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: 2022 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenues | $ 17,090 | 10,958 | 6,796 |
| Operating expenses: | |||
| Marketing expenses | 5,993 | 3,801 | 2,179 |
| Sales and other expenses | 1,818 | 881 | 755 |
| Personnel, including stock-based compensation of $404, $370, and $233, respectively | 2,465 | 2,314 | 1,944 |
| General and administrative | 934 | 620 | 581 |
| Information technology | 526 | 412 | 299 |
| Depreciation and amortization | 451 | 421 | 458 |
| Restructuring, disposal, and other exit activities | (199) | 13 | 149 |
| Impairment of goodwill | 0 | 0 | 1,062 |
| Total operating expenses | 11,988 | 8,462 | 7,427 |
| Operating income (loss) | 5,102 | 2,496 | (631) |
| Interest expense | (391) | (334) | (356) |
| Other income (expense), net | (788) | (697) | 1,554 |
| Income before income taxes | 3,923 | 1,465 | 567 |
| Income tax expense | 865 | 300 | 508 |
| Net income | 3,058 | 1,165 | 59 |
| Net income applicable to common stockholders per basic common share (in dollars per share) | 76.70 | 28.39 | 1.45 |
| Weighted-average number of basic common shares outstanding (in shares) | 39,872 | 41,042 | 40,974 |
| Net income applicable to common stockholders per diluted common share (in dollars per share) | 76.35 | 28.17 | 1.44 |
| Weighted-average number of diluted common shares outstanding (in shares) | 40,052 | 41,362 | 41,160 |
| Product and Service | |||
| Agency revenues | |||
| Revenues | 9,003 | 6,663 | 4,314 |
| Merchant revenues | |||
| Revenues | 7,193 | 3,696 | 2,117 |
| Advertising and other revenues | |||
| Revenues | 894 | 599 | 365 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BOOKING HOLDINGS INC. | |||
Ticker: BKNG Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net income | $ 3,058 | 1,165 | 59 |
| Other comprehensive (loss) income, net of tax | |||
| Foreign currency translation adjustments | (111) | (57) | 50 |
| Net unrealized (losses) gains on available-for-sale securities | (12) | 31 | 23 |
| Total other comprehensive (loss) income, net of tax | (123) | (26) | 73 |
| Comprehensive income | 2,935 | 1,139 | 132 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BOOKING HOLDINGS INC. | |||
Ticker: BKNG Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| OPERATING ACTIVITIES: | |||
| Net income | $ 3,058 | 1,165 | 59 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 451 | 421 | 458 |
| Provision for expected credit losses and chargebacks | 232 | 109 | 319 |
| Deferred income tax (benefit) expense | (257) | (445) | 213 |
| Net losses (gains) on equity securities | 963 | 569 | (1,713) |
| Stock-based compensation expense and other stock-based payments | 404 | 376 | 255 |
| Operating lease amortization | 156 | 178 | 184 |
| Unrealized foreign currency transaction (gains) losses related to Euro-denominated debt | (46) | (135) | 200 |
| Impairment of goodwill | 0 | 0 | 1,062 |
| Loss on early extinguishment of debt | 0 | 242 | 0 |
| Gain on sale and leaseback transaction | (240) | 0 | 0 |
| Other Noncash Income (Expense) | 38 | 71 | 68 |
| Changes in assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable | (1,228) | (1,002) | 891 |
| Prepaid expenses and other current assets | (217) | 6 | 161 |
| Deferred merchant bookings and other current liabilities | 3,718 | 1,539 | (2,266) |
| Long-term assets and liabilities | (478) | (274) | 194 |
| Net cash provided by operating activities | 6,554 | 2,820 | 85 |
| INVESTING ACTIVITIES: | |||
| Purchase of investments | (768) | (17) | (74) |
| Proceeds from sale and maturity of investments | 32 | 508 | 2,997 |
| Additions to property and equipment | (368) | (304) | (286) |
| Acquisitions, net of cash acquired | 0 | (1,185) | 0 |
| Proceeds from sale and leaseback transaction | 601 | 0 | 0 |
| Other investing activities | (15) | 0 | 0 |
| Net cash (used in) provided by investing activities | (518) | (998) | 2,637 |
| FINANCING ACTIVITIES: | |||
| Proceeds from the issuance of long-term debt | 3,621 | 2,015 | 4,108 |
| Payments on maturity and redemption of debt | (1,880) | (3,068) | (1,244) |
| Payments for repurchase of common stock | (6,621) | (163) | (1,303) |
| Other financing activities | (17) | (23) | (33) |
| Net cash (used in) provided by financing activities | (4,897) | (1,239) | 1,528 |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents | (40) | (13) | 0 |
| Net increase in cash and cash equivalents and restricted cash and cash equivalents | 1,099 | 570 | 4,250 |
| Total cash and cash equivalents and restricted cash and cash equivalents, beginning of period | 11,152 | 10,582 | |
| Total cash and cash equivalents and restricted cash and cash equivalents, end of period | 12,251 | 11,152 | 10,582 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | |||
| Cash paid during the period for income taxes (see Note 15) | 600 | 735 | 319 |
| Cash paid during the period for interest | 380 | 318 | 278 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
BOOKING HOLDINGS INC. | ||
Ticker: BKNG Fiscal Year: 2022 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 12,221 | 11,127 |
| Short-term investments (Available-for-sale debt securities: Amortized cost of $176 and $25, respectively) | 175 | 25 |
| Accounts receivable, net (Allowance for expected credit losses of $117 and $101, respectively) | 2,229 | 1,358 |
| Prepaid expenses, net (Allowance for expected credit losses of $18 and $29, respectively) | 477 | 404 |
| Other current assets | 696 | 231 |
| Total current assets | 15,798 | 13,145 |
| Property and equipment, net | 669 | 822 |
| Operating lease assets | 645 | 496 |
| Intangible assets, net | 1,829 | 2,057 |
| Goodwill | 2,807 [1] | 2,887 |
| Long-term investments (Includes available-for-sale debt securities: Amortized cost of $576 at December 31, 2022) | 2,789 | 3,175 |
| Other assets, net (Allowance for expected credit losses of $5 and $18, respectively) | 824 | 1,059 |
| Total assets | 25,361 | 23,641 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 2,507 | 1,586 |
| Accrued expenses and other current liabilities | 3,244 | 1,765 |
| Deferred merchant bookings | 2,223 | 906 |
| Short-term debt | 500 | 1,989 |
| Total current liabilities | 8,474 | 6,246 |
| Deferred income taxes | 685 | 905 |
| Operating lease liabilities | 552 | 351 |
| Long-term U.S. transition tax liability | 711 | 825 |
| Other long-term liabilities | 172 | 199 |
| Long-term debt | 11,985 | 8,937 |
| Total liabilities | 22,579 | 17,463 |
| Commitments and contingencies (see Note 16) | ||
| Stockholders' equity: | ||
| Common stock, $0.008 par value, Authorized shares: 1,000,000,000 Issued shares: 63,780,528 and 63,584,444, respectively | 0 | 0 |
| Treasury stock: 25,917,558 and 22,518,391 shares, respectively | (30,983) | (24,290) |
| Additional paid-in capital | 6,491 | 6,159 |
| Retained earnings | 27,541 | 24,453 |
| Accumulated other comprehensive loss | (267) | (144) |
| Total stockholders' equity | 2,782 | 6,178 |
| Total liabilities and stockholders' equity | 25,361 | 23,641 |
| [1] The balance of goodwill as of December 31, 2022 and 2021 is stated net of cumulative impairment charges of $2.0 billion. | ||
| External Links | |
| BOOKING HOLDINGS INC. (BKNG) Fiscal Year 2022 | |
| 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 |