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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities:      
Net income $ 398 $ 372 $ 261
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of property and equipment, including internal-use software and website development 676 614 477
Amortization of stock-based compensation 203 149 242
Amortization and impairment of intangible assets 325 275 352
Impairment of goodwill 86 0 0
Deferred income taxes (308) (103) (14)
Foreign exchange (gain) loss on cash, restricted cash and short-term investments, net 111 (79) 16
Realized (gain) loss on foreign currency forwards (31) (6) 53
Loss on minority equity investments, net 111 14 12
Other 22 (30) (4)
Changes in operating assets and liabilities, net of effects from acquisitions:      
Accounts receivable (282) (456) (276)
Prepaid expenses and other assets (29) (71) (45)
Accounts payable, merchant (134) 316 184
Accounts payable, other, accrued expenses and other current liabilities 196 257 79
Tax payable/receivable, net 102 (30) (100)
Deferred merchant bookings 489 593 261
Deferred revenue 40 30 51
Net cash provided by operating activities 1,975 1,845 1,549
Investing activities:      
Capital expenditures, including internal-use software and website development (878) (710) (749)
Purchases of investments (1,803) (1,811) (45)
Sales and maturities of investments 2,137 1,096 61
Acquisitions, net of cash and restricted cash acquired (53) (169) (1)
Other, net 38 13 16
Net cash used in investing activities (559) (1,581) (718)
Financing activities:      
Payment of long-term debt (500) 0 0
Proceeds from issuance of long-term debt, net of issuance costs 0 990 (2)
Payment of HomeAway Convertible Notes 0 0 (401)
Purchases of treasury stock (923) (312) (456)
Proceeds from issuance of treasury stock 31 0 0
Payment of dividends to stockholders (186) (176) (150)
Proceeds from exercise of equity awards and employee stock purchase plan 166 229 141
Changes in controlled subsidiaries, net (62) (18) 208
Other, net (15) (25) (31)
Net cash provided by (used in) financing activities (1,489) 688 (691)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents (139) 147 (35)
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents (212) 1,099 105
Cash, cash equivalents and restricted cash and cash equivalents at beginning of year 2,917 1,818 1,713
Cash, cash equivalents and restricted cash and cash equivalents at end of year 2,705 2,917 1,818
Supplemental cash flow information      
Cash paid for interest 196 163 154
Income tax payments, net $ 282 $ 174 $ 124