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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net income $ 572 $ 398 $ 372
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of property and equipment, including internal-use software and website development 712 676 614
Amortization of stock-based compensation 241 203 149
Amortization and impairment of intangible assets 198 325 275
Impairment of goodwill 0 86 0
Deferred income taxes (91) (308) (103)
Foreign exchange (gain) loss on cash, restricted cash and short-term investments, net (5) 111 (79)
Realized (gain) loss on foreign currency forwards (22) (31) (6)
(Gain) loss on minority equity investments, net (8) 111 14
Other (21) 22 (30)
Changes in operating assets and liabilities, net of effects from acquisitions:      
Accounts receivable (368) (282) (456)
Prepaid expenses and other assets (193) (29) (71)
Accounts payable, merchant 224 (134) 316
Accounts payable, other, accrued expenses and other liabilities 254 196 257
Tax payable/receivable, net (23) 102 (30)
Deferred merchant bookings 1,342 489 593
Deferred revenue (45) 40 30
Net cash provided by operating activities 2,767 1,975 1,845
Investing activities:      
Capital expenditures, including internal-use software and website development (1,160) (878) (710)
Purchases of investments (1,346) (1,803) (1,811)
Sales and maturities of investments 852 2,137 1,096
Acquisitions, net of cash and restricted cash acquired 80 (53) (169)
Other, net 21 38 13
Net cash used in investing activities (1,553) (559) (1,581)
Financing activities:      
Proceeds from issuance of long-term debt, net of issuance costs 1,231 0 990
Payment of long-term debt 0 (500) 0
Payment of Liberty Expedia Exchangeable Debentures (400) 0 0
Purchases of treasury stock (743) (923) (312)
Proceeds from issuance of treasury stock 0 31 0
Payment of dividends to stockholders (195) (186) (176)
Proceeds from exercise of equity awards and employee stock purchase plan 301 166 229
Changes in controlled subsidiaries, net (28) (62) (18)
Other, net 9 (15) (25)
Net cash provided by (used in) financing activities 175 (1,489) 688
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents 3 (139) 147
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents 1,392 (212) 1,099
Cash, cash equivalents and restricted cash and cash equivalents at beginning of year 2,705 2,917 1,818
Cash, cash equivalents and restricted cash and cash equivalents at end of year 4,097 2,705 2,917
Supplemental cash flow information      
Cash paid for interest 157 196 163
Income tax payments, net $ 304 $ 282 $ 174