranche One | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Chief Executive Officer | Co-Founder Grants | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		10.3
Director | Co-Founder Grants | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		4.4
Shares forfeited (in shares)	4.4

Description of the Business a_7

Description of the Business and Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) - Trade and Other Receivables - Customer Concentration Risk	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	47.00%	11.00%
Customer B
Concentration Risk [Line Items]
Concentration risk, percentage		28.00%

Description of the Business a_8

Description of the Business and Summary of Significant Accounting Policies - Deferred Commissions, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Capitalized Contract Cost [Line Items]
Additional contract costs deferred	$ 4.9	$ 11.2	$ 9.8	$ 19
Amortization of deferred commissions	$ 7.7	$ 5.7	$ 15.4	$ 10.8
Deferred Commissions
Capitalized Contract Cost [Line Items]
Deferred contract costs, amortization period	5 years		5 years
Deferred Commissions | Prepaid Expenses and Other Current Assets
Capitalized Contract Cost [Line Items]
Deferred contract costs	$ 27.7		$ 27.7		$ 26.7
Deferred Commissions | Other Assets
Capitalized Contract Cost [Line Items]
Deferred contract costs	$ 40.7		$ 40.7		$ 47.3
Renewal Commissions
Capitalized Contract Cost [Line Items]
Deferred contract costs, amortization period	1 year		1 year

Description of the Business a_9

Description of the Business and Summary of Significant Accounting Policies - Property and Equipment, Net (Details)	6 Months Ended
	Jun. 30, 2021
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Minimum | Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	20 years
Minimum | Datacenter and other computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Minimum | Office equipment and other
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	7 years
Maximum | Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	30 years
Maximum | Datacenter and other computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Maximum | Office equipment and other
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	7 years

Description of the Business _10

Description of the Business and Summary of Significant Accounting Policies - Lease Obligations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2021
Accounting Policies [Abstract]
Lease impairment charges	$ 17.3	$ 398.2	$ 17.3

Cash, Cash Equivalents and Sh_3

Cash, Cash Equivalents and Short-Term Investments - Schedule of Components (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, at carrying value	$ 885.3	$ 314.9
Cash and cash equivalents, estimated fair value	885.3	314.9
Short-term investments, amortized cost	1,059.1	802.2
Short-term investments, unrealized gain	1.9	4.3
Short-term investments, unrealized loss	(2.1)	(0.1)
Short-term investments, estimated fair value	1,058.9	806.4
Total cash, cash equivalents, and short term investments, before unrealized gains (losses) on investments	1,944.4	1,117.1
Total cash, cash equivalents, and short term investments	1,944.2	1,121.3
Corporate notes and obligations
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	467.2	374.3
Short-term investments, unrealized gain	1.3	2.5
Short-term investments, unrealized loss	(0.5)	(0.1)
Short-term investments, estimated fair value	468	376.7
U.S. Treasury securities
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	229.4	215.4
Short-term investments, unrealized gain	0.2	1
Short-term investments, unrealized loss	(1.1)	0
Short-term investments, estimated fair value	228.5	216.4
Asset backed securities
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	119	73.5
Short-term investments, unrealized gain	0.3	0.6
Short-term investments, unrealized loss	(0.2)	0
Short-term investments, estimated fair value	119.1	74.1
Commercial paper
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	77.5	22.5
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	0	0
Short-term investments, estimated fair value	77.5	22.5
Municipal securities
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	62.9	38.7
Short-term investments, unrealized gain	0.1	0.1
Short-term investments, unrealized loss	(0.2)	0
Short-term investments, estimated fair value	62.8	38.8
Certificates of deposit
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	53.1	17.6
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	0	0
Short-term investments, estimated fair value	53.1	17.6
Foreign government obligations
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	18.4	18.5
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	0	0
Short-term investments, estimated fair value	18.4	18.5
Supranational securities
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	17	18.7
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	0	0
Short-term investments, estimated fair value	17	18.7
U.S. agency obligations
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	14.6	23
Short-term investments, unrealized gain	0	0.1
Short-term investments, unrealized loss	(0.1)	0
Short-term investments, estimated fair value	14.5	23.1
Cash
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, at carrying value	70.5	67.2
Cash and cash equivalents, estimated fair value	70.5	67.2
Money market funds
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, at carrying value	790.1	222.6
Cash and cash equivalents, estimated fair value	790.1	222.6
Commercial paper
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, at carrying value	21.1	8
Cash and cash equivalents, estimated fair value	21.1	8
Certificates of deposit
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, at carrying value	3.6
Cash and cash equivalents, estimated fair value	$ 3.6
U.S. Treasury securities
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, at carrying value		10.6
Cash and cash equivalents, estimated fair value		10.6
Corporate notes and obligations
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, at carrying value		5
Cash and cash equivalents, estimated fair value		5
Municipal securities
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, at carrying value		1.5
Cash and cash equivalents, estimated fair value		$ 1.5

Cash, Cash Equivalents and Sh_4

Cash, Cash Equivalents and Short-Term Investments - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)investmentTypeinvestment	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)investmentTypeinvestment	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Cash and Cash Equivalents [Abstract]
Cash in transit for credit and debit card transactions	$ 10.7		$ 10.7		$ 9.8
Number of investments in unrealized loss positions | investment	232		232
Number of security types | investmentType	9		9
Number of security types in loss position | investmentType	6		6
Unrealized losses, short term investments	$ 2.1		$ 2.1
Investment income	$ 1.9	$ 2.7	$ 3.8	$ 7.8

Cash, Cash Equivalents and Sh_5

Cash, Cash Equivalents and Short-Term Investments - Contractual Maturities (Details) $ in Millions	Jun. 30, 2021USD ($)
Amortized cost
Due within one year	$ 295.4
Due between one to three years	500.9
Due after three years	262.8
Total	1,059.1
Estimated fair value
Due within one year	296.1
Due between one to three years	501.3
Due after three years	261.5
Total	$ 1,058.9

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	$ 885.3	$ 314.9
Total short-term investments	1,058.9	806.4
U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	228.5	216.4
Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	119.1	74.1
Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	77.5	22.5
Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	62.8	38.8
Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	53.1	17.6
Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	18.4	18.5
Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	17	18.7
U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	14.5	23.1
Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	790.1	222.6
Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	21.1	8
Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	3.6
U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value		10.6
Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value		5
Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value		1.5
Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	814.8	247.7
Total short-term investments	1,058.9	806.4
Total	1,873.7	1,054.1
Fair Value, Measurements, Recurring | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	468	376.7
Fair Value, Measurements, Recurring | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	228.5	216.4
Fair Value, Measurements, Recurring | Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	119.1	74.1
Fair Value, Measurements, Recurring | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	77.5	22.5
Fair Value, Measurements, Recurring | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	62.8	17.6
Fair Value, Measurements, Recurring | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	53.1	38.8
Fair Value, Measurements, Recurring | Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	18.4	18.5
Fair Value, Measurements, Recurring | Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	17	18.7
Fair Value, Measurements, Recurring | U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	14.5	23.1
Fair Value, Measurements, Recurring | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	790.1	222.6
Fair Value, Measurements, Recurring | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	21.1
Fair Value, Measurements, Recurring | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	3.6
Fair Value, Measurements, Recurring | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value		1.5
Fair Value, Measurements, Recurring | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	790.1	222.6
Total short-term investments	0	0
Total	790.1	222.6
Fair Value, Measurements, Recurring | Level 1 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	790.1	222.6
Fair Value, Measurements, Recurring | Level 1 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	0
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value		0
Fair Value, Measurements, Recurring | Level 1 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value		0
Fair Value, Measurements, Recurring | Level 1 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value		0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	24.7	25.1
Total short-term investments	1,058.9	806.4
Total	1,083.6	831.5
Fair Value, Measurements, Recurring | Level 2 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	468	376.7
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	228.5	216.4
Fair Value, Measurements, Recurring | Level 2 | Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	119.1	74.1
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	77.5	22.5
Fair Value, Measurements, Recurring | Level 2 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	62.8	17.6
Fair Value, Measurements, Recurring | Level 2 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	53.1	38.8
Fair Value, Measurements, Recurring | Level 2 | Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	18.4	18.5
Fair Value, Measurements, Recurring | Level 2 | Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	17	18.7
Fair Value, Measurements, Recurring | Level 2 | U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	14.5	23.1
Fair Value, Measurements, Recurring | Level 2 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	0	0
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	21.1	8
Fair Value, Measurements, Recurring | Level 2 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	3.6
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value		10.6
Fair Value, Measurements, Recurring | Level 2 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value		5
Fair Value, Measurements, Recurring | Level 2 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value		1.5
Fair Value, Measurements, Recurring | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	0	0
Total short-term investments	0	0
Total	0	0
Fair Value, Measurements, Recurring | Level 3 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	0	0
Fair Value, Measurements, Recurring | Level 3 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	0	0
Fair Value, Measurements, Recurring | Level 3 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value	$ 0
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value		0
Fair Value, Measurements, Recurring | Level 3 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value		0
Fair Value, Measurements, Recurring | Level 3 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, estimated fair value		$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
2026 Convertible Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible debt, fair value	$ 745.8
2026 Convertible Notes | Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible debt, aggregate principal amount	$ 695.8
Convertible debt, interest rate	0.00%
2028 Convertible Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible debt, fair value	$ 763.4
2028 Convertible Notes | Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible debt, aggregate principal amount	$ 693.3
Convertible debt, interest rate	0.00%
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity investments	$ 5.6	$ 5.6

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Components (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 793.7	$ 790.5
Accumulated depreciation and amortization	(450.8)	(451.8)
Property and equipment, net	342.9	338.7
Data center and other computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	656.4	652.7
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	18.6	19.9
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	96.8	96.9
Construction in process
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 21.9	$ 21

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Assets under equipment finance lease, gross	$ 452.9		$ 452.9		$ 395.2
Assets under equipment finance lease, accumulated depreciation	202.9		202.9		$ 156.6
Depreciation	$ 32.7	$ 36.5	$ 64.2	$ 72.5

Business Combinations - Schedul

Business Combinations - Schedule of Purchase Consideration (Details) - USD ($) $ in Millions	Mar. 22, 2021	Feb. 08, 2019
DocSend Inc.
Business Acquisition [Line Items]
Cash paid to common and preferred stockholders and vested option holders	$ 125.5
Transaction costs paid by Dropbox	5
Fair value of assumed HelloSign options attributable to pre-combination services	1.2
Total purchase consideration	$ 131.7
HelloSign Inc.
Business Acquisition [Line Items]
Cash paid to common and preferred stockholders and vested option holders		$ 175.2
Transaction costs paid by Dropbox		2.4
Fair value of assumed HelloSign options attributable to pre-combination services		0.8
Purchase price adjustments		(0.5)
Total purchase consideration		$ 177.9

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($) $ in Millions	Mar. 22, 2021	Feb. 08, 2019	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021
Business Acquisition [Line Items]
Purchase consideration, agreements with key personnel			$ 12.1		$ 12.1
DocSend Inc.
Business Acquisition [Line Items]
Purchase consideration, agreements with key personnel	$ 30.7
Required service period	3 years
Acquired finite-lived intangible assets weighted average amortization period	5 years
Due diligence costs				$ 1.2
HelloSign Inc.
Business Acquisition [Line Items]
Purchase consideration, agreements with key personnel		$ 48.5
Required service period		3 years
Acquired finite-lived intangible assets weighted average amortization period		4 years 10 months 24 days
Personnel agreement, expense recognized			$ 4		$ 8

Business Combinations - Assets

Business Combinations - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 22, 2021	Dec. 31, 2020	Feb. 08, 2019
Liabilities assumed:
Goodwill	$ 346.8		$ 236.9
DocSend Inc.
Assets acquired:
Cash and cash equivalents		$ 5.1
Acquisition-related intangible assets		20.6
Accounts receivable, prepaid and other assets		6.1
Total assets acquired		31.8
Liabilities assumed:
Accounts payable, accrued and other liabilities		6.4
Deferred revenue		1.9
Deferred tax liability		1.9
Total liabilities assumed		10.2
Net assets acquired, excluding goodwill		21.6
Total purchase consideration		131.7
Goodwill		$ 110.1
HelloSign Inc.
Assets acquired:
Cash and cash equivalents				$ 5.5
Short-term investments				7.8
Acquisition-related intangible assets				44.6
Accounts receivable, prepaid and other assets				5
Total assets acquired				62.9
Liabilities assumed:
Accounts payable, accrued and other liabilities				6.3
Deferred revenue				4.8
Deferred tax liability				6.9
Total liabilities assumed				18
Net assets acquired, excluding goodwill				44.9
Total purchase consideration				177.9
Goodwill				$ 133

Business Combinations - Sched_2

Business Combinations - Schedule of Assets Acquired (Details) - USD ($) $ in Millions	Mar. 22, 2021	Feb. 08, 2019
DocSend Inc.
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated fair values	$ 20.6
Estimated weighted average useful lives (In years)	5 years
DocSend Inc. | Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated fair values	$ 11.5
Estimated weighted average useful lives (In years)	5 years
DocSend Inc. | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated fair values	$ 8.1
Estimated weighted average useful lives (In years)	5 years
DocSend Inc. | Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated fair values	$ 1
Estimated weighted average useful lives (In years)	5 years
HelloSign Inc.
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated fair values		$ 44.6
Estimated weighted average useful lives (In years)		4 years 10 months 24 days
HelloSign Inc. | Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated fair values		$ 19.6
Estimated weighted average useful lives (In years)		5 years
HelloSign Inc. | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated fair values		$ 20.5
Estimated weighted average useful lives (In years)		4 years 10 months 24 days
HelloSign Inc. | Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated fair values		$ 4.5
Estimated weighted average useful lives (In years)		5 years

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 103.9	$ 81.3
Accumulated amortization	(55)	(47.8)
Intangible assets, net	48.9	33.5
Developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 37.5	26
Developed technology | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (In years)	3 years 8 months 12 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 28.6	20.5
Customer relationships | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (In years)	3 years 9 months 18 days
Software
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 9	12.8
Software | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (In years)	9 months 18 days
Patents
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 14.8	9
Patents | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (In years)	6 years 2 months 12 days
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 5.6	4.6
Trademarks and trade names | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (In years)	3 years 1 month 6 days
Licenses
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 4.6	4.6
Assembled workforce in asset acquisitions
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	3	3
Other
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 0.8	$ 0.8
Other | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (In years)	4 years 2 months 12 days

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 4.1	$ 3.5	$ 7.2	$ 7

Intangible Assets - Schedule _2

Intangible Assets - Schedule of Future Amortization Expense (Details) $ in Millions	Jun. 30, 2021USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Remaining six months of Fiscal 2021	$ 7.9
2022	12.8
2023	12.2
2024	7.9
2025	6
Thereafter	2.1
Total	$ 48.9

Goodwill (Details)

Goodwill (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Balance at December 31, 2020	$ 236,900,000
DocSend acquisition	110,100,000
Effect of foreign currency translation	(200,000)
Balance at June 30, 2021	346,800,000	$ 236,900,000
Goodwill impairment	$ 0	$ 0

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility (Details) - Credit And Guarantee Agreement - USD ($)	Apr. 30, 2017	Feb. 28, 2021	Apr. 30, 2019	Jun. 30, 2021	Feb. 28, 2018
Revolving Credit Facility
Line of Credit Facility [Line Items]
Unused capacity, commitment fee (percent)	0.20%
Letter of Credit
Line of Credit Facility [Line Items]
Commitment fee (percent)	1.375%
Fronting fee (percent)	0.125%
Line of Credit
Line of Credit Facility [Line Items]
Covenant terms, minimum liquidity balance				$ 100,000,000
Line of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 600,000,000	$ 500,000,000			$ 725,000,000
Debt issuance fees	$ 2,600,000	1,700,000
Debt instrument, term			5 years
Line of credit facility, accordion feature, increase limit		250,000,000
Write off of deferred debt issuance cost		$ 200,000
Aggregate letters of credit outstanding amount				52,400,000
Remaining borrowing capacity				$ 447,600,000
Line of Credit | Revolving Credit Facility | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	1.375%
Line of Credit | Revolving Credit Facility | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	0.375%
Line of Credit | Letter of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity					$ 187,500,000

Debt - Convertible Senior Notes

Debt - Convertible Senior Notes (Details) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)$ / shares	Mar. 31, 2021USD ($)	Jun. 30, 2021USD ($)day$ / shares	Jun. 30, 2020USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of convertible senior notes	$ 1,400		$ 1,389.1	$ 0
Convertible Scenario One
Debt Instrument [Line Items]
Convertible debt, threshold trading days | day			20
Convertible debt, threshold consecutive trading days | day			30
Convertible debt, threshold percentage of stock price trigger			130.00%
Convertible Scenario Two
Debt Instrument [Line Items]
Convertible debt, threshold trading days | day			5
Convertible debt, threshold consecutive trading days | day			5
Convertible debt, threshold percentage of stock price trigger			98.00%
Redemption Scenario
Debt Instrument [Line Items]
Convertible debt, threshold trading days | day			20
Convertible debt, threshold consecutive trading days | day			30
Convertible debt, threshold percentage of stock price trigger			130.00%
Convertible Debt | Redemption Scenario
Debt Instrument [Line Items]
Convertible debt, redemption percentage			100.00%
Convertible Debt | Fundamental Change
Debt Instrument [Line Items]
Convertible debt, redemption percentage			100.00%
2026 Convertible Notes
Debt Instrument [Line Items]
Convertible debt, conversion rate			0.0261458
Convertible debt, conversion rate (in dollars per share) | $ / shares	$ 38.25		$ 38.25
Interest expense	$ 0.6		$ 0.8
2026 Convertible Notes | Maximum
Debt Instrument [Line Items]
Convertible debt, conversion rate			0.0431406
2026 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Proceeds from issuance of convertible senior notes		$ 695.8
Debt issuance costs	$ 11		$ 11
Debt instrument, term			5 years
Effective interest rate	0.32%		0.32%
2028 Convertible Notes
Debt Instrument [Line Items]
Convertible debt, conversion rate			0.0282889
Convertible debt, conversion rate (in dollars per share) | $ / shares	$ 35.35		$ 35.35
Interest expense	$ 0.3		$ 0.5
2028 Convertible Notes | Maximum
Debt Instrument [Line Items]
Convertible debt, conversion rate			0.0431406
2028 Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Proceeds from issuance of convertible senior notes		$ 693.3
Debt issuance costs	$ 11		$ 11
Debt instrument, term			7 years
Effective interest rate	0.22%		0.22%

Debt - Schedule of Convertible

Debt - Schedule of Convertible Notes (Details) $ in Millions	Jun. 30, 2021USD ($)
Debt Instrument [Line Items]
Principal balance	$ 1,389.1
Convertible Debt
Debt Instrument [Line Items]
Principal balance	1,389.1
Unamortized issuance costs	(20.7)
Carrying value, net	1,368.4
Convertible Debt | 2026 Convertible Notes
Debt Instrument [Line Items]
Principal balance	695.8
Unamortized issuance costs	(10.3)
Carrying value, net	685.5
Convertible Debt | 2028 Convertible Notes
Debt Instrument [Line Items]
Principal balance	693.3
Unamortized issuance costs	(10.4)
Carrying value, net	$ 682.9

Debt - Long Term Debt Maturitie

Debt - Long Term Debt Maturities (Details) $ in Millions	Jun. 30, 2021USD ($)
Debt Disclosure [Abstract]
July 1, 2021 through December 31, 2021	$ 0
2022	0
2023	0
2024	0
2025	0
2026	695.8
Thereafter	693.3
Total	$ 1,389.1

Debt - Convertible Note Hedges

Debt - Convertible Note Hedges and Warrants (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Derivative [Line Items]
Proceeds from sale of warrants in connection with issuance of convertible senior notes	$ 202.9	$ 0
2026 Convertible Notes
Derivative [Line Items]
Convertible debt, conversion rate (in dollars per share)	$ 38.25
Convertible debt, effective conversion rate (in dollars per share)	46.36
2028 Convertible Notes
Derivative [Line Items]
Convertible debt, conversion rate (in dollars per share)	35.35
Convertible debt, effective conversion rate (in dollars per share)	$ 46.36
2026 Warrants
Derivative [Line Items]
Number of shares covered by warrant (in shares)	18.1
Warrant price (in dollars per share)	$ 46.36
2028 Warrants
Derivative [Line Items]
Number of shares covered by warrant (in shares)	20.1
Warrant price (in dollars per share)	$ 46.36
2026 Notes Hedge
Derivative [Line Items]
Convertible note hedge, number of shares covered by hedge (in shares)	18.2
Convertible note hedge, strike price (in dollars per share)	$ 38.25
2028 Notes Hedge
Derivative [Line Items]
Convertible note hedge, number of shares covered by hedge (in shares)	19.6
Convertible note hedge, strike price (in dollars per share)	$ 35.35
Convertible Note Hedge
Derivative [Line Items]
Cost of note hedge transaction	$ 265.3

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Lease, renewal term	5 years				5 years
Sublease income	$ 4,000,000			$ 1,700,000	$ 7,900,000	$ 3,500,000
Minimum obligations				842,900,000		842,900,000
Tenant improvements				$ 75,000,000		75,000,000
Tenant improvement allowance reimbursement	0				1,600,000	$ 16,600,000
Lease impairment charges		$ 17,300,000	$ 398,200,000		17,300,000
Operating leases, not yet commenced, value	108,600,000				108,600,000
Sublease commitment not yet commenced, value	$ 16,900,000				$ 16,900,000
Sublease commitment, not yet commenced, term of contract	10 years				10 years
Minimum
Lessee, Lease, Description [Line Items]
Lease, remaining lease term	1 year				1 year
Operating sublease, term					1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease, remaining lease term	15 years				15 years
Operating sublease, term					12 years
Operating leases, not yet commenced, term of contract	15 years				15 years
Line of Credit | Letter of Credit | Corporate Headquarters Lease
Lessee, Lease, Description [Line Items]
Letter of credit	$ 34,200,000				$ 34,200,000

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) $ in Millions	Jun. 30, 2021USD ($)
Operating leases
2021 (excluding the six months ended June 30, 2021)	$ 60.8
2022	118.5
2023	102.7
2024	92
2025	86.9
Thereafter	566.2
Total future minimum lease payments	1,027.1
Less imputed interest	(208.8)
Less tenant improvement receivables	(8)
Operating lease, liability	810.3
Finance leases
2021 (excluding the six months ended June 30, 2021)	65
2022	110.4
2023	77.3
2024	42.2
2025	5
Thereafter	0
Total future minimum lease payments	299.9
Less imputed interest	(12)
Less tenant improvement receivables	0
Finance lease, liability	$ 287.9

Leases - Future Subtenant Payme

Leases - Future Subtenant Payments Receivable (Details) $ in Millions	Jun. 30, 2021USD ($)
Leases [Abstract]
2021 (excluding the six months ended June 30, 2021)	$ 8.5
2022	20.9
2023	12.3
2024	11.5
2025	11
Thereafter	67.5
Total future sublease rent payments	131.7
Less sub-tenant incentive	(10.5)
Total future sublease rent payments, net	$ 121.2

Commitments and Contingencies (

Commitments and Contingencies (Details) - lawsuit	Oct. 04, 2019	Jun. 30, 2021
Loss Contingencies [Line Items]
Number of pending claims		6
Class Action Lawsuits Filed in the State of California, San Mateo County
Loss Contingencies [Line Items]
Number of pending claims		4
Class Action Lawsuits Filed in the U.S. District Court
Loss Contingencies [Line Items]
Number of claims filed	2

Accrued and Other Current Lia_3

Accrued and Other Current Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Non-income taxes payable	$ 81.6	$ 85.9
Accrued legal and other external fees	28.2	23.4
Other accrued and current liabilities	48.9	47.4
Total accrued and other current liabilities	$ 158.7	$ 156.7

Stockholders' (Deficit) Equit_2

Stockholders' (Deficit) Equity - Common Stock, Convertible Preferred Stock, Preferred Stock Narrative (Details)	1 Months Ended	3 Months Ended	6 Months Ended
	Dec. 31, 2017shares	Jun. 30, 2020shares	Jun. 30, 2021vote$ / sharesshares	Jun. 30, 2020shares	Dec. 31, 2020shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)			240,000,000
Restricted Stock
Class of Stock [Line Items]
Shares granted (in shares)			12,600,000
Co-Founder Grants | Restricted Stock
Class of Stock [Line Items]
Shares granted (in shares)	14,700,000
Class A common stock
Class of Stock [Line Items]
Votes per share | vote			1
Common stock, shares authorized (in shares)			2,400,000,000
Common stock, par value (in dollars per share) | $ / shares			$ 0.00001
Common stock, shares issued (in shares)			303,400,000		322,300,000
Common stock, shares outstanding (in shares)			303,400,000		322,300,000
Class B common stock
Class of Stock [Line Items]
Votes per share | vote			10
Shares converted in conversion (in shares)		53,500,000	300,000	63,400,000
Common stock, shares authorized (in shares)			475,000,000
Common stock, par value (in dollars per share) | $ / shares			$ 0.00001
Common stock, shares issued (in shares)			83,200,000		83,500,000
Common stock, shares outstanding (in shares)			83,200,000		83,500,000
Class C common stock
Class of Stock [Line Items]
Votes per share | vote			0
Common stock, shares authorized (in shares)			800,000,000
Common stock, par value (in dollars per share) | $ / shares			$ 0.00001
Common stock, shares issued (in shares)			0		0
Common stock, shares outstanding (in shares)			0		0

Stockholders' (Deficit) Equit_3

Stockholders' (Deficit) Equity - Stock Repurchase Program (Details) - USD ($) shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Feb. 28, 2021	Feb. 29, 2020
Class of Stock [Line Items]
Stock repurchase program, authorized amount	$ 600,000,000		$ 600,000,000		$ 1,000,000,000	$ 600,000,000
Stock repurchased and retired during period (in shares)	5.5	3.7	24.1	7.4
Stock repurchased and retired during period, aggregate purchase price	$ 150,800,000	$ 75,800,000	$ 582,700,000	$ 139,800,000
Convertible Debt
Class of Stock [Line Items]
Stock repurchased and retired during period (in shares)			8.6
Stock repurchased and retired during period, aggregate purchase price	$ 200,000,000

Stockholders' (Deficit) Equit_4

Stockholders' (Deficit) Equity - Equity Incentive Plans Narrative (Details) - USD ($) shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued and outstanding (in shares)	1.1	1.3
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Remaining unamortized stock-based compensation	$ 665.7
Unamortized stock-based compensation, requisite service period	2 years 9 months 18 days
2018 Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Vesting period	4 years
Equity Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued and outstanding (in shares)	31.7
Shares available for grant (in shares)	96.2

Stockholders' (Deficit) Equit_5

Stockholders' (Deficit) Equity - Schedule of Stock Option and Restricted Stock Activity (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	Mar. 22, 2021	Jun. 30, 2021	Dec. 31, 2020
Number of shares available for issuance under the Plans
Beginning balance (in shares)		78.5
Additional shares authorized (in shares)		20.3
Stock options assumed (in shares)		0.4
Options and restricted stock units and awards canceled (in shares)		7.2
Shares repurchased for tax withholdings on release of restricted stock units and awards (in shares)		2.5
Options and restricted stock units and awards granted (in shares)		(12.6)
Ending balance (in shares)		96.3	78.5
Options Outstanding, Number of shares outstanding under the Plans
Beginning balance (in shares)		1.3
Stock options assumed (in shares)		0.4
Options exercised and restricted stock units and awards released (in shares)		(0.5)
Options and restricted stock units and awards canceled (in shares)		(0.1)
Ending balance (in shares)		1.1	1.3
Vested at end of period (in shares)		0.6
Unvested at end of period (in shares)		0.5
Options Outstanding, Weighted- average exercise price per share
Beginning balance (in dollars per share)		$ 13.73
Stock options assumed (in dollars per share)		2.17
Options exercised and restricted stock units and awards released (in dollars per share)		10.03
Options and restricted stock units and awards canceled (in dollars per share)		14.91
Ending balance (in dollars per share)		11.39	$ 13.73
Vested at end of period (in dollars per share)		18.79
Unvested at end of period (in dollars per shares)		$ 3.54
Options Outstanding, Weighted- average remaining contractual term (In years)
Weighted-average contractual term		6 years 1 month 6 days	5 years 8 months 12 days
Vested at end of period		4 years 6 months
Options outstanding, aggregate intrinsic value		$ 18,970	$ 11,350
Vested at end of period, aggregate intrinsic value		6,000
Unvested at end of period, aggregate intrinsic value		$ 12,970
DocSend Inc.
Options Outstanding, Number of shares outstanding under the Plans
Stock options assumed (in shares)	0.4
Restricted Stock
Restricted Stock Outstanding, Number of Plan shares outstanding
Beginning balance (in shares)		31.9
Options exercised and restricted stock units and awards released (in shares)		(6.9)
Options and restricted stock units and awards canceled (in shares)		(7.1)
Options and restricted stock units and awards granted (in shares)		12.6
Ending balance (in shares)		30.5	31.9
Vested at end of period (in shares)		0
Unvested at end of period (in shares)		30.5	31.9
Restricted Stock Outstanding, Weighted- average grant date fair value per share
Beginning balance (in dollars per share)		$ 19.79
Stock options assumed (in dollars per share)		0
Options exercised and restricted stock units and awards released (in dollars per share)		20.43
Options and restricted stock units and awards canceled (in dollars per share)		20.44
Shares repurchased for tax withholdings on release of restricted stock units and awards (in dollars per share)		20.36
Options and restricted stock units and awards granted (in dollars per share)		25.63
Ending balance (in dollars per share)		21.90	$ 19.79
Vested at end of period (in dollars per share)		0
Unvested at end of period (in dollars per share)		21.90	$ 19.79
Restricted Stock | DocSend Inc.
Restricted Stock Outstanding, Weighted- average grant date fair value per share
Stock options assumed (in dollars per share)		$ 26.86
Fair value of awards assumed in acquisition		$ 400

Stockholders' (Deficit) Equit_6

Stockholders' (Deficit) Equity - Schedule of Pre-Tax Intrinsic Value (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Stockholders' Equity Note [Abstract]
Intrinsic value of options exercised	$ 4	$ 3	$ 8.7	$ 4.8

Stockholders' (Deficit) Equit_7

Stockholders' (Deficit) Equity - Assumed Stock Options Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Mar. 22, 2021	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options assumed (in shares)		0.4
Dividend yield		0.00%
DocSend Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options assumed (in shares)	0.4
Weighted average grant date fair value of stock options assumed (in dollars per share)	$ 25.28
Fair value of options assumed in business combination	$ 9.3
Post combination, stock-based compensation expense	$ 8.1

Stockholders' (Deficit) Equit_8

Stockholders' (Deficit) Equity - Fair Value of Stock Option Assumptions Used (Details)	Mar. 22, 2021	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield		0.00%
Employee Stock Option | DocSend Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	47.00%
Risk-free interest rate, minimum	0.15%
Risk-free interest rate, maximum	1.29%
Dividend yield	0.00%
Employee Stock Option | Minimum | DocSend Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	2 years
Employee Stock Option | Maximum | DocSend Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 9 months 18 days

Stockholders' (Deficit) Equit_9

Stockholders' (Deficit) Equity - Co-Founder Grants (Details) shares in Millions, $ in Millions	Mar. 19, 2020USD ($)shares	Dec. 31, 2017trancheshares	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)shares	Jun. 30, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reversal of stock based compensation expense | $	$ 23.8
Reversal of stock based compensation expense previously recognized | $	$ 21.5
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)					12.6
Shares forfeited (in shares)					7.1
Co-Founder Grants | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		14.7
Expiration period		10 years
Number of tranches | tranche		9
Shares forfeited (in shares)	4.4
Stock-based compensation related to the Co-Founder Grants | $			$ 3.6	$ 6.1	$ 7.2	$ 12.2
Remaining unamortized stock-based compensation | $			$ 28.5		$ 28.5
Co-Founder Grants | Restricted Stock | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Co-Founder Grants | Restricted Stock | Tranche One | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage vested maximum		20.00%
Co-Founder Grants | Chief Executive Officer | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		10.3
Co-Founder Grants | Director | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		4.4
Shares forfeited (in shares)	4.4

Net Income Per Share - Schedule

Net Income Per Share - Schedule of EPS (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator
Net loss attributable to common stockholders	$ 88	$ 17.5	$ 135.6	$ 56.8
Denominator
Weighted-average number of common shares outstanding used in computing basic net income per share (in shares)	388.4	414.1	393.3	415.7
Net income per common share, basic (in dollars per share)	$ 0.23	$ 0.04	$ 0.34	$ 0.14
Numerator
Net income	$ 88	$ 17.5	$ 135.6	$ 56.8
Diluted net income per share:
Weighted-average number of common shares outstanding used in computing basic net income (loss) per share (in shares)	388.4	414.1	393.3	415.7
Weighted-average number of common shares outstanding used in computing diluted net income per share (in shares)	397	420.5	401.2	419.7
Diluted net income per share (in dollars per share)	$ 0.22	$ 0.04	$ 0.34	$ 0.14
Class A
Numerator
Net loss attributable to common stockholders	$ 69.1	$ 11.9	$ 106.9	$ 37
Denominator
Weighted-average number of common shares outstanding used in computing basic net income per share (in shares)	305.3	281.5	310	270.7
Net income per common share, basic (in dollars per share)	$ 0.23	$ 0.04	$ 0.34	$ 0.14
Numerator
Net income	$ 69.1	$ 11.9	$ 106.9	$ 37
Reallocation of net income as a result of conversion of Class B to Class A common stock	18.8	5.6	28.7	19.8
Reallocation of net income to Class B common stock	0	0	0	0
Net income attributable to common stockholders for diluted EPS	$ 87.9	$ 17.5	$ 135.6	$ 56.8
Diluted net income per share:
Weighted-average number of common shares outstanding used in computing basic net income (loss) per share (in shares)	305.3	281.5	310	270.7
Weighted-average effect of dilutive restricted stock units and awards and employee stock options (in shares)	8.5	6	7.9	3.6
Conversion of Class B to Class A common stock (in shares)	83.2	132.7	83.3	145
Weighted-average number of common shares outstanding used in computing diluted net income per share (in shares)	397	420.2	401.2	419.3
Diluted net income per share (in dollars per share)	$ 0.22	$ 0.04	$ 0.34	$ 0.14
Class B
Numerator
Net loss attributable to common stockholders	$ 18.8	$ 5.6	$ 28.7	$ 19.8
Denominator
Weighted-average number of common shares outstanding used in computing basic net income per share (in shares)	83.2	132.7	83.3	145
Net income per common share, basic (in dollars per share)	$ 0.23	$ 0.04	$ 0.34	$ 0.14
Numerator
Net income	$ 18.8	$ 5.6	$ 28.7	$ 19.8
Reallocation of net income as a result of conversion of Class B to Class A common stock	0	0	0	0
Reallocation of net income to Class B common stock	(0.4)	(0.1)	(0.5)	(0.1)
Net income attributable to common stockholders for diluted EPS	$ 18.4	$ 5.5	$ 28.2	$ 19.7
Diluted net income per share:
Weighted-average number of common shares outstanding used in computing basic net income (loss) per share (in shares)	83.2	132.7	83.3	145
Weighted-average effect of dilutive restricted stock units and awards and employee stock options (in shares)	0.1	0.3	0.1	0.3
Conversion of Class B to Class A common stock (in shares)	0	0	0	0
Weighted-average number of common shares outstanding used in computing diluted net income per share (in shares)	83.3	133	83.4	145.3
Diluted net income per share (in dollars per share)	$ 0.22	$ 0.04	$ 0.34	$ 0.14

Net Income Per Share - Schedu_2

Net Income Per Share - Schedule of Potentially Dilutive Securities Excluded from Computation (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	86.2	20.5	67.5	24.2
Restricted stock units and awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.2	9.4	4.9	11.1
Options to purchase shares of common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.1	0.8	0.3	0.9
Co-Founder Grants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	10.3	10.3	10.3	12.2
Convertible Senior Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	37.8	0	26	0
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	37.8	0	26	0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax expense	$ 3	$ 4.4	$ 1.8	$ 4.9
Increase in unrecognized tax benefits	4.5		8.6
Unrecognized tax benefits that would impact effective tax rate			1.5
Decrease in unrecognized tax benefits for expiration of statute of limitations	$ 0.8		$ 0.8

Geographic Areas (Details)

Geographic Areas (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Property and equipment, net	$ 342.9		$ 342.9		$ 338.7
Revenue	530.6	$ 467.4	1,042.2	$ 922.4
United States
Segment Reporting Information [Line Items]
Property and equipment, net	339.1		339.1		334.2
Revenue	277.3	244.6	544.6	480.2
International
Segment Reporting Information [Line Items]
Property and equipment, net	3.8		3.8		$ 4.5
Revenue	$ 253.3	$ 222.8	$ 497.6	$ 442.2