Cover and table of contents
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Cover and table of contents
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 March 31, 2024
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 No.) |
800 Connecticut Avenue
Norwalk, Connecticut 06854
(Address of principal executive offices) (Zip Code)
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(s) | Name of each exchange on which registered: | ||||||||||||
| Common Stock par value $0.008 per share | BKNG | The NASDAQ Global Select Market | ||||||||||||
| 2.375% Senior Notes Due 2024 | BKNG 24 | The NASDAQ Stock Market LLC | ||||||||||||
| 0.100% Senior Notes Due 2025 | BKNG 25 | The NASDAQ Stock Market LLC | ||||||||||||
| 4.000% Senior Notes Due 2026 | BKNG 26 | The NASDAQ Stock Market LLC | ||||||||||||
| 1.800% Senior Notes Due 2027 | BKNG 27 | The NASDAQ Stock Market LLC | ||||||||||||
| 0.500% Senior Notes Due 2028 | BKNG 28 | The NASDAQ Stock Market LLC | ||||||||||||
| 3.625% Senior Notes Due 2028 | BKNG 28A | The NASDAQ Stock Market LLC | ||||||||||||
| 4.250% Senior Notes Due 2029 | BKNG 29 | The NASDAQ Stock Market LLC | ||||||||||||
| 3.500% Senior Notes Due 2029 | BKNG 29A | The NASDAQ Stock Market LLC | ||||||||||||
| 4.500% Senior Notes Due 2031 | BKNG 31 | The NASDAQ Stock Market LLC | ||||||||||||
| 3.625% Senior Notes Due 2032 | BKNG 32 | The NASDAQ Stock Market LLC | ||||||||||||
| 4.125% Senior Notes Due 2033 | BKNG 33 | The NASDAQ Stock Market LLC | ||||||||||||
| 4.750% Senior Notes Due 2034 | BKNG 34 | The NASDAQ Stock Market LLC | ||||||||||||
| 3.750% Senior Notes Due 2036 | BKNG 36 | The NASDAQ Stock Market LLC | ||||||||||||
| 4.000% Senior Notes Due 2044 | BKNG 44 | The NASDAQ Stock Market LLC |
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.
| 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 Exchange Act). Yes ☐ No ☒
Number of shares of Common Stock outstanding at April 25, 2024:
| Common Stock, par value $0.008 per share | 33,927,537 | |||||||
| (Class) | (Number of Shares) |
Booking Holdings Inc.
Form 10-Q
For the Three Months Ended March 31, 2024
| PART I - FINANCIAL INFORMATION | |||||
| Item 1. Financial Statements | 4 | ||||
| Consolidated Balance Sheets at March 31, 2024 (Unaudited) and December 31, 2023 | 4 | ||||
| Consolidated Statements of Operations (Unaudited) For the Three Months Ended March 31, 2024 and 2023 | 5 | ||||
| Consolidated Statements of Comprehensive Income (Unaudited) For the Three Months Ended March 31, 2024 and 2023 | 6 | ||||
| Consolidated Statements of Changes in Stockholders' (Deficit) Equity (Unaudited) For the Three Months Ended March 31, 2024 and 2023 | 7 | ||||
| Consolidated Statements of Cash Flows (Unaudited) For the Three Months Ended March 31, 2024 and 2023 | 8 | ||||
| Notes to Unaudited Consolidated Financial Statements | 9 | ||||
| Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations | 24 | ||||
| Item 3. Quantitative and Qualitative Disclosures About Market Risk | 37 | ||||
| Item 4. Controls and Procedures | 38 | ||||
| PART II - OTHER INFORMATION | |||||
| Item 1. Legal Proceedings | 39 | ||||
| Item 1A. Risk Factors | 39 | ||||
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | 39 | ||||
| Item 6. Exhibits | 40 | ||||
| SIGNATURES | 41 |
PART I — FINANCIAL INFORMATION
Next: Item 1. Financial Statements