Stock Analysis on Net

Booking Holdings Inc. (NASDAQ:BKNG)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Booking Holdings Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Accounts payable
Accrued expenses and other current liabilities
Deferred merchant bookings
Short-term debt
Current liabilities
Deferred income taxes
Non-current operating lease liabilities
Long-term U.S. transition tax liability
Other long-term liabilities
Long-term debt
Long-term liabilities
Total liabilities
Convertible debt
Common stock, $0.008 par value
Treasury stock
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Stockholders’ equity (deficit)
Total liabilities and stockholders’ equity (deficit)

Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).


Accounts Payable
The accounts payable balance displayed notable fluctuations over the periods, increasing significantly from early 2020 to late 2021, peaking at 3,480 million USD by December 2021. Subsequently, it experienced some volatility but remained elevated, reaching a high of 4,280 million USD in June 2025. This indicates an increased reliance on supplier credit or delays in payments.
Accrued Expenses and Other Current Liabilities
These liabilities showed a rising trend from 1,255 million USD in March 2020 to a peak of 6,047 million USD in June 2025, with some fluctuations. The general upward trajectory suggests growing obligations likely associated with operational or contractual expenses.
Deferred Merchant Bookings
There was significant variability in deferred merchant bookings, with large increases noted starting in 2021. The value rose from 960 million USD at the beginning of 2020 to a peak of 9,149 million USD in September 2025 before declining slightly. This reflects changing merchant engagement or adjustments in advance bookings.
Short-term Debt
Short-term debt started around 995 million USD in early 2020, with a sharp increase in March 2021 to 3,905 million USD, followed by fluctuations and an overall downward trend in the latest periods. The decline towards 999 million USD by late 2025 may indicate repayment or refinancing into longer-term obligations.
Current Liabilities
Current liabilities saw a general upward movement, rising from 4,136 million USD in March 2020 to a peak of 18,636 million USD in June 2025. The sharp increases during late 2020 and 2021 may be related to other increasing liabilities but showed some declines in recent quarters, reflecting potential normalization or reclassification.
Deferred Income Taxes
This category consistently declined from 786 million USD in early 2020 to a low of 14 million USD by late 2025. The continuous decrease suggests reduced deferred tax asset or liability positions, possibly due to changes in tax regulations or company profitability.
Non-current Operating Lease Liabilities
The lease liabilities remained relatively stable, ranging from about 438 million USD to 533 million USD over the years, with minor fluctuations. This stability indicates no significant changes in lease obligations.
Long-term U.S. Transition Tax Liability
This liability gradually declined from 1,021 million USD in early 2020 to 257 million USD by late 2024 and then disappeared in the final two reported quarters. The trend reflects progressive settlement of this tax liability.
Other Long-term Liabilities
These liabilities generally increased from 93 million USD at the start of 2020 to 679 million USD by September 2025, with a notable spike in 2025. This increase could be due to new obligations or reclassification of certain liabilities within the long-term category.
Long-term Debt
Long-term debt showed some volatility, initially rising from 7,553 million USD to a peak in late 2022 at 13,198 million USD, dropping and then rising again to 17,473 million USD mid-2025 before slightly decreasing. The pattern denotes active debt management, issuance, and possible refinancing activities.
Long-term Liabilities
The sum of long-term liabilities fluctuated but showed an overall increasing trend from 9,891 million USD in early 2020 to 18,705 million USD by mid-2025, reflecting growth in obligations scheduled beyond one year.
Total Liabilities
Total liabilities increased consistently from 14,027 million USD at the start of 2020, reaching a high of 37,341 million USD in June 2025, before dropping somewhat by the end of 2025. This rise demonstrates expanding total obligations, broadly across both current and non-current categories.
Convertible Debt
Convertible debt presented minimal and irregular presence during the periods, remaining nominal and thus likely insignificant in overall capital structure.
Common Stock
The common stock balance appeared only in the last three quarters at negligible amounts (1 million USD), likely representing a formal recording of par value rather than a change in share capital.
Treasury Stock
The treasury stock balance showed a steady increase in negative value from -24,115 million USD in early 2020 to -52,175 million USD by late 2025. The consistent increase in treasury stock implies ongoing share repurchases or similar equity transactions reducing outstanding shares.
Additional Paid-in Capital
This equity component rose steadily from 5,758 million USD in early 2020 to 8,186 million USD by late 2025, indicating periodic capital injections or issuance of shares above par value.
Retained Earnings
Retained earnings increased from 22,530 million USD in early 2020 to 39,553 million USD by late 2025, showing accumulation of net income over time despite some periodic dips. This reflects ongoing profitability and reinvestment of earnings.
Accumulated Other Comprehensive Loss
This loss fluctuated, generally increasing in absolute terms from -342 million USD early 2020 to levels around -300 million USD by late 2025, indicating ongoing unrealized losses or adjustments in other comprehensive income components.
Stockholders’ Equity (Deficit)
Stockholders' equity showed decline over the term, moving from positive territory around 3,831 million USD in March 2020 to negative balances by mid-2023, reaching as low as -6,657 million USD in June 2025 before partially improving near -4,736 million USD by late 2025. This shift reflects an overall decrease in net assets, potentially due to large treasury stock, accumulated losses, or liability growth.
Total Liabilities and Stockholders’ Equity (Deficit)
The combined total fluctuated but generally increased from 17,862 million USD to highs above 30,000 million USD by mid-2025, consistent with growing liabilities balancing the declining equity position.