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: 2021 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 23, 2022) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Total revenues | $ 10,958 | 6,796 | 15,066 |
| Operating expenses: | |||
| Marketing expenses | 3,801 | 2,179 | 4,967 |
| Sales and other expenses | 881 | 755 | 955 |
| Personnel, including stock-based compensation of $370, $233, and $308, respectively | 2,314 | 1,944 | 2,248 |
| General and administrative | 620 | 581 | 797 |
| Information technology | 412 | 299 | 285 |
| Depreciation and amortization | 421 | 458 | 469 |
| Restructuring and other exit costs | 13 | 149 | 0 |
| Impairment of goodwill | 0 | 1,062 | 0 |
| Total operating expenses | 8,462 | 7,427 | 9,721 |
| Operating income (loss) | 2,496 | (631) | 5,345 |
| Interest expense | (334) | (356) | (266) |
| Other income (expense), net | (697) | 1,554 | 879 |
| Income before income taxes | 1,465 | 567 | 5,958 |
| Income tax expense | 300 | 508 | 1,093 |
| Net income | 1,165 | 59 | 4,865 |
| Net income applicable to common stockholders per basic common share | 28.39 | 1.45 | 112.93 |
| Weighted-average number of basic common shares outstanding (in shares) | 41,042 | 40,974 | 43,082 |
| Net income applicable to common stockholders per diluted common share | 28.17 | 1.44 | 111.82 |
| Weighted-average number of diluted common shares outstanding (in shares) | 41,362 | 41,160 | 43,509 |
| Product and Service | |||
| Agency revenues | |||
| Total revenues | 6,663 | 4,314 | 10,117 |
| Merchant revenues | |||
| Total revenues | 3,696 | 2,117 | 3,830 |
| Advertising and other revenues | |||
| Total revenues | 599 | 365 | 1,119 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BOOKING HOLDINGS INC. | |||
Ticker: BKNG Fiscal Year: 2021 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 23, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net income | $ 1,165 | 59 | 4,865 |
| Other comprehensive (loss) income, net of tax | |||
| Foreign currency translation adjustments | (57) | 50 | (10) |
| Net unrealized gains on available-for-sale securities | 31 | 23 | 135 |
| Total other comprehensive (loss) income, net of tax | (26) | 73 | 125 |
| Comprehensive income | 1,139 | 132 | 4,990 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BOOKING HOLDINGS INC. | |||
Ticker: BKNG Fiscal Year: 2021 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 23, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| OPERATING ACTIVITIES: | |||
| Net income | $ 1,165 | 59 | 4,865 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 421 | 458 | 469 |
| Provision for expected credit losses and chargebacks | 109 | 319 | 138 |
| Deferred income tax (benefit) expense | (445) | 213 | 122 |
| Net losses (gains) on equity securities | 569 | (1,813) | (745) [1] |
| Stock-based compensation expense and other stock-based payments | 376 | 255 | 325 |
| Operating lease amortization | 178 | 184 | 172 |
| Amortization of debt discount and debt issuance costs | 54 | 64 | 58 |
| Unrealized foreign currency transaction (gains) losses related to Euro-denominated debt | (135) | 200 | (7) |
| Impairment of goodwill | 0 | 1,062 | 0 |
| Impairment of investment | 0 | 100 | 0 |
| Loss on early extinguishment of debt | 242 | 0 | 0 [2] |
| Other | 17 | 4 | 9 |
| Changes in assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable | (1,002) | 891 | (323) |
| Prepaid expenses and other current assets | 6 | 161 | (263) |
| Deferred merchant bookings and other current liabilities | 1,539 | (2,266) | 480 |
| Long-term assets and liabilities | (274) | 194 | (435) |
| Net cash provided by operating activities | 2,820 | 85 | 4,865 |
| INVESTING ACTIVITIES: | |||
| Purchase of investments | (17) | (74) | (672) |
| Proceeds from sale and maturity of investments | 508 | 2,997 | 8,099 |
| Additions to property and equipment | (304) | (286) | (368) |
| Acquisitions and other investments, net of cash acquired | (1,185) | 0 | (9) |
| Net cash (used in) provided by investing activities | (998) | 2,637 | 7,050 |
| FINANCING ACTIVITIES: | |||
| Proceeds from revolving credit facility and short-term borrowings | 0 | 0 | 400 |
| Repayments of revolving credit facility and short-term borrowings | 0 | 0 | (425) |
| Proceeds from the issuance of long-term debt | 2,015 | 4,108 | 0 |
| Payments for redemption and conversion of debt | (3,068) | (1,244) | 0 |
| Payments for repurchase of common stock | (163) | (1,303) | (8,187) |
| Other financing activities | (23) | (33) | (8) |
| Net cash (used in) provided by financing activities | (1,239) | 1,528 | (8,220) |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents | (13) | 0 | (8) |
| Net increase in cash and cash equivalents and restricted cash and cash equivalents | 570 | 4,250 | 3,687 |
| Total cash and cash equivalents and restricted cash and cash equivalents, beginning of period | 10,582 | 6,332 | |
| Total cash and cash equivalents and restricted cash and cash equivalents, end of period | 11,152 | 10,582 | 6,332 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | |||
| Cash paid during the period for income taxes (see Note 15) | 735 | 319 | 1,074 |
| Cash paid during the period for interest | 318 | 278 | 221 |
| [2] See Note 12 for additional information related to the loss on early extinguishment of debt. | |||
| [1] See Note 5 for additional information related to the net (losses) gains on equity securities and impairment of investment. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BOOKING HOLDINGS INC. | ||
Ticker: BKNG Fiscal Year: 2021 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 23, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 11,127 | 10,562 |
| Short-term investments (Available-for-sale debt securities: Amortized cost of $25 and $500, respectively) | 25 | 501 |
| Accounts receivable, net (Allowance for expected credit losses of $101 and $166, respectively) | 1,358 | 529 |
| Prepaid expenses, net (Allowance for expected credit losses of $29 and $22, respectively) | 404 | 337 |
| Other current assets | 231 | 277 |
| Total current assets | 13,145 | 12,206 |
| Property and equipment, net | 822 | 756 |
| Operating lease assets | 496 | 529 |
| Intangible assets, net | 2,057 | 1,812 |
| Goodwill | 2,887 | 1,895 |
| Long-term investments (Includes available-for-sale debt securities: Amortized cost of $225 at December 31, 2020) | 3,175 | 3,759 |
| Other assets, net (Allowance for expected credit losses of $18 and $33, respectively) | 1,059 | 917 |
| Total assets | 23,641 | 21,874 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 1,586 | 735 |
| Accrued expenses and other current liabilities | 1,765 | 1,382 |
| Deferred merchant bookings | 906 | 323 |
| Short-term debt | 1,989 | 985 |
| Total current liabilities | 6,246 | 3,425 |
| Deferred income taxes | 905 | 1,127 |
| Operating lease liabilities | 351 | 366 |
| Long-term U.S. transition tax liability | 825 | 923 |
| Other long-term liabilities | 199 | 111 |
| Long-term debt | 8,937 | 11,029 |
| Total liabilities | 17,463 | 16,981 |
| Commitments and contingencies (see Note 16) | ||
| Stockholders' equity: | ||
| Common stock, $0.008 par value, Authorized shares: 1,000,000,000 Issued shares: 63,584,444 and 63,406,451, respectively | 0 | 0 |
| Treasury stock, 22,518,391 and 22,446,897 shares, respectively | (24,290) | (24,128) |
| Additional paid-in capital | 6,159 | 5,851 |
| Retained earnings | 24,453 | 23,288 |
| Accumulated other comprehensive loss | (144) | (118) |
| Total stockholders' equity | 6,178 | 4,893 |
| Total liabilities and stockholders' equity | 23,641 | 21,874 |
| External Links | |
| BOOKING HOLDINGS INC. (BKNG) Fiscal Year 2021 | |
| 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 |