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.
Expedia Group Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
The financial data reveals several trends in the composition and magnitude of assets over the five-year period ending December 31, 2021. Total assets exhibited fluctuations, declining from 18,516 million USD in 2017 to 18,690 million USD in 2020, then rising sharply to 21,548 million USD in 2021, surpassing the previous peak of 21,416 million USD in 2019.
Current assets showed volatility, increasing significantly from 5,540 million USD in 2017 to 7,735 million USD in 2019 before declining to 5,634 million USD in 2020 and rebounding to 8,181 million USD in 2021. This pattern reflects swings mainly driven by accounts receivable, which increased from 1,866 million USD in 2017 to a peak of 2,524 million USD in 2019, then dropped sharply to 701 million USD in 2020, recovering somewhat to 1,264 million USD in 2021.
Cash and cash equivalents remained relatively stable with a general upward trend, starting at 2,847 million USD in 2017, dipping to 2,443 million USD in 2018, then rising steadily to 4,111 million USD in 2021. Restricted cash increased markedly, especially by 2021 when it reached 1,694 million USD, indicating possibly enhanced cash reserves or regulatory requirements.
Short-term investments fluctuated without a clear trend, peaking at 526 million USD in 2019, but falling to 24 million USD in 2020, and then slightly recovering to 200 million USD in 2021. Other current asset components such as prepaid expenses and income taxes receivable generally increased over time, reflecting potentially growing operational scale or tax-related activities.
Non-current assets remained relatively stable overall, with some variation. Property and equipment grew from 1,575 million USD in 2017 to 2,257 million USD in 2020 before a slight decline to 2,180 million USD in 2021. The introduction and subsequent decrease of operating lease right-of-use assets—recorded from 2019 onward—peaked in 2019 and decreased over the next two years, possibly reflecting lease strategy or accounting adjustments.
Long-term investments and other assets showed a downward trend from 845 million USD in 2017 to 671 million USD in 2020, followed by a sharp increase to 1,450 million USD in 2021, contributing to the rise in non-current assets that year. Deferred income taxes increased substantially each year, rising from 18 million USD in 2017 to 766 million USD in 2021, signaling growing timing differences or tax deferrals.
Intangible assets and goodwill both showed a consistent decline across the period. Intangible assets decreased from 2,309 million USD in 2017 to 1,393 million USD in 2021, while goodwill decreased from 8,229 million USD to 7,171 million USD in the same timeframe. This pattern suggests amortization, impairments, or disposals impacting these asset categories.
Overall, the data indicates a company managing a dynamic asset base with notable volatility in current assets and a generally stable but slightly declining intangible asset base, supported by increasing cash and deferred tax positions. The rising total assets in 2021, driven in part by increases in current and long-term assets, denotes some growth or asset accumulation following the prior years' fluctuations.
- Total Assets
- Fluctuated but increased from 18,516 million USD in 2017 to 21,548 million USD in 2021, surpassing previous highs.
- Current Assets
- Variable, with a peak in 2019; major fluctuation attributed to accounts receivable and fluctuations in cash equivalents.
- Cash and Cash Equivalents
- Generally increased over time, reaching a peak of 4,111 million USD in 2021.
- Restricted Cash
- Sharp increase by 2021, indicating more cash held under restriction.
- Short-term Investments
- Volatile with no clear trend, peaked in 2019.
- Accounts Receivable
- Marked decrease in 2020, partial recovery in 2021.
- Non-current Assets
- Mostly stable with slight fluctuations; notable growth in deferred income taxes and long-term investments in 2021.
- Property and Equipment
- Growth through 2020, minor decrease in 2021.
- Operating Lease Right-of-Use Assets
- Introduced in 2019, declining thereafter indicating changes in lease accounting or leasing strategy.
- Intangible Assets and Goodwill
- Steady declines, suggesting amortization or impairment effects.
- Deferred Income Taxes
- Consistently increased, pointing toward greater deferred tax liabilities or assets.