For the year ending 2025-12-31, EXPE had $1,402M increase in cash & cash equivalents over the period. $3,110M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 1,301 | 1,224 | 688 | 343 |
| Depreciation of property and equipment, including internal-use software and website development | 847 | 781 | 748 | 704 |
| Amortization of stock-based compensation | 398 | 458 | 413 | 374 |
| Amortization of intangible assets | 40 | 57 | 59 | 88 |
| Impairment of goodwill and intangible assets | 0 | 147 | - | - |
| Impairment of goodwill, intangible and other long-term assets | - | - | 426 | 81 |
| Deferred income taxes | 78 | 74 | 62 | 70 |
| Foreign exchange (gain) loss on cash, restricted cash and short-term investments, net | 120 | -95 | 16 | -128 |
| Realized (gain) loss on foreign currency forwards, net | 128 | -40 | 0 | -78 |
| (gain) loss on minority equity investments, net | -167 | 289 | 16 | -345 |
| (gain) loss on debt extinguishment, net | - | 0 | 0 | 49 |
| Gain on sale of business, net | - | - | 25 | 6 |
| Provision for credit losses and other, net | - | - | - | 23 |
| Other | 124 | 79 | 80 | - |
| Accounts receivable | 983 | 467 | 741 | 838 |
| Prepaid expenses and other assets | 3 | -67 | -98 | -55 |
| Accounts payable, merchant | 155 | -10 | 332 | 375 |
| Accounts payable, other, accrued expenses and other liabilities | 163 | -11 | 101 | 196 |
| Tax payable/receivable, net | -17 | 46 | -91 | 11 |
| Deferred merchant bookings | 1,858 | 794 | 572 | 1,464 |
| Deferred revenue | - | - | - | -2 |
| Net cash provided by operating activities | 3,880 | 3,085 | 2,690 | 3,440 |
| Capital expenditures, including internal-use software and website development | 770 | 756 | 846 | 662 |
| Purchases of investments | 628 | 549 | 28 | 60 |
| Sales and maturities of investments | 747 | 78 | 49 | 205 |
| Cash and restricted cash divested from sale of business, net of proceeds | - | - | 25 | 4 |
| Proceeds from initial exchange of cross-currency interest rate swaps | - | 0 | 0 | 337 |
| Payments for initial exchange of cross-currency interest rate swaps | - | 0 | 0 | 337 |
| Other, net | -120 | 35 | 0 | 67 |
| Net cash used in investing activities | -531 | -1,262 | -800 | -580 |
| Revolving credit facility borrowings | - | - | - | 0 |
| Revolving credit facility repayments | - | - | - | 0 |
| Proceeds from issuance of long-term debt, net of issuance costs | 985 | - | 0 | 0 |
| Payment of long-term debt | 1,044 | 0 | 0 | 2,141 |
| Debt extinguishment costs | - | 0 | 0 | 22 |
| Net proceeds from issuance of preferred stock and warrants | - | - | - | 0 |
| Redemption of preferred stock | - | - | 0 | 0 |
| Purchases of treasury stock | 1,930 | 1,839 | 2,137 | 607 |
| Payment of dividends to preferred stockholders | - | - | 0 | 0 |
| Payment of dividends to stockholders | 200 | - | - | - |
| Proceeds from exercise of equity awards and employee stock purchase plan | 50 | 116 | 101 | 131 |
| Other, net | 3 | -22 | -60 | 15 |
| Net cash used in financing activities | -2,136 | -1,745 | -2,096 | -2,624 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents | 189 | -165 | 16 | -190 |
| Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents | 1,402 | -87 | -190 | 46 |
| Cash and cash equivalents at beginning of period | 5,574 | 5,661 | 5,851 | 5,805 |
| Cash and cash equivalents at end of period | 6,976 | 5,574 | 5,661 | 5,851 |
Expedia Group, Inc. (EXPE)
Expedia Group, Inc. (EXPE)