$BKNG

PRICELINE COM INC

CIK:0001075531|SEC Filings

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total revenues	$ 7,352	$ 6,798	$ 12,884	$ 11,560
Operating expenses:
Marketing expenses	2,371	2,139	4,439	3,916
Sales and other expenses	942	899	1,746	1,601
Personnel, including stock-based compensation of $140, $154, $281, and $296, respectively	900	896	1,793	1,589
General and administrative	217	199	317	341
Information technology	263	219	503	419
Depreciation and amortization	129	158	260	312
Transformation costs	30	38	55	70
Total operating expenses	4,852	4,548	9,113	8,248
Operating income	2,500	2,250	3,771	3,312
Interest expense	(300)	(418)	(553)	(1,067)
Interest and dividend income	201	234	388	475
Other income (expense), net	159	(962)	353	(1,220)
Income before income taxes	2,560	1,104	3,959	1,500
Income tax expense	610	209	926	272
Net income	$ 1,950	$ 895	$ 3,033	$ 1,228
Net income applicable to common stockholders per basic common share (in dollars per share)	$ 2.54	$ 1.10	$ 3.89	$ 1.50
Weighted-average number of basic common shares outstanding (in shares)	768	812	779	817
Net income applicable to common stockholders per diluted common share (in dollars per share)	$ 2.53	$ 1.10	$ 3.88	$ 1.50
Weighted-average number of diluted common shares outstanding (in shares)	770	815	782	821
Merchant revenues
Total revenues	$ 5,127	$ 4,457	$ 8,825	$ 7,375
Agency revenues
Total revenues	1,903	2,044	3,431	3,608
Advertising and other revenues
Total revenues	$ 322	$ 297	$ 628	$ 577

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES:
Net income	$ 3,033	$ 1,228
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	260	312
Provision for expected credit losses and chargebacks	217	206
Deferred income taxes	72	(402)
Net losses (gains) on equity securities	135	(23)
Stock-based compensation expense	281	297
Operating lease amortization	65	66
Unrealized foreign currency transaction (gains) losses related to Euro-denominated debt	(528)	1,398
Amortization of debt discount and change in fair value of the conversion option related to the convertible senior notes	0	360
Other	8	(44)
Changes in assets and liabilities:
Accounts receivable	(795)	(1,078)
Deferred merchant bookings and other current liabilities	4,207	3,796
Other	(21)	368
Net cash provided by operating activities	6,934	6,484
INVESTING ACTIVITIES:
Additions to property and equipment	(183)	(185)
Other investing activities	(13)	6
Net cash used in investing activities	(196)	(179)
FINANCING ACTIVITIES:
Proceeds from the issuance of long-term debt	2,975	1,955
Payments on maturity of debt	(1,000)	(3,451)
Payments for repurchase of common stock	(7,758)	(3,668)
Dividends paid	(664)	(631)
Other financing activities	227	31
Net cash used in financing activities	(6,220)	(5,764)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents	(279)	903
Net increase in cash and cash equivalents and restricted cash and cash equivalents	239	1,444
Total cash and cash equivalents and restricted cash and cash equivalents, beginning of period	17,269	16,193
Total cash and cash equivalents and restricted cash and cash equivalents, end of period	$ 17,508	$ 17,637

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 17,214	$ 17,203
Accounts receivable, net (Allowance for expected credit losses of $141 and $137, respectively)	4,341	3,820
Prepaid expenses, net	601	611
Other current assets	901	630
Total current assets	23,057	22,264
Property and equipment, net	767	807
Operating lease assets	594	632
Intangible assets, net	852	918
Goodwill	2,672	2,669
Long-term investments	448	582
Other assets, net	1,292	1,392
Total assets	29,682	29,264
Current liabilities:
Accounts payable	5,145	5,094
Accrued expenses and other current liabilities	3,805	4,454
Deferred merchant bookings	10,121	5,270
Short-term debt	2,000	1,880
Total current liabilities	21,071	16,698
Operating lease liabilities	514	557
Other long-term liabilities	700	731
Long-term debt	18,180	16,856
Total liabilities	40,465	34,842
Commitments and contingencies (see Note 13)
Stockholders' deficit:
Common stock, $0.008 par value, Authorized shares: 25,000 Issued shares: 1,618 and 1,613, respectively	13	13
Treasury stock: 860 and 816 shares, respectively	(62,129)	(54,315)
Additional paid-in capital	8,635	8,344
Retained earnings	43,046	40,670
Accumulated other comprehensive loss	(348)	(290)
Total stockholders' deficit	(10,783)	(5,578)
Total liabilities and stockholders' deficit	$ 29,682	$ 29,264