Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Booking Holdings Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash and cash equivalents	17,203)	16,164)	12,107)	12,221)	11,127)
Short-term investments	—)	—)	576)	175)	25)
Accounts receivable, net of allowance for expected credit losses	3,820)	3,199)	3,253)	2,229)	1,358)
Prepaid expenses, net	611)	587)	644)	477)	404)
Other current assets	630)	541)	454)	696)	231)
Current assets	22,264)	20,491)	17,034)	15,798)	13,145)
Property and equipment, net	807)	832)	784)	669)	822)
Operating lease assets	632)	559)	705)	645)	496)
Intangible assets, net	918)	1,382)	1,613)	1,829)	2,057)
Goodwill	2,669)	2,799)	2,826)	2,807)	2,887)
Long-term investments	582)	536)	440)	2,789)	3,175)
Other assets, net	1,392)	1,109)	940)	824)	1,059)
Long-term assets	7,000)	7,217)	7,308)	9,563)	10,496)
Total assets	29,264)	27,708)	24,342)	25,361)	23,641)

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

Total assets exhibited a generally increasing trend over the five-year period, though with some fluctuation. Beginning at US$23,641 million in 2021, total assets rose to US$25,361 million in 2022 before decreasing to US$24,342 million in 2023. A significant increase was then observed in 2024, reaching US$27,708 million, and continuing to US$29,264 million in 2025.

Current Assets: Current assets demonstrated consistent growth throughout the period, increasing from US$13,145 million in 2021 to US$22,264 million in 2025. This growth was primarily driven by increases in accounts receivable, prepaid expenses, and other current assets. Notably, short-term investments experienced substantial growth from US$25 million in 2021 to US$576 million in 2023, but values were not provided for 2024 and 2025.
Cash and Cash Equivalents: Cash and cash equivalents generally increased over the period, rising from US$11,127 million in 2021 to US$17,203 million in 2025. While there was a slight decrease from 2022 to 2023, the overall trend is upward, indicating a strengthening liquidity position.
Long-Term Assets: Long-term assets decreased from US$10,496 million in 2021 to US$7,000 million in 2025. This decline was largely attributable to decreases in intangible assets, long-term investments, and other assets. While property and equipment remained relatively stable, operating lease assets showed a slight decrease over the period.
Intangible Assets and Goodwill: Both intangible assets and goodwill experienced a consistent downward trend. Intangible assets decreased from US$2,057 million in 2021 to US$918 million in 2025, while goodwill decreased from US$2,887 million in 2021 to US$2,669 million in 2025. These declines may suggest asset write-downs or amortization.
Long-Term Investments: Long-term investments decreased significantly from US$3,175 million in 2021 to US$440 million in 2023, before showing a slight recovery to US$582 million in 2025. This suggests a strategic shift in investment allocation or potential divestitures.

The composition of assets shifted over the period, with current assets becoming a larger proportion of total assets and long-term assets decreasing in relative importance. This suggests a potential shift towards more liquid assets and a reduction in long-term strategic investments.

Booking Holdings Inc. (NASDAQ:BKNG)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items