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Income Statement Cash Flow Balance Sheet All Statements
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10-K.Info (Beta Test)
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BOOKING HOLDINGS INC.

Ticker: BKNG   Fiscal Year: 2011

CONSOLIDATED STATEMENTS OF OPERATIONS

Period Ending Dec 31, 2011 10-K (Filed: Feb 27, 2012)

(In Thousands)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2011Dec 31, 2010Dec 31, 2009
Merchant revenues
$
2,004,432
1,691,6401,447,576
Agency revenues2,339,2531,380,603868,395
Other revenues11,92512,66222,241
Total revenues4,355,6103,084,9052,338,212
 
Cost of revenues1,275,7301,175,9341,077,449
Gross profit3,079,8801,908,9711,260,763
 
Operating expenses:
Advertising - Online919,214552,140365,381
Advertising - Offline35,47035,71436,270
Sales and marketing162,690116,30381,238
Personnel, including stock-based compensation of $65,724, $68,200, and $40,671, respectively352,295270,071180,152
General and administrative123,65281,18568,555
Information technology33,81320,99819,139
Depreciation and amortization53,82445,76339,193
Total operating expenses1,680,9581,122,174789,928
 
Operating income1,398,922786,797470,835
 
Other income (expense):
Interest income8,1193,8572,223
Interest expense(31,721)(29,944)(24,084)
Foreign currency transactions and other(7,526)(14,427)(6,672)
Total other income (expense)(31,128)(40,514)(28,533)
 
Earnings before income taxes and equity in income of investees1,367,794746,283442,302
 
Income tax (expense) benefit(308,663)(218,141)47,168
Equity in income of investees002
Net income1,059,131528,142489,472
 
Less: net income attributable to noncontrolling interests2,7606010
Net income applicable to common stockholders1,056,371527,541489,472
 
Net income applicable to common stockholders per basic common share (in dollars per share)21.2711.0011.54
Weighted average number of basic common shares outstanding (in shares)49,65447,95542,406
Net income applicable to common stockholders per diluted common share (in dollars per share)20.6310.359.88
Weighted average number of diluted common shares outstanding (in shares)51,21150,98849,522
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BOOKING HOLDINGS INC.

Ticker: BKNG   Fiscal Year: 2011

CONSOLIDATED STATEMENTS OF CASH FLOWS

Period Ending Dec 31, 2011 10-K (Filed: Feb 27, 2012)

(In Thousands, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2011Dec 31, 2010Dec 31, 2009
OPERATING ACTIVITIES:
Net income
$
1,059,131
528,142489,472
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation20,64816,20914,491
Amortization33,17634,25524,702
Provision for uncollectible accounts, net9,3317,1023,227
Reversal of valuation allowances on deferred tax assets00(183,272)
Other deferred income taxes44,74737,54030,990
Stock-based compensation and other stock based payments66,19468,39640,671
Amortization of debt issuance costs2,3603,3322,465
Amortization of debt discount21,41420,11018,203
Loss on early extinguishment of debt3211,3341,048
Equity in income of investees00(2)
Changes in assets and liabilities:
Accounts receivable(125,793)(29,275)(22,767)
Prepaid expenses and other current assets12,213(22,373)(979)
Accounts payable, accrued expenses and other current liabilities210,32584,75086,792
Other(11,966)17,7754,624
Net cash provided by operating activities1,341,812777,297509,665
 
INVESTING ACTIVITIES:
Purchase of investments(3,005,397)(1,813,032)(922,163)
Proceeds from sale of investments2,229,5631,071,669432,184
Additions to property and equipment(46,833)(22,593)(15,106)
Acquisitions and other equity investments, net of cash acquired(68,192)(112,405)(1,500)
Proceeds from redemption of equity investment in pricelinemortgage.com008,921
Proceeds from foreign currency contracts31,04544,5640
Payments on foreign currency contracts(42,032)(9,561)(5,025)
Change in restricted cash(2,922)2601,229
Net cash used in investing activities(904,768)(841,098)(501,460)
 
FINANCING ACTIVITIES:
Proceeds from the issuance of convertible senior notes0575,0000
Payment of debt issuance costs0(13,334)0
Payments related to conversion of senior notes(213)(295,401)(197,122)
Repurchase of common stock(163,171)(129,445)(17,415)
Payments to purchase subsidiary shares from noncontrolling interests(12,986)00
Proceeds from the sale of subsidiary shares to noncontrolling interests04,3110
Proceeds from exercise of stock options4,30225,75143,428
Proceeds from the termination of conversion spread hedges042,9840
Excess tax benefit from stock-based compensation21,0413,0912,149
Net cash (used in) provided by financing activities(151,027)212,957(168,960)
 
Effect of exchange rate changes on cash and cash equivalents(12,148)7,670(1,654)
Net increase (decrease) in cash and cash equivalents273,869156,826(162,409)
 
Cash and cash equivalents, beginning of period358,967202,141
Cash and cash equivalents, end of period632,836358,967202,141
 
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the period for income taxes232,762169,32095,512
Cash paid during the period for interest7,5734,9014,448
Non-cash fair value increase for redeemable noncontrolling interests91,7437,8760
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BOOKING HOLDINGS INC.

Ticker: BKNG   Fiscal Year: 2011

CONSOLIDATED BALANCE SHEETS

Period Ending Dec 31, 2011 10-K (Filed: Feb 27, 2012)

(In Thousands, except shares in actual)
 As ofAs of
 Dec 31, 2011Dec 31, 2010
ASSETS
Current assets:
Cash and cash equivalents
$
632,836
358,967
Restricted cash3,7711,050
Short-term investments2,024,8271,303,251
Accounts receivable, net of allowance for doubtful accounts of $6,103 and $6,353, respectively264,453162,426
Prepaid expenses and other current assets104,20261,211
Deferred income taxes36,75570,559
Total current assets3,066,8441,957,464
 
Property and equipment, net64,32239,739
Intangible assets, net200,151232,030
Goodwill504,784510,894
Deferred income taxes111,080151,408
Other assets23,49014,418
Total assets3,970,6712,905,953
 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable146,86790,311
Accrued expenses and other current liabilities222,134243,767
Deferred merchant bookings239,157136,915
Convertible debt (see Note 11)497,640175
Total current liabilities1,105,798471,168
 
Deferred income taxes46,99056,440
Other long-term liabilities39,18342,990
Convertible debt (See Note 11)0476,230
Total liabilities1,191,9711,046,828
 
Commitments and Contingencies (see Note 16)  
Redeemable noncontrolling interests (see Note 13)127,04545,751
Convertible debt (see Note 11)77,36038
Stockholders' equity:
Common stock, $0.008 par value, authorized 1,000,000,000 shares, 57,578,431 and 56,567,236 shares issued, respectively446438
Treasury stock, 7,779,645 and 7,421,128 shares, respectively(803,586)(640,415)
Additional paid-in capital2,431,2792,417,092
Accumulated earnings1,033,73869,110
Accumulated other comprehensive loss(87,582)(32,889)
Total stockholders' equity2,574,2951,813,336
 
Total liabilities and stockholders' equity3,970,6712,905,953
 
External Links 
BOOKING HOLDINGS INC. (BKNG) Fiscal Year 2011
Statements of 10-K in Excel https://www.sec.gov/.../Financial.xlxs
Complete 10-K in HTML https://www.sec.gov/.../10-K.html
Complete 10-K in XBRL https://www.sec.gov/.../10-K-xbrl.zip