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Expedia Group Inc. (NASDAQ:EXPE)

This company has been moved to the archive! The financial data has not been updated since May 3, 2022.

Common-Size Balance Sheet: Assets
Quarterly Data

Expedia Group Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Cash and cash equivalents 22.59 19.08 22.93 22.60 19.62 17.99 22.12 23.07 19.13 15.48 17.76 19.18 17.69 13.55 15.26 14.95 16.76 15.37 17.02 15.44 14.17
Restricted cash and cash equivalents 10.51 7.86 7.23 10.51 9.02 4.13 3.68 5.98 3.98 3.64 2.09 2.79 2.13 1.44 0.97 1.63 1.07 0.37 0.25 0.25 0.19
Short-term investments 0.00 0.93 0.00 0.05 0.11 0.13 0.12 1.93 0.95 2.46 3.08 2.84 2.22 0.16 2.39 7.25 5.05 2.53 2.84 4.87 4.82
Accounts receivable, net of allowance 7.06 5.87 6.77 5.96 4.61 3.75 4.26 4.57 6.97 11.79 12.55 13.03 12.48 11.93 11.98 11.48 11.03 10.08 9.64 9.72 8.94
Income taxes receivable 0.38 0.39 0.46 1.65 1.79 0.64 0.56 0.49 0.36 0.33 0.29 0.58 0.70 0.13 0.19 0.85 0.86 0.11 0.19 0.78 0.72
Prepaid expenses and other current assets 4.81 3.84 3.82 5.20 5.26 3.50 3.48 4.79 6.09 2.43 1.50 1.33 1.52 1.62 1.45 1.76 1.61 1.45 1.50 1.31 1.31
Current assets 45.36% 37.97% 41.21% 45.96% 40.41% 30.14% 34.22% 40.83% 37.48% 36.12% 37.27% 39.75% 36.74% 28.82% 32.24% 37.92% 36.37% 29.92% 31.44% 32.36% 30.16%
Property and equipment, net 8.83 10.12 10.32 9.35 10.25 12.08 11.70 10.52 11.25 10.26 9.78 8.80 8.72 10.41 9.24 8.22 7.96 8.51 7.99 7.94 8.05
Operating lease right-of-use assets 1.61 1.89 2.01 1.93 2.28 3.07 3.04 2.86 3.08 2.85 2.32 2.36 2.56 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-term investments and other assets 5.97 6.73 2.98 2.74 3.05 3.59 3.08 2.82 2.99 3.72 3.60 3.67 3.84 4.31 3.75 3.69 4.20 4.57 4.67 2.89 2.99
Deferred income taxes 3.52 3.55 3.64 3.52 3.58 3.53 2.83 2.20 1.26 0.68 0.51 0.36 0.22 0.38 1.18 0.08 0.09 0.10 0.20 0.17 0.14
Intangible assets, net 5.57 6.46 6.49 6.03 6.76 8.11 7.81 7.30 8.04 8.42 8.62 8.50 9.24 11.05 10.98 10.49 10.98 12.47 12.49 12.84 13.51
Goodwill 29.16 33.28 33.35 30.48 33.67 39.49 37.31 33.46 35.90 37.95 37.90 36.57 38.68 45.03 42.62 39.60 40.39 44.44 43.22 43.80 45.16
Non-current assets 54.64% 62.03% 58.79% 54.04% 59.59% 69.86% 65.78% 59.17% 62.52% 63.88% 62.73% 60.25% 63.26% 71.18% 67.76% 62.08% 63.63% 70.08% 68.56% 67.64% 69.84%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

An analysis of the common-size balance sheet reveals a significant structural shift in asset composition between March 2017 and March 2022. The most prominent trend is a gradual migration from non-current assets toward a more liquid current asset base, characterized by a marked reduction in intangible assets and a substantial increase in cash holdings.

Liquidity and Cash Management
Current assets exhibited an overall upward trend, rising from 30.16% in March 2017 to 45.36% by March 2022. This growth was primarily driven by cash and cash equivalents, which increased from 14.17% to 22.59% over the period, with a notable peak of 23.07% in June 2020. Most significantly, restricted cash and cash equivalents saw an aggressive expansion, moving from a negligible 0.19% in early 2017 to 10.51% by March 2022, suggesting an increase in funds tied to specific regulatory or contractual obligations.
Intangible Assets and Goodwill
A consistent and substantial contraction is observed in the company's intangible asset base. Goodwill, which represented 45.16% of total assets in March 2017, declined to 29.16% by March 2022. Similarly, net intangible assets fell from 13.51% to 5.57%. This cumulative reduction in goodwill and intangibles indicates significant impairment charges or a strategic reallocation of the balance sheet away from acquired premiums.
Operational Asset Trends
Accounts receivable, net of allowance, showed a downward trajectory, decreasing from peaks of approximately 12% in 2018-2019 to 7.06% by March 2022, with a sharp dip during 2020. Property and equipment remained relatively stable, fluctuating between 8% and 12% of total assets, indicating that capital expenditures remained proportional to the overall asset base. Deferred income taxes saw a gradual increase, rising from 0.14% in 2017 to 3.52% in 2022.
Non-Current Asset Composition
The total proportion of non-current assets experienced a decline from 69.84% in March 2017 to 54.64% in March 2022. This trend confirms a transition toward a more liquid financial posture, as the reduction in long-term intangible assets outweighed the stability of physical property and equipment.

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