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Microsoft Excel LibreOffice Calc

Booking Holdings Inc. (BKNG)


Analysis of Property, Plant and Equipment

Advanced level


Accounting Policy on Property, Plant and Equipment

Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets or, when applicable, the life of the lease related to leasehold improvements, whichever is shorter.

Building Construction-in-progress

Building construction-in-progress is associated with the construction of an office building in the Netherlands and is included in “Property and equipment, net” in the Consolidated Balance Sheets. Depreciation of the building and its related components will commence once it is ready for Booking Holdings’ use.

Website and Internal-use Software Capitalization

Certain direct development costs associated with website and internal-use software are capitalized and include external direct costs of services and payroll costs for employees devoting time to the software projects principally related to platform development, including support systems, software coding, designing system interfaces and installation and testing of the software. These costs are recorded as property and equipment and are generally amortized over a period of two to five years beginning when the asset is substantially ready for use. Costs incurred for enhancements that are expected to result in additional features or functionalities are capitalized and amortized over the estimated useful life of the enhancements. Costs incurred during the preliminary project stage, as well as maintenance and training costs, are expensed as incurred. Additions to capitalized costs during the years ended December 31, 2018, 2017 and 2016 were $97 million, $80 million and $54 million, respectively.

Source: 10-K (filing date: 2019-02-27).


Property, Plant and Equipment Disclosure

Booking Holdings Inc., balance sheet: property, plant and equipment

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Computer equipment and software hidden hidden hidden hidden hidden
Leasehold improvements hidden hidden hidden hidden hidden
Office equipment, furniture and fixtures hidden hidden hidden hidden hidden
Building construction-in-progress hidden hidden hidden hidden hidden
Property and equipment, gross hidden hidden hidden hidden hidden
Accumulated depreciation hidden hidden hidden hidden hidden
Property and equipment, net hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-17), 10-K (filing date: 2015-02-19).

Item Description The company
Property and equipment, gross Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Booking Holdings Inc.’s property and equipment, gross increased from 2016 to 2017 and from 2017 to 2018.
Property and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Booking Holdings Inc.’s property and equipment, net increased from 2016 to 2017 and from 2017 to 2018.

Asset Age Ratios (Summary)

Booking Holdings Inc., asset age ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Average age ratio hidden hidden hidden hidden hidden
Estimated total useful life (years) hidden hidden hidden hidden hidden
Estimated age, time elapsed since purchase (years) hidden hidden hidden hidden hidden
Estimated remaining life (years) hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-17), 10-K (filing date: 2015-02-19).

Asset age ratio Description The company
Average age ratio As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company’s fixed asset base is old or new. Newer assets are likely to be more efficient. Booking Holdings Inc.’s average age ratio of depreciable property, plant and equipment deteriorated from 2016 to 2017 but then improved from 2017 to 2018 not reaching 2016 level.
Estimated total useful life Over longer time periods, this ratio is a useful measure of company’s depreciation policy and can be used for comparisons with competitors. Booking Holdings Inc.’s estimated total useful life of depreciable property, plant and equipment increased from 2016 to 2017 but then slightly decreased from 2017 to 2018.
Estimated time elapsed since purchase The approximate age in years of a company’s fixed assets. Useful for comparison purposes. Booking Holdings Inc.’s estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2016 to 2017 but then slightly improved from 2017 to 2018.
Estimated remaining life Booking Holdings Inc.’s estimated remaining life of depreciable property, plant and equipment increased from 2016 to 2017 and from 2017 to 2018.

Average Age

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in millions)
Accumulated depreciation hidden hidden hidden hidden hidden
Property and equipment, gross hidden hidden hidden hidden hidden
Asset Age Ratio
Average age1 hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-17), 10-K (filing date: 2015-02-19).

2018 Calculations

1 Average age = 100 × Accumulated depreciation ÷ Property and equipment, gross
= 100 × hidden ÷ hidden = hidden

Asset age ratio Description The company
Average age As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company’s fixed asset base is old or new. Newer assets are likely to be more efficient. Booking Holdings Inc.’s average age ratio of depreciable property, plant and equipment deteriorated from 2016 to 2017 but then improved from 2017 to 2018 not reaching 2016 level.

Estimated Total Useful Life

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in millions)
Property and equipment, gross hidden hidden hidden hidden hidden
Depreciation expense hidden hidden hidden hidden hidden
Asset Age Ratio (Years)
Estimated total useful life1 hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-17), 10-K (filing date: 2015-02-19).

2018 Calculations

1 Estimated total useful life = Property and equipment, gross ÷ Depreciation expense
= hidden ÷ hidden = hidden

Asset age ratio Description The company
Estimated total useful life Over longer time periods, this ratio is a useful measure of company’s depreciation policy and can be used for comparisons with competitors. Booking Holdings Inc.’s estimated total useful life of depreciable property, plant and equipment increased from 2016 to 2017 but then slightly decreased from 2017 to 2018.

Estimated Age, Time Elapsed since Purchase

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in millions)
Accumulated depreciation hidden hidden hidden hidden hidden
Depreciation expense hidden hidden hidden hidden hidden
Asset Age Ratio (Years)
Time elapsed since purchase1 hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-17), 10-K (filing date: 2015-02-19).

2018 Calculations

1 Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= hidden ÷ hidden = hidden

Asset age ratio Description The company
Estimated time elapsed since purchase The approximate age in years of a company’s fixed assets. Useful for comparison purposes. Booking Holdings Inc.’s estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2016 to 2017 but then slightly improved from 2017 to 2018.

Estimated Remaining Life

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in millions)
Property and equipment, net hidden hidden hidden hidden hidden
Depreciation expense hidden hidden hidden hidden hidden
Asset Age Ratio (Years)
Estimated remaining life1 hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-17), 10-K (filing date: 2015-02-19).

2018 Calculations

1 Estimated remaining life = Property and equipment, net ÷ Depreciation expense
= hidden ÷ hidden = hidden

Asset age ratio Description The company
Estimated remaining life Booking Holdings Inc.’s estimated remaining life of depreciable property, plant and equipment increased from 2016 to 2017 and from 2017 to 2018.