3000000P5YP5Yfalse--12-31Q220190001075531610000005600000012000000530000000.0080.0081000000000100000000062948762631438160.861000000000100000000075000000010000000001000000000100000000075000000010000000000.0320.0320.00350.0080.0090.0180.02150.023750.02750.03550.03650.0360.00350.0080.0090.0180.02150.023750.02750.03550.03650.0360.192655000000501000000P20YP20YP15YP7YP20YP3YP5YP0YP1YP4Y05000000067000000001000000100000015000000360000003600000020000000150000007000000P3Y3500000017317126 0001075531 2019-01-01 2019-06-30 0001075531 bkng:A2.15SeniorNotesDueNovember2022Member 2019-01-01 2019-06-30 0001075531 us-gaap:CommonStockMember 2019-01-01 2019-06-30 0001075531 bkng:A2.375SeniorNotesDueSeptember2024MemberMember 2019-01-01 2019-06-30 0001075531 bkng:A1.8SeniorNotesDueMarch2027Member 2019-01-01 2019-06-30 0001075531 bkng:A0.8SeniorNotesDueMarch2022Member 2019-01-01 2019-06-30 0001075531 2019-07-31 0001075531 2019-06-30 0001075531 2018-12-31 0001075531 2018-04-01 2018-06-30 0001075531 2019-04-01 2019-06-30 0001075531 2018-01-01 2018-06-30 0001075531 us-gaap:NetInvestmentHedgingMember 2019-04-01 2019-06-30 0001075531 us-gaap:NetInvestmentHedgingMember 2019-01-01 2019-06-30 0001075531 bkng:CurrencytranslationadjustmentondeemedrepatriationtaxliabilityMember 2018-01-01 2018-06-30 0001075531 us-gaap:NetInvestmentHedgingMember 2018-01-01 2018-06-30 0001075531 bkng:CurrencytranslationadjustmentondeemedrepatriationtaxliabilityMember 2019-04-01 2019-06-30 0001075531 bkng:CurrencytranslationadjustmentondeemedrepatriationtaxliabilityMember 2019-01-01 2019-06-30 0001075531 bkng:CurrencytranslationadjustmentondeemedrepatriationtaxliabilityMember 2018-04-01 2018-06-30 0001075531 us-gaap:NetInvestmentHedgingMember 2018-04-01 2018-06-30 0001075531 us-gaap:RetainedEarningsMember 2018-06-30 0001075531 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-03-31 0001075531 us-gaap:CommonStockMember 2018-04-01 2018-06-30 0001075531 2018-03-31 0001075531 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-30 0001075531 us-gaap:AdditionalPaidInCapitalMember 2018-04-01 2018-06-30 0001075531 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-04-01 2018-06-30 0001075531 us-gaap:TreasuryStockMember 2018-04-01 2018-06-30 0001075531 us-gaap:TreasuryStockMember 2018-06-30 0001075531 us-gaap:AdditionalPaidInCapitalMember 2018-06-30 0001075531 us-gaap:RetainedEarningsMember 2018-04-01 2018-06-30 0001075531 us-gaap:CommonStockMember 2018-03-31 0001075531 2018-06-30 0001075531 us-gaap:TreasuryStockMember 2018-03-31 0001075531 us-gaap:RetainedEarningsMember 2018-03-31 0001075531 us-gaap:CommonStockMember 2018-06-30 0001075531 us-gaap:AdditionalPaidInCapitalMember 2018-03-31 0001075531 us-gaap:RetainedEarningsMember 2017-12-31 0001075531 us-gaap:CommonStockMember 2018-01-01 2018-06-30 0001075531 us-gaap:TreasuryStockMember 2017-12-31 0001075531 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-06-30 0001075531 us-gaap:TreasuryStockMember 2018-01-01 2018-06-30 0001075531 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0001075531 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-06-30 0001075531 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0001075531 2017-12-31 0001075531 us-gaap:CommonStockMember 2017-12-31 0001075531 us-gaap:RetainedEarningsMember 2018-01-01 2018-06-30 0001075531 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0001075531 us-gaap:CommonStockMember 2019-03-31 0001075531 us-gaap:RetainedEarningsMember 2019-03-31 0001075531 us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0001075531 us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0001075531 2019-03-31 0001075531 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-04-01 2019-06-30 0001075531 us-gaap:TreasuryStockMember 2019-04-01 2019-06-30 0001075531 us-gaap:TreasuryStockMember 2019-06-30 0001075531 us-gaap:TreasuryStockMember 2019-03-31 0001075531 us-gaap:CommonStockMember 2019-06-30 0001075531 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001075531 us-gaap:RetainedEarningsMember 2019-06-30 0001075531 us-gaap:CommonStockMember 2019-04-01 2019-06-30 0001075531 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001075531 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0001075531 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-06-30 0001075531 us-gaap:RetainedEarningsMember 2018-12-31 0001075531 us-gaap:RetainedEarningsMember 2019-01-01 2019-06-30 0001075531 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-06-30 0001075531 us-gaap:CommonStockMember 2019-01-01 2019-06-30 0001075531 us-gaap:CommonStockMember 2018-12-31 0001075531 us-gaap:TreasuryStockMember 2018-12-31 0001075531 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001075531 us-gaap:TreasuryStockMember 2019-01-01 2019-06-30 0001075531 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001075531 us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 0001075531 us-gaap:AccountingStandardsUpdate201601Member us-gaap:RetainedEarningsMember 2018-01-01 0001075531 srt:ScenarioPreviouslyReportedMember 2018-01-01 2018-06-30 0001075531 bkng:OtherGeographicalAreasMember 2018-04-01 2018-06-30 0001075531 bkng:OtherGeographicalAreasMember 2019-04-01 2019-06-30 0001075531 country:US 2018-01-01 2018-06-30 0001075531 country:US 2019-01-01 2019-06-30 0001075531 country:US 2019-04-01 2019-06-30 0001075531 country:NL 2018-04-01 2018-06-30 0001075531 country:NL 2019-01-01 2019-06-30 0001075531 bkng:OtherGeographicalAreasMember 2019-01-01 2019-06-30 0001075531 country:US 2018-04-01 2018-06-30 0001075531 country:NL 2018-01-01 2018-06-30 0001075531 country:NL 2019-04-01 2019-06-30 0001075531 bkng:OtherGeographicalAreasMember 2018-01-01 2018-06-30 0001075531 bkng:OnlineaccommodationreservationservicesMember us-gaap:SalesRevenueNetMember us-gaap:ProductConcentrationRiskMember 2018-01-01 2018-06-30 0001075531 bkng:OnlineaccommodationreservationservicesMember us-gaap:SalesRevenueNetMember us-gaap:ProductConcentrationRiskMember 2019-04-01 2019-06-30 0001075531 bkng:OnlineaccommodationreservationservicesMember us-gaap:SalesRevenueNetMember us-gaap:ProductConcentrationRiskMember 2019-01-01 2019-06-30 0001075531 bkng:DeferredMerchantBookingsMember 2019-06-30 0001075531 bkng:DeferredMerchantBookingsMember 2018-12-31 0001075531 bkng:OthersourcesofonlinetravelreservationservicesoradvertisingandotherrevenuesMember srt:MaximumMember us-gaap:SalesRevenueNetMember us-gaap:ProductConcentrationRiskMember 2018-01-01 2018-06-30 0001075531 bkng:OnlineaccommodationreservationservicesMember us-gaap:SalesRevenueNetMember us-gaap:ProductConcentrationRiskMember 2018-04-01 2018-06-30 0001075531 us-gaap:EmployeeStockOptionMember 2019-06-30 0001075531 us-gaap:EmployeeStockOptionMember 2018-12-31 0001075531 us-gaap:EmployeeStockOptionMember 2019-01-01 2019-06-30 0001075531 us-gaap:EmployeeStockOptionMember 2018-01-01 2018-12-31 0001075531 us-gaap:EmployeeStockOptionMember 2018-01-01 2018-06-30 0001075531 bkng:PerformanceShareUnits2019GrantsMember 2019-06-30 0001075531 bkng:PerformanceShareUnits2017GrantsMember 2017-01-01 2017-12-31 0001075531 bkng:PerformanceShareUnits2018GrantsMember 2018-01-01 2018-12-31 0001075531 bkng:PerformanceShareUnits2019GrantsMember 2019-01-01 2019-06-30 0001075531 bkng:PerformanceShareUnits2017GrantsMember 2019-06-30 0001075531 bkng:AwardsOtherThanOptionsMember 2019-06-30 0001075531 us-gaap:RestrictedStockUnitsRSUMember 2019-01-01 2019-06-30 0001075531 bkng:PerformanceShareUnits2018GrantsMember 2019-06-30 0001075531 bkng:AwardsOtherThanOptionsMember 2019-01-01 2019-06-30 0001075531 bkng:AwardsOtherThanOptionsMember 2018-12-31 0001075531 us-gaap:ConvertibleDebtSecuritiesMember 2019-01-01 2019-06-30 0001075531 bkng:UnvestedStockAwardsOutstandingAndConvertibleDebtSecuritiesMember 2018-01-01 2018-06-30 0001075531 bkng:UnvestedStockAwardsOutstandingAndConvertibleDebtSecuritiesMember 2019-01-01 2019-06-30 0001075531 bkng:UnvestedStockAwardsOutstandingAndConvertibleDebtSecuritiesMember 2019-04-01 2019-06-30 0001075531 bkng:UnvestedStockAwardsOutstandingAndConvertibleDebtSecuritiesMember 2018-04-01 2018-06-30 0001075531 us-gaap:CorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:CorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:ForeignCorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 bkng:TimedepositsandcertificatesofdepositMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:CommercialPaperMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:USGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:ForeignGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:USGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:ForeignGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:CorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 bkng:LongtermInvestmentsMember 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:ForeignCorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:USGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:ForeignCorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:CorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:USGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 bkng:MeituanDianpingMember 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member 2019-04-01 2019-06-30 0001075531 bkng:MeituanDianpingMember 2019-01-01 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member 2019-01-01 2019-06-30 0001075531 bkng:MeituanDianpingMember 2019-04-01 2019-06-30 0001075531 bkng:Ctrip1NoteDue2020Member bkng:Ctrip.comInternationalLtd.Member us-gaap:ForeignCorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member bkng:LongtermInvestmentsMember 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:ForeignCorporateDebtSecuritiesMember 2019-06-30 0001075531 bkng:Ctrip1Notesdue2019Member bkng:Ctrip.comInternationalLtd.Member us-gaap:ForeignCorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 bkng:DidiChuxingMember 2018-07-17 0001075531 us-gaap:RedeemableConvertiblePreferredStockMember us-gaap:OtherLongTermInvestmentsMember 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member 2018-04-01 2018-06-30 0001075531 bkng:Ctrip1.25Notesdue2022Member bkng:Ctrip.comInternationalLtd.Member us-gaap:ForeignCorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2016-09-12 0001075531 bkng:Ctrip.comInternationalLtd.Member bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:RedeemableConvertiblePreferredStockMember us-gaap:OtherLongTermInvestmentsMember 2018-12-31 0001075531 2015-05-26 0001075531 bkng:MeituanDianpingMember 2017-10-31 0001075531 bkng:MeituanDianpingMember 2018-12-31 0001075531 bkng:Ctrip.comInternationalLtd.Member 2018-01-01 2018-06-30 0001075531 2014-08-05 2014-08-06 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignCorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherLongTermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignCorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001075531 us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001075531 us-gaap:ForwardContractsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignCorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignCorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember bkng:TimedepositsandcertificatesofdepositMember 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignCorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherLongTermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherLongTermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignCorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember bkng:TimedepositsandcertificatesofdepositMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:ForwardContractsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignCorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:ForwardContractsMember us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignCorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember bkng:TimedepositsandcertificatesofdepositMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:ForwardContractsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember bkng:TimedepositsandcertificatesofdepositMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2019-06-30 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherLongTermInvestmentsMember 2018-12-31 0001075531 bkng:ForeignExchangeContractsTransactionRiskMember 2019-01-01 2019-06-30 0001075531 bkng:ForeignExchangeContractsTransactionRiskMember 2018-04-01 2018-06-30 0001075531 bkng:ForeignExchangeContractsTranslationRiskMember 2019-06-30 0001075531 us-gaap:ForwardContractsMember 2018-01-01 2018-06-30 0001075531 bkng:ForeignExchangeContractsTransactionRiskMember 2019-04-01 2019-06-30 0001075531 bkng:ForeignExchangeContractsTransactionRiskMember 2018-01-01 2018-06-30 0001075531 us-gaap:ForwardContractsMember 2019-01-01 2019-06-30 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember bkng:TimedepositsandcertificatesofdepositMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:ForwardContractsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherLongTermInvestmentsMember 2018-12-31 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignCorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignCorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember bkng:TimedepositsandcertificatesofdepositMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherLongTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember 2018-12-31 0001075531 us-gaap:ForwardContractsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:ForwardContractsMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember bkng:TimedepositsandcertificatesofdepositMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:ForwardContractsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember 2018-12-31 0001075531 us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember bkng:TimedepositsandcertificatesofdepositMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember bkng:TimedepositsandcertificatesofdepositMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember bkng:TimedepositsandcertificatesofdepositMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherLongTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialPaperMember 2018-12-31 0001075531 us-gaap:FairValueMeasurementsRecurringMember bkng:TimedepositsandcertificatesofdepositMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:MoneyMarketFundsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignCorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember bkng:TimedepositsandcertificatesofdepositMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 bkng:Ctrip.comInternationalLtd.Member us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignCorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentDebtSecuritiesMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001075531 us-gaap:CashEquivalentsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ForeignGovernmentDebtSecuritiesMember 2018-12-31 0001075531 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember bkng:LongtermInvestmentsMember 2018-12-31 0001075531 bkng:ForeignExchangeContractsTranslationRiskMember 2018-12-31 0001075531 srt:MaximumMember 2019-06-30 0001075531 bkng:FareHarborMember 2018-01-01 2018-06-30 0001075531 bkng:HotelsCombinedMember 2018-11-29 2018-11-30 0001075531 us-gaap:DistributionRightsMember 2019-06-30 0001075531 us-gaap:TradeNamesMember 2018-12-31 0001075531 us-gaap:TradeNamesMember 2019-06-30 0001075531 us-gaap:TechnologyBasedIntangibleAssetsMember 2019-06-30 0001075531 us-gaap:TechnologyBasedIntangibleAssetsMember 2018-12-31 0001075531 us-gaap:DistributionRightsMember 2018-12-31 0001075531 us-gaap:InternetDomainNamesMember 2019-06-30 0001075531 us-gaap:OtherIntangibleAssetsMember 2019-06-30 0001075531 us-gaap:OtherIntangibleAssetsMember 2018-12-31 0001075531 us-gaap:InternetDomainNamesMember 2018-12-31 0001075531 srt:MinimumMember us-gaap:OtherIntangibleAssetsMember 2019-01-01 2019-06-30 0001075531 srt:MaximumMember us-gaap:DistributionRightsMember 2019-01-01 2019-06-30 0001075531 srt:MaximumMember us-gaap:TechnologyBasedIntangibleAssetsMember 2019-01-01 2019-06-30 0001075531 srt:MinimumMember us-gaap:TradeNamesMember 2019-01-01 2019-06-30 0001075531 srt:MaximumMember us-gaap:OtherIntangibleAssetsMember 2019-01-01 2019-06-30 0001075531 srt:MaximumMember us-gaap:InternetDomainNamesMember 2019-01-01 2019-06-30 0001075531 srt:MinimumMember us-gaap:DistributionRightsMember 2019-01-01 2019-06-30 0001075531 srt:MinimumMember us-gaap:TechnologyBasedIntangibleAssetsMember 2019-01-01 2019-06-30 0001075531 srt:MinimumMember us-gaap:InternetDomainNamesMember 2019-01-01 2019-06-30 0001075531 srt:MaximumMember us-gaap:TradeNamesMember 2019-01-01 2019-06-30 0001075531 us-gaap:RevolvingCreditFacilityMember 2015-06-19 0001075531 bkng:A3.6SeniorNotesDueJune2026Member 2016-05-23 0001075531 bkng:A1.8SeniorNotesDueMarch2027Member 2015-03-03 0001075531 bkng:A3.55SeniorNotesDueMarch2028Member 2017-08-15 0001075531 srt:MaximumMember bkng:EuroDenominatedDebtMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-01-01 2019-06-30 0001075531 bkng:A2.375SeniorNotesDueSeptember2024MemberMember 2014-09-23 0001075531 bkng:OtherLongtermDebtMember 2018-04-01 2018-06-30 0001075531 bkng:ConvertibleNotesMember 2019-01-01 2019-06-30 0001075531 srt:MaximumMember bkng:A0.35SeniorConvertibleNotesDueJune2020Member 2013-05-01 2013-05-31 0001075531 bkng:A2.75SeniorNotesDueMarch2023Member 2017-08-15 0001075531 us-gaap:RevolvingCreditFacilityMember 2019-01-01 2019-06-30 0001075531 bkng:ConvertibleNotesMember 2018-01-01 2018-06-30 0001075531 bkng:ConvertibleDebt100PercentDueMarch2018Member 2019-01-01 2019-06-30 0001075531 bkng:ConvertibleDebt100PercentDueMarch2018Member 2012-03-31 0001075531 us-gaap:FairValueInputsLevel2Member 2019-06-30 0001075531 bkng:A0.8SeniorNotesDueMarch2022Member 2017-03-10 0001075531 bkng:OtherLongtermDebtMember 2019-01-01 2019-06-30 0001075531 us-gaap:LetterOfCreditMember 2015-06-19 0001075531 srt:MinimumMember bkng:A0.35SeniorConvertibleNotesDueJune2020Member 2013-05-01 2013-05-31 0001075531 bkng:Rate2CMember srt:MinimumMember us-gaap:RevolvingCreditFacilityMember 2015-06-18 2015-06-19 0001075531 bkng:Rate1Member srt:MinimumMember us-gaap:RevolvingCreditFacilityMember us-gaap:LondonInterbankOfferedRateLIBORMember 2015-06-18 2015-06-19 0001075531 bkng:A0.35SeniorConvertibleNotesDueJune2020Member 2018-01-01 2018-06-30 0001075531 bkng:ConvertibleNotesMember 2019-04-01 2019-06-30 0001075531 bkng:A2.15SeniorNotesDueNovember2022Member 2015-11-25 0001075531 bkng:A0.9SeniorConvertibleNotesDueSeptember2021Member 2014-01-01 2014-12-31 0001075531 bkng:A0.35SeniorConvertibleNotesDueJune2020Member 2013-01-01 2013-12-31 0001075531 bkng:OtherLongtermDebtMember 2019-04-01 2019-06-30 0001075531 srt:MinimumMember bkng:EuroDenominatedDebtMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-01-01 2019-06-30 0001075531 bkng:A0.35SeniorConvertibleNotesDueJune2020Member 2013-06-30 0001075531 srt:MinimumMember bkng:A0.9SeniorConvertibleNotesDueSeptember2021Member 2014-08-19 2014-08-20 0001075531 bkng:OtherLongtermDebtMember 2018-01-01 2018-06-30 0001075531 bkng:A0.35SeniorConvertibleNotesDueJune2020Member 2019-01-01 2019-06-30 0001075531 bkng:A0.35SeniorConvertibleNotesDueJune2020Member 2013-05-31 0001075531 bkng:A0.9SeniorConvertibleNotesDueSeptember2021Member 2014-08-20 0001075531 bkng:Rate2CMember us-gaap:RevolvingCreditFacilityMember bkng:OneMonthLiborMember 2015-06-18 2015-06-19 0001075531 bkng:OtherLongtermDebtMember 2019-06-30 0001075531 bkng:A0.35SeniorConvertibleNotesDueJune2020Member 2013-05-01 2013-05-31 0001075531 bkng:A0.35SeniorConvertibleNotesDueJune2020Member 2019-04-01 2019-06-30 0001075531 bkng:A3.65SeniorNotesDueMarch2025Member 2015-03-13 0001075531 bkng:A0.9SeniorConvertibleNotesDueSeptember2021Member 2014-12-31 0001075531 bkng:SwinglineLoansMember 2015-06-19 0001075531 bkng:A0.9SeniorConvertibleNotesDueSeptember2021Member 2014-08-19 2014-08-20 0001075531 bkng:ConvertibleNotesMember 2018-04-01 2018-06-30 0001075531 srt:MaximumMember bkng:A0.9SeniorConvertibleNotesDueSeptember2021Member 2014-08-19 2014-08-20 0001075531 bkng:Rate1Member srt:MaximumMember us-gaap:RevolvingCreditFacilityMember us-gaap:LondonInterbankOfferedRateLIBORMember 2015-06-18 2015-06-19 0001075531 us-gaap:RevolvingCreditFacilityMember 2019-06-30 0001075531 srt:MaximumMember us-gaap:RevolvingCreditFacilityMember 2015-06-18 2015-06-19 0001075531 bkng:Rate2BMember us-gaap:RevolvingCreditFacilityMember us-gaap:FederalFundsPurchasedMember 2015-06-18 2015-06-19 0001075531 srt:MinimumMember us-gaap:RevolvingCreditFacilityMember 2015-06-18 2015-06-19 0001075531 bkng:Rate2CMember srt:MaximumMember us-gaap:RevolvingCreditFacilityMember 2015-06-18 2015-06-19 0001075531 us-gaap:FairValueInputsLevel2Member 2018-12-31 0001075531 bkng:A3.65SeniorNotesDueMarch2025Member 2018-12-31 0001075531 bkng:A0.8SeniorNotesDueMarch2022Member 2018-12-31 0001075531 bkng:A2.375SeniorNotesDueSeptember2024MemberMember 2018-12-31 0001075531 bkng:A3.55SeniorNotesDueMarch2028Member 2018-12-31 0001075531 bkng:A1.8SeniorNotesDueMarch2027Member 2018-12-31 0001075531 bkng:A0.9SeniorConvertibleNotesDueSeptember2021Member 2018-12-31 0001075531 bkng:A2.75SeniorNotesDueMarch2023Member 2018-12-31 0001075531 bkng:A3.6SeniorNotesDueJune2026Member 2018-12-31 0001075531 bkng:A0.35SeniorConvertibleNotesDueJune2020Member 2018-12-31 0001075531 bkng:A2.15SeniorNotesDueNovember2022Member 2018-12-31 0001075531 bkng:A0.9SeniorConvertibleNotesDueSeptember2021Member 2019-06-30 0001075531 bkng:A0.35SeniorConvertibleNotesDueJune2020Member 2019-06-30 0001075531 bkng:A2.375SeniorNotesDueSeptember2024MemberMember 2019-06-30 0001075531 bkng:A3.65SeniorNotesDueMarch2025Member 2019-06-30 0001075531 bkng:A3.6SeniorNotesDueJune2026Member 2019-06-30 0001075531 bkng:A0.8SeniorNotesDueMarch2022Member 2019-06-30 0001075531 bkng:A2.75SeniorNotesDueMarch2023Member 2019-06-30 0001075531 bkng:A3.55SeniorNotesDueMarch2028Member 2019-06-30 0001075531 bkng:A2.15SeniorNotesDueNovember2022Member 2019-06-30 0001075531 bkng:A1.8SeniorNotesDueMarch2027Member 2019-06-30 0001075531 bkng:OtherLongtermDebtMember 2018-12-31 0001075531 us-gaap:RevolvingCreditFacilityMember 2018-12-31 0001075531 us-gaap:RevolvingCreditFacilityMember 2015-06-18 2015-06-19 0001075531 bkng:RepurchaseProgramQ12018Member 2018-03-31 0001075531 bkng:RepurchaseProgramQ12018Member 2019-04-01 2019-06-30 0001075531 bkng:RepurchaseProgramQ22019Member 2019-04-30 0001075531 bkng:RepurchaseProgramQ12018Member 2018-10-01 2018-12-31 0001075531 bkng:RepurchaseProgramQ12018Member 2019-01-01 2019-06-30 0001075531 bkng:RepurchaseProgramQ12016andQ12017Member 2018-01-01 2018-06-30 0001075531 bkng:RepurchaseProgramQ12018andQ22019Member 2019-04-01 2019-06-30 0001075531 bkng:RepurchaseProgramQ12016andQ12017Member 2018-04-01 2018-06-30 0001075531 us-gaap:TaxAndCustomsAdministrationNetherlandsMember 2019-01-01 2019-06-30 0001075531 bkng:EuroSeniorNotesMember us-gaap:NetInvestmentHedgingMember us-gaap:AccumulatedTranslationAdjustmentMember 2018-12-31 0001075531 us-gaap:DebtSecuritiesMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-12-31 0001075531 us-gaap:ForeignExchangeForwardMember us-gaap:NetInvestmentHedgingMember us-gaap:AccumulatedTranslationAdjustmentMember 2019-06-30 0001075531 bkng:EuroSeniorNotesMember us-gaap:NetInvestmentHedgingMember us-gaap:AccumulatedTranslationAdjustmentMember 2019-06-30 0001075531 bkng:CurrencytranslationadjustmentondeemedrepatriationtaxliabilityMember us-gaap:AccumulatedTranslationAdjustmentMember 2018-12-31 0001075531 us-gaap:DebtSecuritiesMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-06-30 0001075531 bkng:CurrencytranslationadjustmentondeemedrepatriationtaxliabilityMember us-gaap:AccumulatedTranslationAdjustmentMember 2019-06-30 0001075531 us-gaap:DebtSecuritiesMember bkng:NetunrealizedgainslossesondebtsecuritiesMemberMember 2019-06-30 0001075531 us-gaap:DebtSecuritiesMember bkng:NetunrealizedgainslossesondebtsecuritiesMemberMember 2018-12-31 0001075531 us-gaap:AccumulatedTranslationAdjustmentMember 2018-12-31 0001075531 us-gaap:AccumulatedTranslationAdjustmentMember 2019-06-30 0001075531 us-gaap:ForeignExchangeForwardMember us-gaap:NetInvestmentHedgingMember us-gaap:AccumulatedTranslationAdjustmentMember 2018-12-31 0001075531 us-gaap:SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0001075531 bkng:Booking.comMember bkng:HeadquartersMember 2016-07-01 2016-09-30 0001075531 bkng:Rentalcars.comMember bkng:ManchesterEnglandMember bkng:HeadquartersMember 2019-06-30 0001075531 bkng:TurkishTaxAuditMember 2019-01-01 2019-06-30 0001075531 bkng:FrenchTaxAuditMember 2019-01-01 2019-06-30 0001075531 bkng:Rentalcars.comMember bkng:ManchesterEnglandMember bkng:HeadquartersMember bkng:OperatingLeaseObligationsMember 2019-06-30 0001075531 bkng:FrenchDigitalServicesTaxMember 2019-06-30 0001075531 bkng:Booking.comMember bkng:HeadquartersMember bkng:GroundLeaseMember 2019-06-30 0001075531 bkng:TaxesOwedForPriorPeriodsMember 2019-06-30 0001075531 bkng:Booking.comMember bkng:HeadquartersMember 2016-09-30 0001075531 bkng:Booking.comMember bkng:HeadquartersMember 2019-06-30 0001075531 bkng:ItalianTaxAuditMember 2018-01-01 2018-12-31 0001075531 bkng:Rentalcars.comMember bkng:ManchesterEnglandMember bkng:HeadquartersMember 2018-12-31 0001075531 bkng:WagerelatedtaxesowedforpriorperiodsincludinginterestMember 2019-01-01 2019-06-30 0001075531 bkng:TaxesOwedForPriorPeriodsMember 2018-07-01 2018-12-31 0001075531 bkng:FrenchTaxAuditMember 2015-12-01 2015-12-31 xbrli:shares iso4217:USD xbrli:shares iso4217:USD xbrli:pure iso4217:TRY iso4217:EUR bkng:Days iso4217:GBP utreg:sqft


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 10-Q
(Mark One)
      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 
For the quarterly period ended June 30, 2019
OR
         TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 
For the transition period from to
Commission File Number 1-36691
Booking Holdings Inc.
(Exact name of Registrant as specified in its charter) 
Delaware
06-1528493
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification Number)
 
800 Connecticut Avenue
Norwalk, Connecticut 06854
(address of principal executive offices)
Registrant's telephone number, including area code: (203) 299-8000
Former name, former address and former fiscal year, if changed, since last report: N/A
 _____________________________________________________________________________________________
 Securities Registered Pursuant to Section 12(b) of the Act:
Title of Each Class:
 
Trading Symbol
 
Name of Each Exchange on which Registered:
Common Stock par value $0.008 per share
 
BKNG
 
The NASDAQ Global Select Market
0.800% Senior Notes Due 2022
 
BKNG 22A
 
New York Stock Exchange
2.150% Senior Notes Due 2022
 
BKNG 22
 
New York Stock Exchange
2.375% Senior Notes Due 2024
 
BKNG 24
 
New York Stock Exchange
1.800% Senior Notes Due 2027
 
BKNG 27
 
New York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past 90 days.   Yes No .
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).   Yes No .
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act (Check one): 
Large accelerated filer
Accelerated filer
Non-accelerated filer
Smaller reporting company
Emerging growth company
 
 
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).   Yes No
Number of shares of Common Stock outstanding at July 31, 2019:
Common Stock, par value $0.008 per share
 
42,511,903
(Class)
 
(Number of Shares)





Booking Holdings Inc.
Form 10-Q
 
For the Three Months Ended June 30, 2019
 
PART I - FINANCIAL INFORMATION
 
 
 
Item 1. Financial Statements
 
 
Consolidated Balance Sheets at June 30, 2019 (Unaudited) and December 31, 2018
Consolidated Statements of Operations (Unaudited) For the Three and Six Months Ended June 30, 2019 and 2018
Consolidated Statements of Comprehensive Income (Unaudited) For the Three and Six Months Ended June 30, 2019 and 2018
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) For the Three and Six Months Ended June 30, 2019 and 2018
Consolidated Statements of Cash Flows (Unaudited) For the Six Months Ended June 30, 2019 and 2018
Notes to Unaudited Consolidated Financial Statements
 
 
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
 
 
Item 3. Quantitative and Qualitative Disclosures About Market Risk
 
 
Item 4. Controls and Procedures
 
 
PART II - OTHER INFORMATION
 
 
 
Item 1. Legal Proceedings
 
 
Item 1A. Risk Factors
 
 
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
 
 
Item 6. Exhibits
 
 
SIGNATURES

2



PART I — FINANCIAL INFORMATION
Item 1.  Financial Statements

Booking Holdings Inc.
CONSOLIDATED BALANCE SHEETS
(In millions, except share and per share data)
 
 
 
June 30,
2019
 
December 31,
2018
 
 
(Unaudited)
 
 
ASSETS
 
 

 
 

Current assets:
 
 

 
 

Cash and cash equivalents
 
$
5,256

 
$
2,624

Short-term investments in marketable securities
 
1,553

 
3,660

Accounts receivable, net of allowance for doubtful accounts of $56 and $61, respectively
 
1,973

 
1,523

Prepaid expenses and other current assets
 
1,238

 
600

Total current assets
 
10,020

 
8,407

Property and equipment, net
 
716

 
656

Operating lease assets
 
639

 

Intangible assets, net
 
2,041

 
2,125

Goodwill
 
2,915

 
2,910

Long-term investments
 
4,618

 
8,408

Other assets
 
545

 
181

Total assets
 
$
21,494

 
$
22,687

 
 
 
 
 
LIABILITIES AND STOCKHOLDERS' EQUITY
 
 

 
 

Current liabilities:
 
 

 
 

Accounts payable
 
$
1,291

 
$
1,134

Accrued expenses and other current liabilities
 
1,740

 
1,399

Deferred merchant bookings
 
2,343

 
1,022

Convertible debt
 
975

 

Total current liabilities
 
6,349

 
3,555

Deferred income taxes
 
504

 
370

Operating lease liabilities
 
495

 

Long-term U.S. transition tax liability
 
1,063

 
1,166

Other long-term liabilities
 
90

 
162

Long-term debt
 
7,686

 
8,649

  Total liabilities
 
16,187

 
13,902

 
 
 
 
 
Commitments and Contingencies (See Note 13)
 


 


 
 
 
 
 
Stockholders' equity:
 
 

 
 

Common stock, $0.008 par value; authorized 1,000,000,000 shares, 63,143,816 and 62,948,762 shares issued, respectively
 

 

Treasury stock, 20,378,354 and 17,317,126 shares, respectively
 
(20,173
)
 
(14,711
)
Additional paid-in capital
 
5,599

 
5,445

Retained earnings
 
20,111

 
18,367

Accumulated other comprehensive loss
 
(230
)
 
(316
)
  Total stockholders' equity
 
5,307

 
8,785

Total liabilities and stockholders' equity
 
$
21,494

 
$
22,687

See Notes to Unaudited Consolidated Financial Statements.

3



Booking Holdings Inc.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except share and per share data)
 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2019
 
2018
 
2019
 
2018
Agency revenues
 
$
2,607

 
$
2,567

 
$
4,556

 
$
4,680

Merchant revenues
 
959

 
710

 
1,562

 
1,236

Advertising and other revenues
 
284

 
260

 
569

 
549

Total revenues
 
3,850

 
3,537

 
6,687

 
6,465

Operating expenses:
 
 
 
 
 
 

 
 

Performance marketing
 
1,192

 
1,142

 
2,222

 
2,248

Brand marketing
 
175

 
124

 
338

 
225

Sales and other expenses
 
248

 
203

 
463

 
369

Personnel, including stock-based compensation of $79, $75, $153 and $146, respectively
 
619

 
522

 
1,120

 
1,021

General and administrative
 
180

 
159

 
371

 
322

Information technology
 
70

 
59

 
135

 
119

Depreciation and amortization
 
119

 
107

 
235

 
210

Total operating expenses
 
2,603

 
2,316

 
4,884

 
4,514

Operating income
 
1,247

 
1,221

 
1,803

 
1,951

Other income (expense):
 
 
 
 
 
 

 
 

Interest income
 
34

 
46

 
69

 
93

Interest expense
 
(68
)
 
(65
)
 
(134
)
 
(135
)
Net unrealized gains on marketable equity securities
 
17

 
21

 
468

 
76

Foreign currency transactions and other
 
(23
)
 
(13
)
 
(31
)
 
(22
)
Total other (expense) income
 
(40
)
 
(11
)
 
372

 
12

Earnings before income taxes
 
1,207

 
1,210

 
2,175

 
1,963

Income tax expense
 
228

 
232

 
431

 
378

Net income
 
$
979

 
$
978

 
$
1,744

 
$
1,585

Net income applicable to common stockholders per basic common share
 
$
22.62

 
$
20.34

 
$
39.52

 
$
32.87

Weighted-average number of basic common shares outstanding (in 000's)
 
43,251

 
48,055

 
44,124

 
48,202

Net income applicable to common stockholders per diluted common share
 
$
22.44

 
$
20.13

 
$
39.17

 
$
32.42

Weighted-average number of diluted common shares outstanding (in 000's)
 
43,601

 
48,550

 
44,514

 
48,877



See Notes to Unaudited Consolidated Financial Statements.


4



Booking Holdings Inc.
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions)

 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2019
 
2018
 
2019
 
2018
Net income (1)
 
$
979

 
$
978

 
$
1,744

 
$
1,585

Other comprehensive (loss) income, net of tax
 
 
 
 
 
 
 
 
Foreign currency translation adjustments, net of tax benefits (charges) of $15, ($36), $7 and ($20), respectively (2)
 
(16
)
 
(129
)
 
(28
)
 
(68
)
Net unrealized (losses) gains on debt securities, net of tax benefits (charges) of $15, ($1), ($36) and $1, respectively (1)
 
(45
)
 
(5
)
 
114

 
(5
)
 
 
 
 
 
 
 
 
 
Comprehensive income
 
$
918

 
$
844

 
$
1,830

 
$
1,512


(1) The Company reclassified from accumulated other comprehensive income net gains of $10 million ($9 million, net of tax) and $11 million ($10 million, net of tax) for the three and six months ended June 30, 2019, respectively, and a net loss of $1 million ($1 million, net of tax) for the six months ended June 30, 2018 from sales of investments in debt securities. The reclassified net gains (losses) are included in "Foreign currency transactions and other" in the Unaudited Consolidated Statements of Operations.

(2) Foreign currency translation adjustments result from currency fluctuations on the translation of the Company's non-U.S. Dollar functional currency subsidiaries' net assets, net of the impact of net investment hedges.

The Company recorded tax benefits of $4 million and $15 million for the three and six months ended June 30, 2019, respectively, and tax benefits of $21 million and $11 million for the three and six months ended June 30, 2018, respectively, related to foreign currency translation adjustments to its one-time deemed repatriation tax liability recorded at December 31, 2017 and foreign earnings for periods after December 31, 2017 that are subject to U.S. federal and state income tax, resulting from the introduction of the U.S. Tax Cuts and Jobs Act (the "Tax Act").

Foreign currency translation adjustments also include a tax benefit of $11 million and a tax charge of $8 million for the three and six months ended June 30, 2019, respectively, and tax charges of $57 million and $31 million for the three and six months ended June 30, 2018, respectively, associated with the Company's Euro-denominated debt that is designated as a net investment hedge against the impact of currency fluctuations on the net assets of a Euro functional currency subsidiary (see Note 9). 


See Notes to Unaudited Consolidated Financial Statements.

5



Booking Holdings Inc.
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2019
(In millions except share data)
 

 
 
Common Stock
 
Treasury Stock
 
Additional Paid-in Capital
 
Retained Earnings
 
Accumulated Other Comprehensive Income (Loss)
 
 
 
 
Shares
(in 000's)
 
Amount
 
Shares
(in 000's)
 
Amount
 
 
 
 
Total
Balance, March 31, 2019
 
63,122

 
$

 
(18,936
)
 
$
(17,567
)
 
$
5,519

 
$
19,132

 
$
(169
)
 
$
6,915

Net income
 

 

 

 

 

 
979

 

 
979

Foreign currency translation adjustments
 

 

 

 

 

 

 
(16
)
 
(16
)
Net unrealized losses on debt securities
 

 

 

 

 

 

 
(45
)
 
(45
)
Exercise of stock options and vesting of restricted stock units and performance share units
 
22

 

 

 

 
1

 

 

 
1

Repurchase of common stock
 

 

 
(1,442
)
 
(2,606
)
 

 

 

 
(2,606
)
Stock-based compensation and other stock-based payments
 

 

 

 

 
79

 

 

 
79

Balance, June 30, 2019
 
63,144

 
$

 
(20,378
)
 
$
(20,173
)
 
$
5,599

 
$
20,111

 
$
(230
)
 
$
5,307



 
 
Common Stock
 
Treasury Stock
 
Additional Paid-in Capital
 
Retained Earnings
 
Accumulated Other Comprehensive Income (Loss)
 
 
 
 
Shares
(in 000's)
 
Amount
 
Shares
(in 000's)
 
Amount
 
 
 
 
Total
Balance, December 31, 2018
 
62,949

 
$

 
(17,317
)
 
$
(14,711
)
 
$
5,445

 
$
18,367

 
$
(316
)
 
$
8,785

Net income
 

 

 

 

 

 
1,744

 

 
1,744

Foreign currency translation adjustments
 

 

 

 

 

 

 
(28
)
 
(28
)
Net unrealized gains on debt securities
 

 

 

 

 

 

 
114

 
114

Exercise of stock options and vesting of restricted stock units and performance share units
 
195

 

 

 

 
1

 

 

 
1

Repurchase of common stock
 

 

 
(3,061
)
 
(5,462
)
 

 

 

 
(5,462
)
Stock-based compensation and other stock-based payments
 

 

 

 

 
153

 

 

 
153

Balance, June 30, 2019
 
63,144

 
$

 
(20,378
)
 
$
(20,173
)
 
$
5,599

 
$
20,111

 
$
(230
)
 
$
5,307




See Notes to Unaudited Consolidated Financial Statements.




6



Booking Holdings Inc.
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2018
(In millions except share data)

 
 
 
Common Stock
 
Treasury Stock
 
Additional Paid-in Capital
 
Retained Earnings
 
Accumulated Other Comprehensive Income (Loss)
 
 
 
 
Shares
(in 000's)
 
Amount
 
Shares
(in 000's)
 
Amount
 
 
 
 
Total
Balance, March 31, 2018
 
62,838

 
$

 
(14,590
)
 
$
(9,431
)
 
$
5,033

 
$
14,976

 
$
58

 
$
10,636

Net income
 

 

 

 

 

 
978

 

 
978

Foreign currency translation adjustments
 

 

 

 

 

 

 
(129
)
 
(129
)
Net unrealized losses on debt securities
 

 

 

 

 

 

 
(5
)
 
(5
)
Reclassification adjustment for convertible debt in mezzanine
 

 

 

 

 
5

 

 

 
5

Exercise of stock options and vesting of restricted stock units and performance share units
 
37

 

 

 

 
1

 

 

 
1

Repurchase of common stock
 

 

 
(573
)
 
(1,199
)
 

 

 

 
(1,199
)
Stock-based compensation and other stock-based payments
 

 

 

 

 
76

 

 

 
76

Common stock issued in an acquisition
 
52

 

 

 

 
110

 

 

 
110

Balance, June 30, 2018
 
62,927

 
$

 
(15,163
)
 
$
(10,630
)
 
$
5,225

 
$
15,954

 
$
(76
)
 
$
10,473



 
 
Common Stock
 
Treasury Stock
 
Additional Paid-in Capital
 
Retained Earnings
 
Accumulated Other Comprehensive Income (Loss)
 
 
 
 
Shares
(in 000's)
 
Amount
 
Shares
(in 000's)
 
Amount
 
 
 
 
Total
Balance, December 31, 2017
 
62,689

 
$

 
(14,217
)
 
$
(8,699
)
 
$
5,783

 
$
13,939

 
$
238

 
$
11,261

Cumulative effect of adoption of accounting standards updates
 

 

 

 

 

 
430

 
(241
)
 
189

Net income
 

 

 

 

 

 
1,585

 

 
1,585

Foreign currency translation adjustments
 

 

 

 

 

 

 
(68
)
 
(68
)
Net unrealized losses on debt securities
 

 

 

 

 

 

 
(5
)
 
(5
)
Reclassification adjustment for convertible debt in mezzanine
 

 

 

 

 
(43
)
 

 

 
(43
)
Exercise of stock options and vesting of restricted stock units and performance share units
 
186

 

 

 

 
1

 

 

 
1

Repurchase of common stock
 

 

 
(946
)
 
(1,931
)
 

 

 

 
(1,931
)
Stock-based compensation and other stock-based payments
 

 

 

 

 
147

 

 

 
147

Conversion of debt
 

 

 

 

 
(773
)
 

 

 
(773
)
Common stock issued in an acquisition
 
52

 

 

 

 
110

 

 

 
110

Balance, June 30, 2018
 
62,927

 
$

 
(15,163
)
 
$
(10,630
)
 
$
5,225

 
$
15,954

 
$
(76
)
 
$
10,473



See Notes to Unaudited Consolidated Financial Statements.


7



Booking Holdings Inc.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
 
 
Six Months Ended
June 30,
 
 
2019
 
2018
OPERATING ACTIVITIES:
 
 
 
 
Net income
 
$
1,744

 
$
1,585

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
 

Depreciation and amortization
 
235

 
210

Provision for uncollectible accounts
 
74

 
62

Deferred income tax expense (benefit)
 
60

 
(21
)
Net unrealized gains on marketable equity securities
 
(468
)
 
(76
)
Stock-based compensation expense and other stock-based payments
 
162

 
150

Operating lease amortization
 
85

 

Amortization of debt discount and debt issuance costs
 
28

 
30

Contingent consideration fair value adjustment
 
9

 

Changes in assets and liabilities, net of effects of acquisitions:
 
 
 
 

Accounts receivable
 
(523
)
 
(392
)
Prepaid expenses and other current assets
 
(584
)
 
(574
)
Accounts payable, accrued expenses and other current liabilities
 
1,513

 
1,329

Other long-term assets and liabilities
 
(398
)
 
(13
)
Net cash provided by operating activities
 
1,937

 
2,290

 
 
 
 
 
INVESTING ACTIVITIES:
 
 
 
 

Purchase of investments
 
(580
)
 
(1,360
)
Proceeds from sale and maturity of investments
 
6,977

 
3,497

Additions to property and equipment
 
(199
)
 
(235
)
Acquisitions and other investments, net of cash acquired
 
(9
)
 
(139
)
Net cash provided by investing activities
 
6,189

 
1,763

 
 
 
 
 
FINANCING ACTIVITIES:
 
 
 
 
Proceeds from revolving credit facility and short-term borrowings
 
437

 
3

Repayments of revolving credit facility and short-term borrowings
 
(425
)
 

Payments for conversion of senior notes
 

 
(1,487
)
Payments for repurchase of common stock
 
(5,491
)
 
(1,905
)
Other financing activities
 
(8
)
 
1

Net cash used in financing activities
 
(5,487
)
 
(3,388
)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents
 
(8
)
 
(20
)
Net increase in cash and cash equivalents and restricted cash and cash equivalents
 
2,631

 
645

Total cash and cash equivalents and restricted cash and cash equivalents, beginning of period
 
2,645

 
2,563

Total cash and cash equivalents and restricted cash and cash equivalents, end of period
 
$
5,276

 
$
3,208

 
 
 
 
 
SUPPLEMENTAL CASH FLOW INFORMATION:
 
 
 
 
Cash paid during the period for income taxes
 
$
949

 
$
985

Cash paid during the period for interest
 
$
101

 
$
101

Non-cash operating and financing activity for an acquisition (see Note 8)
 
$

 
$
51

Non-cash investing and financing activity for an acquisition (see Note 8)
 
$

 
$
59

See Notes to Unaudited Consolidated Financial Statements.

8



Booking Holdings Inc.
Notes to Unaudited Consolidated Financial Statements
 
1.                                      BASIS OF PRESENTATION
 
Management of Booking Holdings Inc. (the "Company") is responsible for the Unaudited Consolidated Financial Statements included in this document. The Unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and include all normal and recurring adjustments that management of the Company considers necessary for a fair presentation of its financial position and operating results. The Company prepared the Unaudited Consolidated Financial Statements following the requirements of the Securities and Exchange Commission for interim reporting. As permitted under those rules, the Company condensed or omitted certain footnotes or other financial information that are normally required by GAAP for annual financial statements. These statements should be read in combination with the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2018.
 
The Unaudited Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries, including its primary brands of Booking.com, KAYAK, priceline, agoda, Rentalcars.com and OpenTable. All inter-company accounts and transactions have been eliminated in consolidation. The functional currency of the Company's subsidiaries is generally the respective local currency. For international operations, assets and liabilities are translated into U.S. Dollars at the rate of exchange existing at the balance sheet date. Income statement amounts are translated at monthly average exchange rates applicable for the period. Translation gains and losses are included as a component of "Accumulated other comprehensive loss" in the accompanying Consolidated Balance Sheets. Foreign currency transaction gains and losses are included in "Foreign currency transactions and other" in the Unaudited Consolidated Statements of Operations.
 
Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be the same as those for any subsequent quarter or the full year.

Unaudited Consolidated Statements of Comprehensive Income

Subsequent to the issuance of the Company’s unaudited interim consolidated financial statements for the three and nine months ended September 30, 2018, the Company identified an error in the previously issued Unaudited Consolidated Statements of Comprehensive Income associated with the Company’s adoption of a new accounting update during the first quarter of 2018. This new accounting update amended the guidance on the recognition and measurement of financial instruments. The effect of adopting this new accounting update resulted in an increase of $241 million to the Company’s retained earnings for the net unrealized gain, net of tax, related to marketable equity securities, with an offsetting adjustment to accumulated other comprehensive income as of January 1, 2018. However, in the Unaudited Consolidated Statements of Comprehensive Income for the three months ended March 31, 2018, six months ended June 30, 2018 and nine months ended September 30, 2018, the Company incorrectly presented the $241 million as a component of other comprehensive income (referred to as “Reclassification of net unrealized gains on marketable equity securities to retained earnings, net of tax charge”). Accordingly, the Company corrected the foregoing presentation error in the accompanying Unaudited Consolidated Statement of Comprehensive Income for the six months ended June 30, 2018 in this Form 10-Q. As a result of this correction, total comprehensive income in the Company’s previously reported Unaudited Consolidated Statement of Comprehensive Income increased from $1.3 billion to $1.5 billion for the six months ended June 30, 2018. The correction of this error had no effect on the Company’s previously reported Consolidated Balance Sheets, Unaudited Consolidated Statements of Operations, Unaudited Consolidated Statements of Changes in Stockholders’ Equity and Unaudited Consolidated Statements of Cash Flows. The effect of adopting this new accounting update has been presented correctly in the audited Consolidated Statement of Comprehensive Income included in the Consolidated Financial Statements in the Form 10-K for the year ended December 31, 2018. The Company presented the correction in the Unaudited Consolidated Statement of Comprehensive Income for the three months ended March 31, 2018 included in the Form 10-Q for the first quarter of 2019 and will present the correction in the Unaudited Consolidated Statement of Comprehensive Income for the nine months ended September 30, 2018 to be included in the Form 10-Q for the third quarter of 2019.

Reclassifications — Certain amounts from prior periods have been reclassified to conform to the current year presentation.


9



Restricted Cash and Cash Equivalents: Restricted cash and cash equivalents at June 30, 2019 and December 31, 2018 principally relates to the minimum cash requirement for Rentalcars.com's insurance business established in 2017. The following table reconciles cash and cash equivalents and restricted cash and cash equivalents reported in the Consolidated Balance Sheets to the total amount shown in the Unaudited Consolidated Statements of Cash Flows (in millions):
 
 
June 30,
2019
 
December 31,
2018
As included in the Consolidated Balance Sheets:
 
 
 
 
Cash and cash equivalents