$EXPE

Expedia Group, Inc.

CIK:0001324424|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income Statement [Abstract]

Revenue

$ 4,315

$ 3,786

$ 7,741

$ 6,774

Costs and expenses:

Cost of revenue (exclusive of depreciation and amortization shown separately below)

^[1]

403

377

780

734

Selling and marketing - direct

2,119

1,920

3,975

3,677

Selling and marketing - indirect

^[1]

217

213

419

412

Technology and content

^[1]

325

649

645

General and administrative

^[1]

204

197

400

377

Depreciation and amortization

228

223

456

442

Legal reserves, occupancy tax and other

(58)

Restructuring and related reorganization charges

^[1]

Operating income

800

485

1,051

415

Other income (expense):

Interest income

133

128

Interest expense

(61)

(58)

(172)

(116)

Other, net

215

(78)

(221)

Total other income (expense), net

227

(62)

(209)

Income before income taxes

1,027

423

1,052

206

Provision for income taxes

(152)

(101)

(189)

(81)

Net income

875

322

863

125

Net loss attributable to non-controlling interests

Net income attributable to Expedia Group, Inc.

$ 878

$ 330

$ 872

$ 130

Earnings per share attributable to Expedia Group, Inc. available to common stockholders:

Basic (in dollars per share)

$ 7.30

$ 2.61

$ 7.21

$ 1.02

Diluted (in dollars per share)

$ 7.16

$ 2.48

$ 7.05

$ 0.96

Shares used in computing earnings (loss) per share (000's):

Basic (in shares)

120,223

126,453

121,027

127,541

Diluted (in shares)

122,552

132,809

123,763

134,296

[1]


(1) Includes stock-based compensation as follows:
Cost of revenue	$	4	$	4	$	8	$	7
Selling and marketing	24		23		42		43
Technology and content	40		39		78		77
General and administrative	44		36		83		73
Restructuring and related reorganization charges	2		3		6		3

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net income	$ 863	$ 125
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment, including internal-use software and website development	438	420
Amortization of intangible assets	18	22
Amortization of stock-based compensation	217	203
Deferred income taxes	83	1
Foreign exchange (gain) loss on cash, restricted cash and short-term investments, net	31	(137)
Realized (gain) loss on foreign currency forwards, net	185	(160)
(Gain) loss on minority equity investments, net	(125)	258
Other, net	32	43
Changes in operating assets and liabilities:
Accounts receivable	(1,654)	(1,759)
Prepaid expenses and other assets	(230)	(250)
Accounts payable, merchant	283	119
Accounts payable, other, accrued expenses and other liabilities	282	296
Tax payable/receivable, net	(12)	(6)
Deferred merchant bookings	4,998	4,898
Net cash provided by operating activities	5,409	4,073
Investing activities:
Capital expenditures, including internal-use software and website development	(383)	(396)
Purchases of investments	(760)	(428)
Sales and maturities of investments	335	441
Proceeds from exchange of cross-currency interest rate swaps	692	0
Payments for exchange of cross-currency interest rate swaps	(692)	0
Acquisitions and other, net	(400)	163
Net cash used in investing activities	(1,208)	(220)
Financing activities:
Proceeds from issuance of long-term debt, net of issuance costs	986	985
Payments related to long-term debt	(1,828)	(1,044)
Purchases of treasury stock	(1,058)	(1,072)
Payment of dividends to stockholders	(116)	(102)
Proceeds from exercise of equity awards and employee stock purchase plan	25	25
Other, net	(66)	28
Net cash used in financing activities	(2,057)	(1,180)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	(36)	208
Net increase in cash, cash equivalents and restricted cash and cash equivalents	2,108	2,881
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period	6,976	5,574
Cash, cash equivalents and restricted cash and cash equivalents at end of period	9,084	8,455
Supplemental cash flow information
Cash paid for interest	112	100
Income tax payments, net	$ 113	$ 86

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 6,682	$ 5,413
Restricted cash and cash equivalents	2,402	1,563
Short-term investments	445	320
Accounts receivable, net of allowance of $95 and $74	5,780	4,166
Income taxes receivable	50	38
Prepaid expenses and other current assets	943	699
Total current assets	16,302	12,199
Property and equipment, net	2,438	2,447
Operating lease right-of-use assets	269	296
Long-term investments and other assets	1,804	1,387
Deferred income taxes	346	432
Intangible assets, net	878	819
Goodwill	7,024	6,872
TOTAL ASSETS	29,061	24,452
Current liabilities:
Accounts payable, merchant	2,465	2,188
Accounts payable, other	1,328	1,103
Deferred merchant bookings	15,426	10,428
Deferred revenue	175	163
Income taxes payable	55	56
Accrued expenses and other current liabilities	905	1,027
Current maturities of long-term debt	0	1,692
Total current liabilities	20,354	16,657
Long-term debt, excluding current maturities	5,459	4,469
Deferred income taxes	19	20
Operating lease liabilities	226	254
Other long-term liabilities	532	505
Commitments and contingencies
Stockholders’ equity:
Common stock	0	0
Additional paid-in capital	16,783	16,565
Treasury stock - Common stock and Class B, at cost; Shares 186,613 and 181,749	(17,839)	(16,786)
Retained earnings	2,452	1,696
Accumulated other comprehensive income (loss)	(187)	(191)
Total Expedia Group, Inc. stockholders’ equity	1,209	1,284
Non-redeemable non-controlling interests	1,262	1,263
Total stockholders’ equity	2,471	2,547
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	29,061	24,452
Class B Common Stock
Stockholders’ equity:
Common stock	$ 0	$ 0