10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BOOKING HOLDINGS INC. | |||
Ticker: BKNG Fiscal Year: 2019 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 26, 2020) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Total revenues | $ 15,066 | 14,527 | 12,681 |
| Cost of revenues | 242 | ||
| Gross profit | 12,439 | ||
| Operating expenses: | |||
| Performance marketing | 4,419 | 4,447 | 4,161 |
| Brand marketing | 548 | 509 | 435 |
| Sales and other expenses | 955 | 830 | 517 |
| Personnel, including stock-based compensation of $308, $317 and $261, respectively | 2,248 | 2,042 | 1,660 |
| General and administrative | 797 | 699 | 576 |
| Information technology | 285 | 233 | 189 |
| Depreciation and amortization | 469 | 426 | 363 |
| Total operating expenses | 9,721 | 9,186 | 7,901 |
| Operating income | 5,345 | 5,341 | 4,538 |
| Other income (expense): | |||
| Interest income | 152 | 187 | 157 |
| Interest expense | (266) | (269) | (254) |
| Net unrealized gains (losses) on marketable equity securities | 745 | (367) | 0 |
| Foreign currency transactions and other | (18) | (57) | (42) |
| Total other income (expense) | 613 | (506) | (139) |
| Earnings before income taxes | 5,958 | 4,835 | 4,399 |
| Income tax expense | 1,093 | 837 | 2,058 |
| Net income | 4,865 | 3,998 | 2,341 |
| Net income applicable to common stockholders per basic common share | 112.93 | 84.26 | 47.78 |
| Weighted-average number of basic common shares outstanding (in 000's) | 43,082 | 47,446 | 48,994 |
| Net income applicable to common stockholders per diluted common share | 111.82 | 83.26 | 46.86 |
| Weighted-average number of diluted common shares outstanding (in 000's) | 43,509 | 48,017 | 49,954 |
| Product and Service | |||
| Agency Revenue | |||
| Total revenues | 10,117 | 10,480 | 9,714 |
| Merchant Revenue | |||
| Total revenues | 3,830 | 2,987 | 2,133 |
| Advertising and other revenues | |||
| Total revenues | 1,119 | 1,060 | 834 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BOOKING HOLDINGS INC. | |||
Ticker: BKNG Fiscal Year: 2019 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 26, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Other comprehensive income (loss), net of tax | |||
| Net income | $ 4,865 | 3,998 | 2,341 |
| Foreign currency translation adjustments, net of tax | (10) | (114) | 297 |
| Net unrealized gains (losses) on available-for-sale securities, net of tax | 135 | (199) | 76 |
| Total other comprehensive income (loss), net of tax | 125 | (313) | 373 |
| Comprehensive income | 4,990 | 3,685 | 2,714 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BOOKING HOLDINGS INC. | |||
Ticker: BKNG Fiscal Year: 2019 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 26, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net income | $ 4,865 | 3,998 | 2,341 |
| OPERATING ACTIVITIES: | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation, Depletion and Amortization | 469 | 426 | 363 |
| Provision for uncollectible accounts and chargebacks | 138 | 163 | 62 |
| Deferred income tax expense (benefit) | 122 | (150) | (32) |
| Net unrealized (gains) losses on marketable equity securities | (745) | 367 | 0 |
| Stock-based compensation expense and other stock-based payments | 325 | 331 | 261 |
| Amortization of debt discount and debt issuance costs | 58 | 59 | 79 |
| Operating lease amortization | 172 | 0 | 0 |
| Other | 2 | 19 | 10 |
| Changes in assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable | (323) | (319) | (270) |
| Prepaid expenses and other current assets | (263) | (201) | (124) |
| Accounts payable, accrued expenses and other current liabilities | 480 | 635 | 687 |
| Long-term U.S. transition tax liability | (36) | 40 | 1,251 |
| Other long-term assets and liabilities | (399) | (30) | 34 |
| Net cash provided by operating activities | 4,865 | 5,338 | 4,662 |
| INVESTING ACTIVITIES: | |||
| Purchase of investments | (672) | (2,686) | (6,941) |
| Proceeds from sale and maturity of investments | 8,099 | 5,616 | 3,580 |
| Additions to property and equipment | (368) | (442) | (288) |
| Acquisitions and other investments, net of cash acquired | (9) | (273) | (553) |
| Net cash provided by (used in) investing activities | 7,050 | 2,215 | (4,202) |
| FINANCING ACTIVITIES: | |||
| Proceeds from revolving credit facility and short-term borrowings | 400 | 25 | 0 |
| Repayments of revolving credit facility and short-term borrowings | (425) | 0 | 0 |
| Proceeds from the issuance of long-term debt | 0 | 2,045 | |
| Payments for conversion of senior notes | 0 | (1,487) | (286) |
| Payments for repurchase of common stock | (8,187) | (5,971) | (1,828) |
| Other financing activities | (8) | 2 | (10) |
| Net cash used in financing activities | (8,220) | (7,431) | (79) |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents | (8) | (40) | 100 |
| Net increase in cash and cash equivalents and restricted cash and cash equivalents | 3,687 | 82 | 481 |
| Total cash and cash equivalents and restricted cash and cash equivalents, beginning of period | 2,645 | 2,563 | |
| Total cash and cash equivalents and restricted cash and cash equivalents, end of period | 6,332 | 2,645 | 2,563 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | |||
| Cash paid during the period for income taxes | 1,074 | 1,169 | 702 |
| Cash paid during the period for interest | 221 | 219 | 155 |
| Non-cash operating and financing activity for an acquisition (see Note 20) | 0 | 51 | 0 |
| Non-cash investing and financing activity for an acquisition (see Note 20) | 0 | 59 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BOOKING HOLDINGS INC. | ||
Ticker: BKNG Fiscal Year: 2019 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 26, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 6,312 | 2,624 |
| Short-term investments in marketable securities | 998 | 3,660 |
| Accounts receivable, net of allowance for doubtful accounts of $49 and $51, respectively | 1,680 | 1,523 |
| Prepaid expenses and other current assets | 843 | 600 |
| Total current assets | 9,833 | 8,407 |
| Property and equipment, net | 738 | 656 |
| Operating lease assets | 620 | 0 |
| Intangible assets, net | 1,954 | 2,125 |
| Goodwill | 2,913 | 2,910 |
| Long-term investments | 4,477 | 8,408 |
| Other assets | 867 | 181 |
| Total assets | 21,402 | 22,687 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 1,239 | 1,134 |
| Accrued expenses and other current liabilities | 1,578 | 1,399 |
| Deferred merchant bookings | 1,561 | 1,022 |
| Convertible debt | 988 | 0 |
| Total current liabilities | 5,366 | 3,555 |
| Deferred income taxes | 876 | 370 |
| Operating lease liabilities | 462 | 0 |
| Long-term U.S. transition tax liability | 1,021 | 1,166 |
| Other long-term liabilities | 104 | 162 |
| Long-term debt | 7,640 | 8,649 |
| Total liabilities | 15,469 | 13,902 |
| Commitments and Contingencies | ||
| Stockholders' equity: | ||
| Common stock, $0.008 par value, Authorized shares: 1,000,000,000 Issued shares: 63,179,471 and 62,948,762, respectively | 0 | 0 |
| Treasury stock, 21,762,070 and 17,317,126 shares, respectively | (22,864) | (14,711) |
| Additional paid-in capital | 5,756 | 5,445 |
| Retained earnings | 23,232 | 18,367 |
| Accumulated other comprehensive loss | (191) | (316) |
| Total stockholders' equity | 5,933 | 8,785 |
| Total liabilities and stockholders' equity | 21,402 | 22,687 |
| External Links | |
| BOOKING HOLDINGS INC. (BKNG) Fiscal Year 2019 | |
| 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 |