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: 2020 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 24, 2021) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Total revenues | $ 6,796 | 15,066 | 14,527 |
| Operating expenses: | |||
| Marketing expenses | 2,179 | 4,967 | 4,956 |
| Sales and other expenses | 755 | 955 | 830 |
| Personnel, including stock-based compensation of $233, $308 and $317, respectively | 1,944 | 2,248 | 2,042 |
| General and administrative | 581 | 797 | 699 |
| Information technology | 299 | 285 | 233 |
| Depreciation and amortization | 458 | 469 | 426 |
| Restructuring and other exit costs | 149 | 0 | 0 |
| Impairment of goodwill | 1,062 | 0 | 0 |
| Total operating expenses | 7,427 | 9,721 | 9,186 |
| Operating (loss) income | (631) | 5,345 | 5,341 |
| Interest expense | (356) | (266) | (269) |
| Other income (expense), net | 1,554 | 879 | (237) |
| Earnings before income taxes | 567 | 5,958 | 4,835 |
| Income tax expense | 508 | 1,093 | 837 |
| Net income | 59 | 4,865 | 3,998 |
| Net income applicable to common stockholders per basic common share | 1.45 | 112.93 | 84.26 |
| Weighted-average number of basic common shares outstanding (in 000's) | 40,974 | 43,082 | 47,446 |
| Net income applicable to common stockholders per diluted common share | 1.44 | 111.82 | 83.26 |
| Weighted-average number of diluted common shares outstanding (in 000's) | 41,160 | 43,509 | 48,017 |
| Product and Service | |||
| Agency revenues | |||
| Total revenues | 4,314 | 10,117 | 10,480 |
| Merchant revenues | |||
| Total revenues | 2,117 | 3,830 | 2,987 |
| Advertising and other revenues | |||
| Total revenues | 365 | 1,119 | 1,060 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BOOKING HOLDINGS INC. | |||
Ticker: BKNG Fiscal Year: 2020 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 24, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net income | $ 59 | 4,865 | 3,998 |
| Other comprehensive income (loss), net of tax | |||
| Foreign currency translation adjustments, net of tax | 50 | (10) | (114) |
| Net unrealized gains (losses) on available-for-sale securities, net of tax | 23 | 135 | (199) |
| Total other comprehensive income (loss), net of tax | 73 | 125 | (313) |
| Comprehensive income | 132 | 4,990 | 3,685 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BOOKING HOLDINGS INC. | |||
Ticker: BKNG Fiscal Year: 2020 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 24, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| OPERATING ACTIVITIES: | |||
| Net income | $ 59 | 4,865 | 3,998 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 458 | 469 | 426 |
| Provision for expected credit losses and chargebacks | 319 | 138 | 163 |
| Deferred income tax expense (benefit) | 213 | 122 | (150) |
| Net (gains) losses on marketable equity securities | (1,811) | (745) | 367 |
| Stock-based compensation expense and other stock-based payments | 255 | 325 | 331 |
| Amortization of debt discount and debt issuance costs | 64 | 58 | 59 |
| Operating lease amortization | 184 | 172 | 0 |
| Unrealized foreign currency transaction losses (gains) on Euro-denominated debt | 200 | (7) | 0 |
| Impairment of goodwill | 1,062 | 0 | 0 |
| Impairment of investment | 100 [1] | 0 | 0 |
| Other | 2 | 9 | 19 |
| Changes in assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable | 891 | (323) | (319) |
| Prepaid expenses and other current assets | 161 | (263) | (201) |
| Deferred merchant bookings and other current liabilities | (2,266) | 480 | 635 |
| Long-term assets and liabilities | 194 | (435) | 10 |
| Net cash provided by operating activities | 85 | 4,865 | 5,338 |
| INVESTING ACTIVITIES: | |||
| Purchase of investments | (74) | (672) | (2,686) |
| Proceeds from sale and maturity of investments | 2,997 | 8,099 | 5,616 |
| Additions to property and equipment | (286) | (368) | (442) |
| Acquisitions and other investments, net of cash acquired | 0 | (9) | (273) |
| Net cash provided by investing activities | 2,637 | 7,050 | 2,215 |
| FINANCING ACTIVITIES: | |||
| Proceeds from revolving credit facility and short-term borrowings | 0 | 400 | 25 |
| Repayments of revolving credit facility and short-term borrowings | 0 | (425) | 0 |
| Proceeds from the issuance of long-term debt | 4,108 | 0 | 0 |
| Payments for conversion of debt | (1,244) | 0 | (1,487) |
| Payments for repurchase of common stock | (1,303) | (8,187) | (5,971) |
| Other financing activities | (33) | (8) | 2 |
| Net cash provided by (used in) financing activities | 1,528 | (8,220) | (7,431) |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents | 0 | (8) | (40) |
| Net increase in cash and cash equivalents and restricted cash and cash equivalents | 4,250 | 3,687 | 82 |
| Total cash and cash equivalents and restricted cash and cash equivalents, beginning of period | 6,332 | 2,645 | |
| Total cash and cash equivalents and restricted cash and cash equivalents, end of period | 10,582 | 6,332 | 2,645 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | |||
| Cash paid during the period for income taxes (see Note 15) | 319 | 1,074 | 1,169 |
| Cash paid during the period for interest | 278 | 221 | 219 |
| Non-cash operating and financing activity for an acquisition (see Note 19) | 0 | 0 | 51 |
| Non-cash investing and financing activity for an acquisition (see Note 19) | 0 | 0 | 59 |
| [1] See Note 5 for additional information related to the net gains (losses) on marketable equity securities and impairment of investment. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BOOKING HOLDINGS INC. | ||
Ticker: BKNG Fiscal Year: 2020 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 24, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 10,562 | 6,312 |
| Short-term investments (Available-for-sale debt securities: Amortized cost of $500 and $998, respectively) | 501 | 998 |
| Accounts receivable, net (Allowance for expected credit losses of $166 and $49, respectively) | 529 | 1,680 |
| Prepaid expenses, net (Allowance for expected credit losses of $22 and $6, respectively) | 337 | 479 |
| Other current assets | 277 | 364 |
| Total current assets | 12,206 | 9,833 |
| Property and equipment, net | 756 | 738 |
| Operating lease assets | 529 | 620 |
| Intangible assets, net | 1,812 | 1,954 |
| Goodwill | 1,895 | 2,913 |
| Long-term investments (Includes available-for-sale debt securities: Amortized cost of $225 and $2,192, respectively) | 3,759 | 4,477 |
| Other assets, net (Allowance for expected credit losses of $33 at December 31, 2020) | 917 | 867 |
| Total assets | 21,874 | 21,402 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 735 | 1,239 |
| Accrued expenses and other current liabilities | 1,382 | 1,578 |
| Deferred merchant bookings | 323 | 1,561 |
| Convertible debt | 985 | 988 |
| Total current liabilities | 3,425 | 5,366 |
| Deferred income taxes | 1,127 | 876 |
| Operating lease liabilities | 366 | 462 |
| Long-term U.S. transition tax liability | 923 | 1,021 |
| Other long-term liabilities | 111 | 104 |
| Long-term debt | 11,029 | 7,640 |
| Total liabilities | 16,981 | 15,469 |
| Commitments and contingencies (see Note 16) | ||
| Stockholders' equity: | ||
| Common stock, $0.008 par value, Authorized shares: 1,000,000,000 Issued shares: 63,406,451 and 63,179,471, respectively | 0 | 0 |
| Treasury stock, 22,446,897 and 21,762,070 shares, respectively | (24,128) | (22,864) |
| Additional paid-in capital | 5,851 | 5,756 |
| Retained earnings | 23,288 | 23,232 |
| Accumulated other comprehensive loss | (118) | (191) |
| Total stockholders' equity | 4,893 | 5,933 |
| Total liabilities and stockholders' equity | 21,874 | 21,402 |
| External Links | |
| BOOKING HOLDINGS INC. (BKNG) Fiscal Year 2020 | |
| 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 |