2019 Q4 Form 10-K Financial Statement

#000107553121000019 Filed on February 24, 2021

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4 2018
Revenue $3.339B $3.213B $14.53B
YoY Change 3.92% 14.63% 14.56%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.050B $1.961B $5.655B
YoY Change 4.53% 18.15% 396.94%
% of Gross Profit
Research & Development $233.0M
YoY Change 23.28%
% of Gross Profit
Depreciation & Amortization $117.0M $108.6M $426.0M
YoY Change 7.73% 11.38% 17.36%
% of Gross Profit
Operating Expenses $2.167B $2.070B $9.186B
YoY Change 4.7% 17.76% 16.26%
Operating Profit $5.341B
YoY Change 17.7%
Interest Expense $248.0M -$511.0M $269.0M
YoY Change -148.53% 1277.36% 5.91%
% of Operating Profit 5.04%
Other Income/Expense, Net -$506.0M
YoY Change 264.03%
Pretax Income $1.420B $631.9M $47.00M
YoY Change 124.72% -32.88% -138.52%
Income Tax $243.0M $15.90M $837.0M
% Of Pretax Income 17.11% 2.52% 1780.85%
Net Earnings $1.171B $645.8M $3.998B
YoY Change 81.33% -216.32% 70.78%
Net Earnings / Revenue 35.07% 20.1% 27.52%
Basic Earnings Per Share $28.07 $14.00 $84.26
Diluted Earnings Per Share $27.75 $13.86 $83.26
COMMON SHARES
Basic Shares Outstanding 41.86M shares 46.33M shares 47.45M shares
Diluted Shares Outstanding 48.02M shares

Balance Sheet

Concept 2019 Q4 2018 Q4 2018
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.310B $6.284B $6.284B
YoY Change 16.33% -15.1% -15.09%
Cash & Equivalents $6.312B $2.624B $2.624B
Short-Term Investments $998.0M $3.660B $3.660B
Other Short-Term Assets $364.0M $600.0M $600.0M
YoY Change -39.33% 44.23% 44.23%
Inventory
Prepaid Expenses $479.0M
Receivables $1.680B $1.523B $1.523B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $9.833B $8.407B $8.407B
YoY Change 16.96% -6.95% -6.95%
LONG-TERM ASSETS
Property, Plant & Equipment $738.0M $656.0M $656.0M
YoY Change 12.5% 36.67% 36.67%
Goodwill $2.913B $2.910B
YoY Change 0.1% 6.28%
Intangibles $1.954B $2.125B
YoY Change -8.05% -2.39%
Long-Term Investments $4.477B $8.408B $8.408B
YoY Change -46.75% -19.32% -19.32%
Other Assets $867.0M $181.0M $181.0M
YoY Change 379.01% 22.3% -69.83%
Total Long-Term Assets $11.57B $14.28B $14.28B
YoY Change -18.98% -13.01% -13.01%
TOTAL ASSETS
Total Short-Term Assets $9.833B $8.407B $8.407B
Total Long-Term Assets $11.57B $14.28B $14.28B
Total Assets $21.40B $22.69B $22.69B
YoY Change -5.66% -10.86% -10.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.239B $1.134B $1.134B
YoY Change 9.26% 69.76% 69.76%
Accrued Expenses $1.578B $1.399B $1.374B
YoY Change 12.79% 22.83% 20.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $25.00M
YoY Change
Long-Term Debt Due $988.0M $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $5.366B $3.555B $3.555B
YoY Change 50.94% 1.63% 1.63%
LONG-TERM LIABILITIES
Long-Term Debt $7.640B $8.649B $8.649B
YoY Change -11.67% -1.83% -1.86%
Other Long-Term Liabilities $104.0M $162.0M $1.328B
YoY Change -35.8% 10.2% -5.08%
Total Long-Term Liabilities $7.744B $8.811B $9.977B
YoY Change -12.11% -1.63% -2.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.366B $3.555B $3.555B
Total Long-Term Liabilities $7.744B $8.811B $9.977B
Total Liabilities $15.47B $13.90B $13.90B
YoY Change 11.27% -2.01% -2.04%
SHAREHOLDERS EQUITY
Retained Earnings $23.23B $18.37B
YoY Change 26.49% 31.77%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $22.86B $14.71B
YoY Change 55.42% 69.11%
Treasury Stock Shares 21.76M shares 17.32M shares
Shareholders Equity $5.933B $8.785B $8.785B
YoY Change
Total Liabilities & Shareholders Equity $21.40B $22.69B $22.69B
YoY Change -5.66% -10.86% -10.86%

Cashflow Statement

Concept 2019 Q4 2018 Q4 2018
OPERATING ACTIVITIES
Net Income $1.171B $645.8M $3.998B
YoY Change 81.33% -216.32% 70.78%
Depreciation, Depletion And Amortization $117.0M $108.6M $426.0M
YoY Change 7.73% 11.38% 17.36%
Cash From Operating Activities $1.077B $1.084B $5.338B
YoY Change -0.63% -7.65% 14.5%
INVESTING ACTIVITIES
Capital Expenditures -$87.00M -$86.00M $442.0M
YoY Change 1.16% 34.17% 53.47%
Acquisitions
YoY Change
Other Investing Activities $183.0M $495.2M $2.657B
YoY Change -63.05% -200.08% -167.88%
Cash From Investing Activities $96.00M $409.2M $2.215B
YoY Change -76.54% -173.22% -152.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.971B
YoY Change 226.64%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.344B -1.839B -$7.431B
YoY Change -26.9% 104.25% 9306.33%
NET CHANGE
Cash From Operating Activities 1.077B 1.084B $5.338B
Cash From Investing Activities 96.00M 409.2M $2.215B
Cash From Financing Activities -1.344B -1.839B -$7.431B
Net Change In Cash -171.0M -345.7M $82.00M
YoY Change -50.54% 21.09% -82.95%
FREE CASH FLOW
Cash From Operating Activities $1.077B $1.084B $5.338B
Capital Expenditures -$87.00M -$86.00M $442.0M
Free Cash Flow $1.164B $1.170B $4.896B
YoY Change -0.5% -5.49% 11.93%

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CY2019 bkng Noncashoperatingandfinancingactivityforanacquisition
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Noncashoperatingandfinancingactivityforanacquisition
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CY2019 bkng Noncashinvestingandfinancingactivityforanacquisition
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CY2018 bkng Noncashinvestingandfinancingactivityforanacquisition
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CY2020 us-gaap Nature Of Operations
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BUSINESS DESCRIPTION<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Booking Holdings Inc. ("Booking Holdings" or the "Company") seeks to make it easier for everyone to experience the world by providing consumers, travel service providers and restaurants with leading travel and restaurant online reservation and related services. The Company offers its services through six primary consumer-facing brands: Booking.com, Priceline, agoda, Rentalcars.com, KAYAK and OpenTable. Through one or more of the Company's brands, consumers can: book a broad array of accommodations (including hotels, motels, resorts, homes, apartments, bed and breakfasts, hostels and other properties); make a car rental reservation or arrange for an airport taxi; make a dinner reservation; or book a flight, cruise, vacation package, tour or activity. Consumers can also use the Company's meta-search services to easily compare travel reservation information, such as airline ticket, hotel reservation and rental car reservation information, from hundreds of online travel platforms at once. In addition, the Company offers various other services to consumers, travel service providers and restaurants, such as certain travel-related insurance products and restaurant management services.</span></div>
CY2020Q4 bkng Number Of Brands
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6 brand
CY2020 us-gaap Use Of Estimates
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<div style="margin-bottom:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes thereto.  Actual results may differ significantly from those estimates.  The estimates underlying the Company's Consolidated Financial Statements relate to, among other things, the valuation of goodwill, other long-lived tangible and intangible assets, the valuation of investments in private companies, income taxes, contingencies, stock-based compensation, the allowance for expected credit losses (also referred to as allowance for doubtful accounts), customer chargeback provisions and the accrual of obligations for loyalty and other incentive programs.</span></div>
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CY2020 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Change in Presentation and ReclassificationCertain amounts from prior periods have been reclassified to conform to the current year presentation, including the change in the presentation of marketing expenses disclosed later in this Note.
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333000000 USD
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CY2020 us-gaap Number Of Operating Segments
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4 segment
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1 segment
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one year
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44000000 USD
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30000000 USD
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38000000 USD
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392000000 USD
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380000000 USD
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337000000 USD
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358000000 USD
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373000000 USD
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485
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415000000 USD
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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20000000 USD
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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5000000 USD
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CY2019Q4 us-gaap Accounts Receivable Gross Current
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32000000 USD
CY2019Q4 us-gaap Other Receivables Gross Current
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110000000 USD
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CY2019 us-gaap Provision For Doubtful Accounts
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CY2018 us-gaap Provision For Doubtful Accounts
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CY2020 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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116000000 USD
CY2019 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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70000000 USD
CY2018 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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62000000 USD
CY2020 bkng Accounts Receivable Allowance For Credit Loss Foreign Currency Translation Adjustment Increase Decrease
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17000000 USD
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CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2020 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2019 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2018 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019 us-gaap Depreciation Nonproduction
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CY2019 us-gaap Goodwill Acquired During Period
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CY2019 bkng Treasury Stock Repurchasedbutunsettledbyperiodend
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CY2018 bkng Treasury Stock Repurchasedbutunsettledbyperiodend
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