For the quarter ending 2026-03-31, HLT had -$351M decrease in cash & cash equivalents over the period. $609M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income (loss) | 383 | 298 | 421 | 442 |
| Amortization of contract acquisition costs | 15 | 15 | 15 | 13 |
| Depreciation and amortization expenses | 50 | 47 | 46 | 43 |
| Impairment losses | - | 0 | - | - |
| Gain on sales of assets, net | - | 0 | 0 | 0 |
| Loss (gain) on foreign currency transactions | -5 | -3 | -9 | -1 |
| Loss on investments in unconsolidated affiliate | - | 0 | - | - |
| Share-based compensation expense | 45 | 35 | 44 | 55 |
| Amortization of deferred financing costs and discounts | - | 19 | - | - |
| Deferred income taxes | -25 | 34 | 48 | 3 |
| Contract acquisition costs, net of refunds | 26 | 128 | 31 | 42 |
| Accounts receivable, net | - | 99 | - | - |
| Prepaid expenses | - | 23 | - | - |
| Other current assets | - | -10 | - | - |
| Accounts payable, accrued expenses and other | - | 212 | - | - |
| Change in deferred revenues | 36 | 451 | 6 | 78 |
| Change in liability for guest loyalty program | 108 | -279 | 32 | 41 |
| Change in other liabilities | - | -56 | - | - |
| Working capital changes and other | 27 | -336 | 226 | 24 |
| Net cash provided by operating activities | 618 | 203 | 816 | 658 |
| Capital expenditures for property and equipment | 9 | 30 | 29 | 23 |
| Cash paid for acquisitions, net of cash acquired | - | 2 | 0 | 2 |
| Issuance of financing receivables | 10 | 3 | 0 | 0 |
| Payments received on financing receivables | - | 0 | - | - |
| Settlements of undesignated derivative financial instruments | -3 | 2 | -7 | -9 |
| Proceeds from asset dispositions | - | 0 | 0 | 0 |
| Capitalized software costs | 22 | 22 | 21 | 20 |
| Investments in unconsolidated affiliates | - | 1 | 1 | 0 |
| Other | 1 | - | - | - |
| Net cash used in investing activities | -39 | -60 | -44 | -36 |
| Borrowings | - | 1,000 | 1,225 | 650 |
| Repayment of debt | 8 | 509 | 526 | 871 |
| Debt issuance costs | 6 | 12 | 15 | 0 |
| Dividends paid | 35 | 35 | 35 | 36 |
| Repurchases of common stock | 821 | 779 | 759 | 769 |
| Share-based compensation tax withholdings | 71 | 0 | 0 | 1 |
| Proceeds from share-based compensation | 11 | 29 | 7 | 31 |
| Settlements of interest rate swap with financing component | 7 | 10 | 11 | 10 |
| Net cash used in financing activities | -923 | -296 | -92 | -986 |
| Effect of exchange rate changes on cash, restricted cash and cash equivalents | -7 | -3 | -2 | 5 |
| Net decrease in cash, restricted cash and cash equivalents | -351 | -156 | 678 | -359 |
| Cash, restricted cash and cash equivalents, beginning of period | 970 | 1,126 | 448 | 807 |
| Cash, restricted cash and cash equivalents, end of period | 619 | 970 | 1,126 | 448 |
Hilton Worldwide Holdings Inc. (HLT)
Hilton Worldwide Holdings Inc. (HLT)